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December jobs report comes in stronger than expected

Housing Wire

The construction sector showed little month-over-month change, adding just 8,000 jobs. Residential building construction added 3,500 jobs from November, while residential specialty trade contractors added just 500 positions.

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Bright MLS teams up with Collabra Technology

Housing Wire

Agents subscribed to Bright MLS now have access to a built-in advertising tool through a new partnership with Collabra Technology , according to an announcement on Tuesday. In addition to AdBuilder, Bright MLS subscribers will also have access to SphereIndex and SphereBuilder.

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Housing completions were up in 2024, a bright spot for builders

Housing Wire

While new construction picked up between November and December, there are still headwinds in the homebuilding sector, Lisa Sturtevant, the chief economist at Bright MLS , said in a statement. While economists are happy with the level of construction in 2024, they say there is still work to be done.

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Home construction data offers glimmers of optimism — but with a caveat

Housing Wire

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.

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New-home sales hit highest level since 2021

Housing Wire

In many markets, there was simply more new home inventory and some buyers who might have wanted to purchase an existing home were instead looking at new construction, said Bright MLS Chief Economist Lisa Sturtevant in a statement.

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Existing-home sales finish a dismal year on a high note

Housing Wire

million home sales annually, said Bright MLS Chief Economist Lisa Sturtevant in a statement. New construction has not been able to keep up with demand. Over the past decade, the U.S. has averaged about 5.2 It is going to take years before we are back at that level, maybe not even until the 2030s.

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Housing construction picked up in September, but developers are getting anxious

Housing Wire

However, permits for future construction recorded a 4.4% Despite the uptick last month, builders are becoming increasingly anxious about persistently high mortgage rates and cooling demand,” Lisa Sturtevant, chief economist at Bright MLS , said in an emailed statement. Could multifamily construction stall? Census Bureau data.