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US housing market is now worth a record $52 trillion: Zillow

Housing Wire

housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6 Fueling this increase is new construction, according to Divounguy, even though the 1.3%

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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. Index values for December published last week.

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Unsold homebuilder inventory is ticking up as new home sales slow

Housing Wire

Census Bureau and the Department of Housing and Urban Development ( HUD ). Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said. In August, the sales pace of new homes fell 8.7%

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To lure more teachers, CO school districts enter the housing market

Housing Wire

Affordability has been a chief topic of concern in the housing industry for the past several years, and the lack of affordable options in the state of Colorado is pushing that state’s school districts into action. Rents also remain challenging according to data the Post cites from Zillow.

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Construction worker shortage has reached “crisis” levels

Housing Wire

To keep pace with current construction demand, and account for attrition, 740,000 new construction workers are needed each year for the next three years , a report by the Home Builders Institute contends. million new hires for construction. The construction worker shortage has reached crisis level.

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Employment gains could help housing inventory

Housing Wire

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. Despite increased rate of tech adoption, the mortgage industry still has room for continued development and processes. Labor Department.

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Are mortgage rates about to fall?

Housing Wire

However, this year, even though the spreads are still historically bad, they’ve improved over last year, which is a plus for the housing market. Weekly housing inventory data Last week was another week that missed my inventory growth model with higher rates. Right now, the difference between them is 2.60%.

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