Housing Wire

DECEMBER 17, 2024

More inventory can bring down prices, but some renters still struggle to meet the rental price hikes found in new construction. increase in asking rents for newly constructed apartments in 2024 the biggest spike in 18 months. Seattle-based brokerage Redfin released a report this week that highlighted a 1.5%

Construction 339

Construction New Construction Brokerage Marketing 339

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%

Construction 535

Construction Closing costs Renovation Title 535

Housing Wire

DECEMBER 5, 2024

Highlands Residential Mortgage announced that Daniel McCoy is joining the company as a regional construction loan manager for the Southeast. Daniel McCoy McCoy leads the construction-focused McCoy Mortgage Team , which has previously affiliated with companies like MVB Mortgage , Intercoastal Mortgage and Cardinal Financial.

Residential 382

Residential Construction Loans Mortgages 382

Housing Wire

NOVEMBER 4, 2024

New construction inventory has grown in recent months. Homebuilders have backed off since the pandemic-driven building boom, with high mortgage rates dampening demand; they’re focused on selling the new homes they have on the books rather than constructing new ones,” Redfin noted in the report. million units. The sales pace was down 3.5%

As-is 370

As-is Marketing Construction New Construction 370

Housing Wire

DECEMBER 5, 2023

In the third quarter of 2023, single-family and multifamily home construction grew in outlying areas instead of urban centers. Released quarterly, the HBGI gauges housing construction growth in various regions using county-level information about single- and multifamily building permits. in Q3 2023 from a year ago.

New Construction 475

New Construction Construction Marketing As-is 475

Housing Wire

JULY 22, 2024

HUD encourages existing CoCs to use awarded funds for construction, acquisition or rehabilitation of additional PSH units with other funding sources, so that the amount of housing can be “maximized” to “meet the needs of individuals and families experiencing homelessness,” HUD said. million people,” the announcement said.

Construction 465

Construction Renovation Principal Development 465

Housing Wire

SEPTEMBER 26, 2023

“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. The seasonally‐adjusted estimate of new houses for sale at the end of August was 436,000. At the current sales rate, this represents a supply of 7.8

As-is 511

As-is Sales New Construction MLS 511

Housing Wire

FEBRUARY 28, 2024

Like many localities across the country, Marin County leaders describe a housing crisis in their area that they hope to alleviate through the construction of more ADUs. Marin County is situated across the Golden Gate Bridge, north of San Francisco. They especially aim to serve those undergoing life transitions, like seniors.

Construction 459

Construction Equity Mortgages Finance 459

Housing Wire

OCTOBER 18, 2024

Anyone who thinks we are on the verge of a housing construction boom is kidding themselves, with the policy still this restrictive. Now, over time, the falling Fed funds rate can create better demand for apartment construction, but that’s not today, my friends. Let’s take a look at the report. percent (±19.9 percent (±11.9

Construction 379

Construction New Construction Residential Mortgages 379

Housing Wire

APRIL 15, 2024

Mortgage experts added that struggling lenders — which laid off staff, received cash infusions and were overly enthusiastic about a market recovery after two years of shrinking originations — may be forced to find other options, such as mergers and acquisitions. Last week, the U.S. in March compared to a year earlier.

As-is 482

As-is Industrial Mortgages Loans 482

Housing Wire

AUGUST 16, 2024

One key data line that is flagging a path to recession is the loss of residential construction workers. A while back, HousingWire Editor in Chief Sarah Wheeler and I discussed the risk of recession due to a lack of construction labor. Let’s look at today’s residential construction report and see where we are. From the U.S.

Construction 535

Construction Residential New Construction Finance 535

Housing Wire

DECEMBER 18, 2024

Interestingly, employment for residential construction workers typically one of the first areas to experience declines before a recession has not yet seen its usual downturn. However, despite these challenges, we have not lost our labor pool of construction workers. We will soon find out. Lets take a closer look at the data.

Construction 420

Construction Residential Sales Mortgages 420

Housing Wire

JANUARY 25, 2024

The new home sales sector employs construction workers and stimulates the purchase of goods and services to build those homes: everything from windows to garage doors, flooring and more. In 2023, residential constructions workers weren’t laid off like in previous economic cycles. months , the builders will pause construction.

Sales 514

Sales Construction Mortgages Residential 514

Housing Wire

NOVEMBER 19, 2024

A lower Fed funds rate can assist with land purchases and apartment construction, but that process would take considerable time before we see any development. The key takeaway from today’s housing data is that there simply isn’t enough demand to justify additional construction — at least as far as the builders are concerned.

Construction 539

Construction Mortgages Land Sales 539

Housing Wire

FEBRUARY 16, 2024

We can see a clear difference between the two markets in the housing construction data. Apartment permits Single family permits We should all be grateful that the builders are paying down mortgage rates and finishing their significant backlog of homes that are under construction or haven’t started construction yet. This is 14.8

Construction 504

Construction Mortgages As-is Closing 504

Housing Wire

DECEMBER 22, 2023

Housing starts aren’t booming, primarily due to 5-unit construction slowing down. months , the builders will pause construction. Also, mortgage rates spiked this fall, so the builders are mindful of those homes that haven’t started construction yet. Census Bureau and the Department of Housing and Urban Development. This is 12.2

Sales 529

Sales Mortgages Marketing Construction 529

Housing Wire

MAY 23, 2024

However, we need to keep an eye on the housing construction data in this report because it has huge implications for the economic cycle, our recession risk and mortgage rates. The future production of housing units at risk I am bringing this up because economic recessions tend to see residential construction workers lose their jobs first.

Sales 496

Sales Marketing Construction Residential 496

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.

Construction 476

Construction New Construction Lending Sales 476

Housing Wire

SEPTEMBER 19, 2023

Have we finally hit the limits of the massive boom in 5-unit apartment construction that has been a positive driver of jobs and the fight against inflation since January of 2021? A big reason for the huge miss was an epic collapse in 5 unit construction starts; as you can see in the chart below.

Construction 534

Construction Staging Loans Mortgages 534

Housing Wire

FEBRUARY 21, 2024

Similarly, construction has slowed but remains elevated. The number of units under construction peaked in the fourth quarter of 2022 at above 53,000 and fell to about 36,500 in the fourth quarter of 2023, according to Cushman & Wakefield. Tricon owns more than 37,000 homes and is building about 2,500 more.

Investor 493

Investor Construction Commercial Sales 493

Housing Wire

NOVEMBER 17, 2023

This has kept construction workers employed and they have the money to spend on goods and services. One of the early indicators of a job-loss recession has failed to materialize, as construction employment has held up so far. But a funny thing happened this year for the U.S. percent (±13.5 percent (±10.0 percent (±11.6 percent (±13.2

Marketing 513

Marketing Construction Mortgages As-is 513

Housing Wire

JANUARY 9, 2024

Here are a few trends in financing that will continue to catalyze the construction of more ADUs: Expanded access to mortgage financing The Federal Housing Authority announced a new policy in October 2023 that has made it easier to finance construction of new ADUs, as well as making it more achievable to buy or refinance a house with an existing ADU.

Finance 501

Finance Construction Loans Renovation 501

Housing Wire

OCTOBER 21, 2024

The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said. The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said. They sell for just under $3 million.

Construction 497

Construction Development Finance Mortgages 497

Housing Wire

APRIL 4, 2024

Despite recent data indicating a poor affordable housing situation in Texas , the city of Houston must return $45 million in unused affordable housing funds to the state after failing to use them for construction of new homes. Instead, the city failed to begin construction on the homes in a timely manner.

Construction 476

Construction As-is Finance Marketing 476

Housing Wire

OCTOBER 25, 2024

Davis also highlights Deephaven’s edge in products like their Ground-Up Construction and Fix-and-Flip products, offering originators essential tools and training. Davis also highlights Deephaven’s edge in products like their Ground-Up Construction and Fix-and-Flip products, offering originators essential tools and training.

Investor 448

Investor New Construction Construction Loans 448

Housing Wire

OCTOBER 24, 2024

We had no growth in residential construction work hiring earlier in the year when rates were higher. I recently raised this concern about housing construction and new home sales in an interview on CNBC. Today’s report shows that 258,000 homes are under construction, which amounts to 4.2 Then mortgage rates fell from 7.5%

Sales 488

Sales Construction Mortgages Residential 488

Housing Wire

DECEMBER 19, 2023

Housing permits declined, as the 5-unit construction boom ended, negatively impacting the permit data. If we had growth in 5-unit construction, the permit data would look very different. However, the mega-bull run we had in 5-unit construction post-COVID-19 is coming to an end. economy into a recession. This is 14.8

Construction 526

Construction Sales Investor As-is 526

Housing Wire

JULY 24, 2024

Will the Federal Reserve pivot in time to save construction workers? This is key because, traditionally, residential construction workers are the first to lose their jobs before every recession since higher mortgage rates hit housing first. Census Bureau and the Department of Housing and Urban Development. percent (±14.6 percent (±15.2

Sales 488

Sales Construction Mortgages Staging 488

Housing Wire

SEPTEMBER 18, 2024

Slowdowns in new single-family construction over the summer reflected sagging builder confidence, but homebuilders appear to be more confident as mortgage rates have fallen over the past few weeks and as the Federal Reserve gets set to cut interest rates. monthly and 6.2% annually to a rate of 333,000 starts. month over month and 5.2%

Marketing 488

Marketing Construction New Construction MLS 488

Housing Wire

MAY 7, 2024

It is shipped from the Boxabl manufacturing facility in Las Vegas and is “designed to unfold into a fully functional dwelling unit in just a few hours,” reducing construction costs and minimizing environmental impacts, according to a company news release.

Construction 475

Construction Finance Design Technology 475

Housing Wire

FEBRUARY 26, 2024

When some people say millions of new homes are about to hit the market because we have so many homes under construction, this means they don’t read or understand the new home sales report. months , the builders will pause construction. In fact, even during the years of the housing bubble crash, this number never reached 200,000.

Construction 532

Construction Sales Mortgages As-is 532

Housing Wire

AUGUST 13, 2024

Construction of accessory dwelling units (ADUs) is taking off, but is it bringing down housing costs? A new report from John Burns Real Estate Consulting casts doubt on it, citing uneven geographic distribution of deregulations and the high cost of construction. As a result, the most impactful ADUs are in new construction.

Construction 435

Construction New Construction Equity Residential 435

Housing Wire

MAY 17, 2023

The faster we get 5-unit construction finished, the better we can fight against inflation and get lower mortgage rates. However, you can see why construction employment has stayed firm. As we all know, we have a record number of apartments under construction. So, how many 5-units under construction do we have today?

Mortgages 544

Mortgages Construction As-is Staging 544

Housing Wire

APRIL 16, 2024

As we can see below, recessions traditionally don’t start until residential construction jobs are lost. As we can see below, we haven’t shed residential construction jobs yet, and we haven’t gone into a job loss recession either. When they say housing leads the U.S. In 2022, many recessionary red flags popped up.

Construction 493

Construction Residential Mortgages As-is 493

Housing Wire

OCTOBER 18, 2023

Multigenerational housing gains steam to combat affordability pressures According to a recent survey conducted by OnePoll , 61% of homeowners cited multigenerational housing as their primary motivation for constructing an ADU. a garage or basement) or when modern offsite construction is used to build a new structure.

Construction 545

Construction Banks Closing Mortgages 545

Housing Wire

SEPTEMBER 4, 2024

The only viable solution to these problems, as other municipal leaders and housing industry experts have previously suggested, is the construction of more homes. The only viable solution to these problems, as other municipal leaders and housing industry experts have previously suggested, is the construction of more homes.

Construction 446

Construction New Construction Finance Land 446

Housing Wire

AUGUST 2, 2024

Job gains in July were most notable in industries like health care (55,000 jobs), transportation and warehousing (14,000 jobs), and construction (25,000 jobs), a positive for the housing industry. Overall, for the past year, the construction sector has added an average of 19,000 jobs per month. Data from the U.S.

Mortgages 493

Mortgages Marketing Construction Residential 493