New home construction shoots up 22.6% in July

Housing Wire

New home construction continues to climb, as privately owned single-family housing starts in July were at a seasonally adjusted annual rate of 1.496 million, a 22.6% The post New home construction shoots up 22.6%

Increase in housing starts has construction playing catch-up

Housing Wire

Duncan noted the pace of new home sales over the past six months has accelerated more quickly than the construction pace, suggesting homebuilders will have to play catch up relative to sales going forward.

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What a dismal jobs report means for the housing market

Housing Wire

HousingWire spoke to housing market economists and mortgage industry veterans to get their take on how they believe the jobs report will impact the mortgage and housing industries. The post What a dismal jobs report means for the housing market appeared first on HousingWire.

Suburbs see greatest gain in single-family construction in Q3

Housing Wire

Since Q1, the market share for single-family construction in urban core areas fell from 18% to 17.2%, the report said. However, small metro core and suburban single-family market share increased from 37.7% Apartment construction increased in second-home markets by 11.1%.

Second Home Markets Show Construction Growth

Eye on Housing

For the third quarter of 2020, NAHB’s Home Building Geography Index (HBGI) found construction gains for traditional second home markets. Read More › The post Second Home Markets Show Construction Growth first appeared on Eye On Housing.

HBGI Shows Suburban Shift for Multifamily Construction

Eyes on Housing

The first quarter 2021 Home Building Geography Index (HBGI) showed that single-family home building continued to shift to low-density and low-cost markets, a trend stemming largely from the COVID-19 pandemic and first reported in the second quarter of 2020.

Immigrants in Construction: Rising Numbers, Falling Share

Eye on Housing

According to the most recent American Community Survey (ACS), the number of immigrant workers in construction approached 2.8 Immigrant workers now account for 24% of the construction workforce, slightly below the 2016 record high share of 24.4%.

Construction Labor Market Adjustment Continues

Eye on Housing

The shock and fallout to the construction labor market from the recession of 2020 continued in early Fall as housing activity strengthened due to low interest rates. Read More › The post Construction Labor Market Adjustment Continues first appeared on Eye On Housing.

Rising rates are slowing home construction

Inman

Markets & Economy Select first american housing construction housing starts John Pataky Odeta Kushi permits TIAAHousing starts plummeted in February as interest rates and lumber costs soared.

NAHB: Multifamily Construction Sentiment Improves

RIS Media

Confidence in the market for new multifamily housing increased in the first quarter of 2021, according to results from the Multifamily Market Survey (MMS) recently released by the National Association of Home Builders (NAHB).

Residential construction on the rise amid major inventory shortage

Inman

Analysis Markets & Economy News Brief doug duncan fannie mae Holden Lewis home construction inventory NerdWallet new construction U.S. Residential housing starts rose 19.4

Homes in Boise, Idaho are “flying off the market”

Housing Wire

1 midsized housing market to watch in 2020 , according to Zillow, because of its draw for young professionals, families, and retirees alike. The demand is clear — the Boise housing market has just 0.3 Especially if a home has acreage, it will “fly off the market.”.

Why we can’t build our way out of this hot housing market

Housing Wire

During the previous economic expansion from 2008 to 2019, the housing market was subject to the constant refrain of build more homes. make corrections to the misguided lending standards) to have a stable, growing housing market once again — and this took time.

Construction spending rises again in April as lumber costs climb

Inman

Residential construction spending continued to grow in April, rising 1.3 Data Industry News Markets & Economy construction daniel houston lumber new build new construction new construction spending

What’s Happening in New Home Construction and Sales?

McKissock

Residential construction and new home sales have been making quite a few headlines lately. Keep reading to catch up on the latest stories and market data related to new home construction and sales. ” New home construction in the news.

Residential Construction Employment Surpasses the February 2020 Level

Eye on Housing

The labor market is improving as many states ease business restrictions and more people are vaccinated. Residential construction employment increased by 37,000 in March, while non-residential construction added 73,100 jobs.

Count of Open Construction Jobs Near Two-Year High

Eyes on Housing

The count of open construction jobs increased in April to 357,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). The housing market remains hot and requires additional labor, lots and lumber and building materials to add inventory.

Townhouse Construction Weakness Continues

Eye on Housing

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction declined during a challenging second quarter. The sector was also relatively weaker than the overall building market.

Buy and build with Welcome Homes’ online new construction platform

Inman

Home Buying Industry News News Brief Select Tech Reviews Technology Virtual Tours 3d tours buyer agents home builders homebuying matterport new construction new construction market online search online tours PropTech real estate technology reviews virrtual tours Welcome Homes

Construction and real estate employment fall in Feb. jobs report

Inman

Construction employment declined by 61,000 as the real estate industry yearns for more housing. Markets & Economy Select construction Coronavirus COVID-19 inventory jobs report real estate jobs unemployment

Construction Employment Changes Little in January

Eye on Housing

The labor market continues its slow recovery amid the COVID-19 pandemic. In January, residential construction employment remined unchanged virtually (-600), after increasing for eight straight months. Currently, job gains in residential construction.

Residential construction rose in May, despite material challenges

Inman

Data Markets & Economy builders housing completions housing permits housing starts hud new residential construction single-family housing permits U.S.

Reduced Turnover in Construction Labor Market

Eye on Housing

The construction labor market experienced a reduced level of turnover in the September BLS JOLTS (Job Openings and Labor Turnover) data. The construction sector hiring rate slowed somewhat in September, coming in at 5.3%, after 5.5%

Knowing new construction gives you a competitive edge — here’s why

Inman

In the meantime, studying the economy, real estate market statistics and particularly the new home construction process will make you a fierce competitor in today’s market and the future. . The inventory shortage isn’t going to last forever.

Housing market inventory is starting to recover

Housing Wire

That’s up 37% from a year ago, but it’s important to take into account that the COVID-19 virus first took hold of the housing market in March 2020, said Doug Duncan, chief economist at Fannie Mae. Suburban multifamily housing construction is also benefitting from this trend.”

4 tips to help you win new construction listings

Inman

New construction listings are a specialized area of the industry that can take an agent’s career to the next level. Here are a few tried and true practices to help you tap into this market.

Homebuilders need to construct 3.8M homes to meet demand

Inman

Markets & Economy News Brief freddie mac homebuilding housing construction housing supply inventory National Association of Homebuilders Sam Khater

Will the Housing Market Maintain Its Momentum?

Keeping Current Matters

Some see this as evidence that the red-hot real estate market may be cooling. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising.” It shows that newly constructed home sales are up 20.7%

Suburban Shift for Home Construction Continues into Third Quarter

Eye on Housing

Read More › The post Suburban Shift for Home Construction Continues into Third Quarter first appeared on Eye On Housing. Economics coronavirus COVID-19 exurbs HBGI home building geography index multifamily construction single-family construction Single-Family homes suburban

Multifamily Construction Shifts to Lower Density Markets in 3Q20

Eye on Housing

Multifamily construction shifted into less dense markets during the third quarter of 2020, per the latest NAHB Homebuilding Geography Index (HBGI). Read More › The post Multifamily Construction Shifts to Lower Density Markets in 3Q20 first appeared on Eye On Housing.

Jump for Open Construction Sector Jobs in March

Eyes on Housing

Job openings in construction increased in March to 344,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). The housing market remains hot and requires additional labor, lots and lumber and building materials to add inventory.

NAHB 4th Quarter HBGI: Suburban Shift for Construction in 2020

Eye on Housing

Single-family construction continued to overperform in suburbs, exurbs and rural communities, according. Read More › Economics affordability coronavirus COVID-19 exurbs HBGI home building geography index home office homebuilding rural single-family construction suburban

New construction is coming to inventory-starved housing market

Inman

Markets & Economy Select Bill Banfield housing starts permits Rocket Mortgage U.S. Privately owned housing starts were up 12.8 percent year over year in October, according to data released Thursday by the U.S. Census Bureau.

Employment gains could help housing inventory

Housing Wire

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. Total construction employment remains 182,000 below its February 2020 level.

Domestic Sawmill Output Not Keeping Up with Construction

Eyes on Housing

Despite a historically low level of overall housing inventory and solid demand due to low mortgage interest rates and demographics, new construction has been unable to add additional needed supply to the market, resulting.

Will the Housing Market Bloom This Spring?

Keeping Current Matters

Spring is almost here, and many are wondering what it will bring for the housing market. Here’s what a few industry experts have to say about the housing market and how it will bloom this season. The experts are very optimistic about the housing market right now.

Residential Construction Employment Remains Unchanged in February

Eye on Housing

The labor market is showing signs of recovery as some states start to ease business restrictions gradually. Employment in construction declined in February due to the severe winter weather in many states.

New Marketing Approach For Pre-Construction Condos?

Toronto Realty Blog

But the points are there: 1) Pre-construction condo sales have plummeted in 2020. 3) The marketing for many of these projects is really snazzy. I’m frankly not surprised that pre-construction condo sales plummeted during a worldwide pandemic. Pre-Construction

COVID-19 remains “wildcard” in 2021 housing market

Housing Wire

Additional lockdowns and quarantines due to COVID-19 could put a dent in housing inventory and sales, potentially slowing down the market and putting increased pressure on buyers, the forecast said. Realtor.com forecasts that 2021 will continue to be a robust seller’s market.

Fannie Mae, and the housing market’s inflation problem

Housing Wire

Another month of steadily increasing home prices and insatiable demand led Fannie Mae ‘s Economic and Strategic Research Group to alter many of its 2021 predictions – in particular, its outlook on the symbiotic relationship between the housing market and inflation measures.