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Opinion: The “profitless boom” in residential construction

Housing Wire

The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Tye Alroe, director of Alroe Constructions , was recently let down by a subcontractor who pulled out of a job at the last minute. “I I had a roofer locked in six weeks in advance.

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HUD announces final rule to protect against flood risk

Housing Wire

“This rule strengthens standards by increasing elevations and flood proofing requirements of properties in areas at risk of flooding, where federal funds are used to develop or provide financing for new construction within the now defined FFRMS floodplain,” HUD explained. “It

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The housing market faced uncertainty in March, but now ‘it’s a circus’

Housing Wire

The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space has turned this year into a boom time for real estate agents. For the last five to 10 years, Weisser said her market has been growing at a positive pace.

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Mortgage rates dip to 6.6% to mark the lowest level since May 2023

Housing Wire

This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability. Housing starts declined 9% in 2023, an indication that homebuyers looking to purchase a new construction home may continue to struggle with the lack of inventory this year.

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5 trends that will reshape the real estate market in 2024

Housing Wire

The housing market’s conditions, characterized by soaring prices and limited availability, have compounded these challenges. The year will unfold with a strategic shift in business models, emphasizing the expansion of product offerings and investments in consumer education to adeptly navigate the housing market slowdown.

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New Construction Homes Rise to All-Time High, The Housing Market Has Doubled in the Last Decade, and More Appraisal News

McKissock

The share of new construction homes on the market rises to a record high. The value of the housing market as a whole has doubled since the early 2010s. One-third of houses for sale are new construction, an all-time high. single-family homes for sale in December were new construction, up from 25.4%

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Rising costs, COVID cases dip builder confidence

Housing Wire

fell to a four-month low in January as builders expressed concerns about higher house prices, COVID-related supply chain issues and construction costs. Builder confidence in single-family homes dropped to 83 in January from 86 in December, according to the National Association of Home Builders and Wells Fargo Housing Market Index.