Housing Wire

OCTOBER 18, 2024

The number of housing units that came online in September showed a big year-over-year jump, but data on earlier stages of construction suggest not much is coming through the pipeline. That’s according to monthly data on new residential construction from the U.S. But housing completions rose 14.6% compared to September 2023.

Construction 459

Construction Staging New Construction MLS 459

Housing Wire

JULY 17, 2024

Higher mortgage rates have increased recession risk by targeting the one sector that always falls before every recession: residential construction workers. Housing completion data is picking up and the faster the builders finish their historic backlog of homes, the sooner construction workers are unemployed. This is 10.1 percent (±10.6

Construction 508

Construction Mortgages Residential As-is 508

Housing Wire

OCTOBER 15, 2024

With high prices and still stiff competition, those looking to buy a home in today’s real estate market need to consider every opportunity, including the choice between new construction or a resale home. Census Bureau, the median sale price of a new construction home in March 2024 was $430,700.

New Construction 488

New Construction Construction Agents Marketing 488

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 389

Residential Construction Loans Mortgages 389

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.

Construction 535

Construction Closing costs Renovation Title 535

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.

Construction 471

Construction Renovation Principal Development 471

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. recession isn’t far away.

Construction 379

Construction New Construction Residential Mortgages 379

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. It is a notoriously expensive housing market and maintains an estimated population of more than 260,000 people, according to data from the 2020 U.S.

Construction 459

Construction Equity Mortgages Finance 459

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

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

AUGUST 16, 2024

. “The large inventory of new homes is suppressing building at this point, but with mortgage rates dropping and likely to fall more, we should see a pick up in construction later this year,” Robert Frick, a corporate economist at Navy Federal Credit Union , said in a statement. Single-family permits also declined, falling 0.1%

Construction 481

Construction New Construction MLS Residential 481

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. They say housing leads the economy in and out of a recession.

Construction 427

Construction Residential Sales Mortgages 427

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.

Construction 505

Construction Mortgages As-is Closing 505

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 497

Sales Marketing Construction Residential 497

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 476

Construction Finance Design Technology 476

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

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. Is the apartment boom over?

Construction 534

Construction Staging Loans Mortgages 534

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. This represents a supply of 9.2 months at the current sales rate.

Sales 529

Sales Mortgages Marketing Construction 529

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. months , the builders will pause construction. months 274K homes under construction = 5.3

Sales 488

Sales Construction Mortgages Staging 488

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. In 2022, build-to-rent transactions totaled about $2.1

Investor 493

Investor Construction Commercial Sales 493

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

JUNE 6, 2024

A private planning firm in California is launching a new tool to help local governments there prepare for a pending law designed to spur more construction of accessory dwelling units (ADUs). Digital tools like the ADU Plans Gallery reduce the time and cost of building ADUs and accelerate housing construction.”

Construction 475

Construction Principal Design Equity 475

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

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

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. HW : We’re seeing an uptick in ground-up construction. Ground-up construction growth will be high to meet the population growth and meet the demand due to limited inventory.

Investor 448

Investor New Construction Construction Loans 448

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. More construction can continue if total mortgage rates are headed lower.

Marketing 514

Marketing Construction Mortgages As-is 514

Housing Wire

FEBRUARY 23, 2024

million, which will go toward organizations aiming to boost housing inventory and availability through methods including off-site construction and office-to-residential conversions. “As We need to think creatively, from innovative construction methods to office-to-residential conversions.

Construction 459

Construction Land Residential Principal 459

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

JULY 31, 2024

Department of Housing and Urban Development (HUD) visited the University of Alaska at Fairbanks to tout the possibilities that 3D printing technology could bring to the construction of affordable housing in the U.S. A key goal for the project includes the deployment of local and sustainable resources for construction materials.

Construction 459

Construction Technology Principal Development 459

Housing Wire

JANUARY 3, 2024

About 900,000 units are currently under construction , and 440,000 new units are expected to be completed in 2024, according to the report. Construction completions have already peaked in Chicago, Washington, D.C. However, the occupancy rate will remain above 94%, according to CBRE’s U.S. Real Estate Market Outlook 2024. and Las Vegas.

Construction 482

Construction Commercial Property Management Residential 482

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 plan also addresses environmental impact concerns of new construction, Rubio said, by paying attention to the floodplain of Portland’s urban center.

Construction 447

Construction New Construction Finance Land 447

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.

Mortgages 493

Mortgages Marketing Construction Residential 493

Housing Wire

JULY 11, 2024

Transitioning to factory building from on-site construction reduces building costs by 20% and significantly improves delivery time; and by using green materials, developers can open up new financing options that, together, turn project economics right-side-up. The result is a sharp increase in labor costs, and longer construction times.

Development 435

Development Construction Finance Investor 435

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 figure in Florida far exceeds the next most prominent states. million built in total in that period, the First Street analysis found.”

Construction 497

Construction Development Finance Mortgages 497

Housing Wire

JULY 19, 2024

Meanwhile, construction labor is another issue facing the market. We’re worried about construction labor,” Mohtashami said. But Mohtashami notes that it’s too early for lower interest rates to impact the market. Recent data shows that building permits for single-family and multifamily homes are historically low.

Construction 468

Construction Mortgages Development As-is 468

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. percent above the November 2022 rate of 1,402,000.

Construction 526

Construction Sales Investor As-is 526