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New-home sales hit highest level since 2021

Housing Wire

Still, higher new home sales doesnt begin to offset the gap left by existing-home sales, which were at an almost 30-year low in 2024 at 4.06 Home builders were able to offer prospective buyers concessions, including rate buydowns, to entice them to new home communities.

Sales 476
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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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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.

Sales 352
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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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Positive Signs: Single-Family New Construction, Permits Rise in September

RIS Media

According to the bureau’s September Monthly New Residential Construction report,… The post Positive Signs: Single-Family New Construction, Permits Rise in September appeared first on RISMedia. Census Bureau and the U.S. Department of Housing and Urban Development bears that sentiment out.

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Housing starts rise on falling mortgage rates

Housing Wire

New construction rose to a seasonally adjusted annual rate of 1,560,000, according to the U.S. Single-family building activity drove November residential construction activity. Single-family building activity drove November residential construction activity. But permits for future construction fell 2.5%

Mortgages 459
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Mortgage rates continue trending down before Christmas

Housing Wire

“A rise in homebuilder confidence , followed by new home construction reaching its highest level since May, signals a response to meet heightened demand as current inventory remains low.” Lower rates will have a positive impact on affordability, Lisa Sturtevant, chief economist at Bright MLS, said in a statement.

Mortgages 511