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The nation’s housing market is on a correction course

Housing Wire

Homes listed for sale are increasingly seeing asking-price reductions, and both construction and home sales — both existing and new — are slowing.”. Cleveland — Residential construction and real estate activity softened further amid rising interest rates. Single-family construction declined slightly.

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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. Homebuilder confidence in the U.S. Inventory has been an issue for real estate agents and brokers since early 2020, as well.

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CITIES FACE DAUNTING OFFICE-VACANCY CHALLENGE

Will Springer Realtor

Our urban area accounts for about half of the city’s economic activity, and the Seattle Chamber noted that rising office vacancies coupled with less construction could lead to $2B in decreased revenue. We certainly see that in all forms of residential real estate – from new construction to finding items for the home.