Housing Wire
MARCH 7, 2024
In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. This would act as an equivalent to reducing the mortgage rate by more than 1.5%
Housing Wire
DECEMBER 29, 2023
And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. million new single-family construction units in 2024.
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Housing Wire
SEPTEMBER 14, 2023
Nearly half (49%) of Realtors said their buyers have no preference between existing and new construction, however white buyers were significantly more likely than other racial groups to prefer existing homes at 46% compared to 27% to 35% for other groups.
Housing Wire
AUGUST 16, 2023
Under the new regulations, construction of new residential buildings can continue in areas that have a designated water provider since homebuilders and developers do not need an AWS certificate to obtain a building permit. Phoenix, said Vogel, was already dealing with low housing inventory and increasing affordability issues.
Housing Wire
FEBRUARY 22, 2024
Balancing supply and demand is a delicate dance between new construction and existing properties. Legal and regulatory risk demands compliance with evolving laws and regulations, with VRM Mortgage Service’s legal and compliance departments ensuring current knowledge and implementing controls.
Housing Wire
DECEMBER 20, 2022
This is the reason construction workers still have jobs, and that backlog needs to be finished; this is a positive outcome. The bigger story here is that if we want to see mortgage rates fall, we need more rental units, and right now we have a massive backlog of 2-unit homes under construction — over 900,000. percent (±12.3
Housing Wire
APRIL 13, 2022
Housing costs, particularly at the bottom of the market, have skyrocketed with a limited supply of housing and a severe shortage of construction workers. Since 2016, legal immigration growth has declined by 40%. Increasing the supply of legal immigrant construction workers would accelerate economic growth.
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