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The housing market slowdown has only just begun: Fannie Mae

Housing Wire

Homebuilders may have been reluctant to do so until recently as supply chain bottlenecks and labor shortages have resulted in an elevated share of homes for sale still being under construction compared to the historical norm,” according to the report by the ESR Group. month supply, up from 1.6

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Pending home sales reach highest May mark in 16 years

Housing Wire

The strong increase in home sales and transactions in May —following a dip in April — was a surprise, per Lawrence Yun, National Association of Realtors chief economist, who attributed the home sales increase to mortgage rates remaining below 3%, as well as an uptick, nationally, in listings. year over year. .

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Despite lack of supply, existing home sales rise 6.7%

Housing Wire

annually to $350,000, according to the Friday report from the National Association of Realtors. The supply of homes for sale fell to a record low, down 16.5% months of supply; a healthy market generally has between four and six months of supply. .” January sales fell 2.3% from a year ago. That translates to just 1.6

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What to Know About Home Renovations in 2023

Lamacchia Realty

Factors such as supply chain disruptions, project delays, and increasing costs have greatly impacted both new construction and ongoing renovation projects. It’s so important to stay informed of the impact of inflation, availability of materials, and supply chain issues. How Much Do Renovation Materials Cost?

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Here are 4 macro trends impacting the 2022 housing market

Housing Wire

Like many parts of the economy, housing construction may remain plagued by supply chain challenges, labor shortages and rising costs. At the same time, the unemployment rate has decreased to below 4% in December, and a record 4.5

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Dearth of new construction strains migration hotspot of Alabama

Housing Wire

We are very bullish on Alabama and its long-term prospects,” Jeremy Walker, CEO of the Alabama Realtors Association , said. “We New construction is backed up,” she said. Survey participants reported family and employment opportunities as their primary reasons for moving to the state. “We

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The historic multifamily construction boom is already fading

Housing Wire

The number of renters who can even afford to buy a home at the national median list price of $425,000 compared to a year ago is down 15%, according to the National Association of Realtors. . Construction lending has sort of slowed to a crawl,” Peter DiCorpo, the co-founder and COO of Black Farm Group , said.