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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. That could set the backdrop for a slower pace of construction.

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Pending home sales surged in December: NAR

Housing Wire

Pending home sales rose 8.3% It was the largest monthly jump in pending home sales since 2020. NAR’s Pending Home Sales Index (PHSI) increased to 77.3 On a year-over-year basis, pending sales were up 1.3%. “Job Regional data Pending home sales improved most significantly in the West, South and Midwest in December.

Sales 450
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Planet Home Lending adds new regional sales manager

Housing Wire

Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday. It’s an opportunity to align with an organization that not only values excellence and innovation in mortgage lending but also deeply invests in the growth and success of its sales professionals.

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New home sales continue to climb in 2023

Housing Wire

New home sales started off 2023 on a positive note, rising 7.2% This marks the second consecutive month of increases and the strongest sales pace since March 2022. This marks the second consecutive month of increases and the strongest sales pace since March 2022. months of supply at the current sales pace, down from 8.7

Sales 424
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Pending home sales fall to their lowest level in two decades

Housing Wire

Pending home sales in October fell to their lowest level since 2001. As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% As a result, NAR’s Pending Home Sales Index fell to a reading of 71.4, New home sales fell 5.6% down from 72.6 in September. above the previous year’s level.

Sales 471
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Unsold homebuilder inventory is ticking up as new home sales slow

Housing Wire

After a boost in July, the sales pace of new homes slowed in August, according to data published on Wednesday by the U.S. In August, the sales pace of new homes fell 8.7% On a year-over-year basis, new home sales were up 5.8%. The seasonally‐adjusted estimate of new houses for sale at the end of August was 436,000.

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Master planned communities post strong new home sales numbers in 2023

Housing Wire

According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022. And in 2023, each of the top 50 communities sold at least 368 homes, although that’s fewer than the 2021 record of 460 sales per community.

Sales 450