Understand and master new construction to grow your business
Inman
SEPTEMBER 5, 2023
Unlock new opportunities in a low inventory market when you dig into the new construction segment of the residential market.
Construction Marketing New Construction Residential 
Opinion: The “profitless boom” in residential construction
Housing Wire
FEBRUARY 22, 2022
The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Tye Alroe, director of Alroe Constructions , was recently let down by a subcontractor who pulled out of a job at the last minute. “I Enter into contracts that are malleable to market prices.
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Residential real estate activity picks up despite low inventory
Housing Wire
JUNE 6, 2023
Demand from the buyer side has remained steady or increased, however, and new home builders have responded to inventory shortages by increasing speculative inventory production, according to the Federal Reserve Beige Book, released Wednesday. New York – The residential sales market has been strong across the District.
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Construction worker shortage has reached “crisis” levels
Housing Wire
NOVEMBER 4, 2021
For career switchers looking for a new path that doesn’t necessarily require a college degree, they could do worse than the building trades. million new hires for construction. Since the last housing bubble burst, when more than a million residential construction workers lost their jobs , a shortage has developed.
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New Construction Rebounds With 3.9% Jump in July
RIS Media
AUGUST 16, 2023
After a surprising decline in housing starts that perplexed pundits earlier in the summer, new construction ticked up last month, according to the latest new residential construction data from the U.S. Buoyed… The post New Construction Rebounds With 3.9% Census Bureau.
Housing starts rise on falling mortgage rates
Housing Wire
DECEMBER 19, 2023
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. “The But permits for future construction fell 2.5% Housing starts rose in November, significantly beating expectations. from October.
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Opinion: The ripple effect on the U.S. housing market from China’s real estate crisis
Housing Wire
OCTOBER 5, 2023
The real estate market in China, both commercial and residential, have been unwinding over the last few years. Chinese real estate investments extend beyond their borders and if those investors suddenly need to liquidate those assets to cover losses at home , many countries real estate markets could be negatively impacted.
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New home sales dip 2.5% in June, but continue to be an outsized share of the housing market
Housing Wire
JULY 26, 2023
“New home sales continue to be an outsized share of the housing market ,” Lisa Sturtevant, Bright MLS’ chief economist, said in a statement. The market for new homes is booming because the number of existing homes coming on the market has slowed to a two-decade low.
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November housing starts post double-digit gains
Housing Wire
DECEMBER 16, 2021
Construction of single-family homes increased 11.3% million units, while the construction of multifamily units increased 12.9% “Moreover, despite some cooling earlier this year, the continued strength of single-family construction in 2021 means there are now 28% more single-family homes under construction than a year ago. .
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7 Smart Ways To Lower the Cost of Buying a New-Construction Home
Realtor.com
NOVEMBER 17, 2022
Compare that with a preexisting home’s median price of $396,300 , and it’s clear that buying brand-new might set you back tens of thousands of dollars extra. But homebuyers should also know that they can lower the costs of new construction right when they make the purchase through some smart negotiation tactics.
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Standard Features vs. Upgrades in a New-Construction Home: What’s the Difference?
Realtor.com
JANUARY 17, 2023
Getty Images One of the reasons many homebuyers are drawn to buying a brand-new home is that they often get to choose many of the home’s features to suit their tastes. But with new construction, you can call the shots on countertops, fixtures, flooring, paint colors, and so much more to make your home feel like, well, you!
US job growth records strong start to the year
Housing Wire
FEBRUARY 4, 2022
“Labor force participation rate is important because a labor market with low unemployment and low participation means many Americans are not participating in the economy or contributing to its growth,” Kushi said in a statement. “A A low unemployment rate and a high participation rate signals a healthy labor market.”.
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Homebuilders are primed for an even better 2024
Housing Wire
DECEMBER 29, 2023
And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. The business appears durable, too. million and 7.3
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US housing market is short 5.5 million homes, NAR says
Housing Wire
JUNE 16, 2021
The National Association of Realtors says the current state of the housing market is absolutely “dire,” the consequence of a housing shortage 30 years in the making. According to the lobbying group, construction of long-term housing fell 5.5 In fact, coming off the Great Recession, new home construction in the U.S.
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New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True
Realtor.com
JANUARY 2, 2023
Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.
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New home sales rose 12% in May
Housing Wire
JUNE 27, 2023
Strong new home sales have gotten the new construction industry back on track to deliver much-needed inventory for this undersupplied market. They now supply about 30% of the residential sales market. Still, Zillow economists said, there are signs that the existing home sales market might be growing.
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New Construction Pros and Cons: Advantages and Disadvantages
Louisville Homes
DECEMBER 21, 2021
On a regular basis, acquiring good quality construction materials, visiting the construction site, and negotiating with the labor force, laborers, and painters is a physically challenging activity. In this piece, we’ll look at new construction pros and cons. Customization Is Amazing. Limited Options.
The current REO market requires an expansion of services for business growth
Housing Wire
FEBRUARY 22, 2024
Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like? Balancing supply and demand is a delicate dance between new construction and existing properties. HW: How is VRM Mortgage Services growing and changing to meet the current needs of REO asset stakeholders?
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Why You Need a Realtor to Buy New Construction
Realty Biz
APRIL 12, 2023
Buying a new construction home involves a different process than buying an existing home, and some people wonder if they need a real estate agent at all to buy one. While you technically do not need a realtor to represent you when you buy a new construction home, there are a few reasons it would be in your best interest to do so.
Proprietary Capital completes acquisition of AFR, hires new COO
Housing Wire
FEBRUARY 12, 2024
residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. It also has a niche in construction and manufactured home loan programs.
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Benefits of Investing in New Construction Real Estate
Norada Real Estate
JANUARY 27, 2023
When it comes to investing in residential real estate, there are only two basic types of property you can invest in – new construction and resale. New construction properties are those that are purchased directly from the builder or developer who constructed the property. They are the owner and seller.
Become a New Home Construction Expert
The Residential Specialist
FEBRUARY 27, 2024
New home construction can be a profitable niche for real estate professionals who are willing to dedicate the time and effort By Myrna Traylor Most residential real estate professionals enter the real estate field with an eye on the largest market—resales of existing homes.
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New Residential Construction Sees Some Volatility in January
RIS Media
FEBRUARY 17, 2022
The latest January data on new residential construction points to a mostly stable housing market that, in some instances is trending downward, according to the monthly report from the U.S. Nevertheless, the shortage of new homes relative to new households persists. below December 2021.
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Will the Housing Market Maintain Its Momentum?
Keeping Current Matters
APRIL 27, 2021
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.” ” Yun’s insight was supported the next day when the Census Bureau released its Monthly New Residential Sales Report. over the previous month.
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Homebuilders are feeling pretty good right now
Housing Wire
MAY 16, 2023
Homebuilder confidence is continuing to trend upward this spring, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Tuesday. While this is fueling cautious optimism among builders, they continue to face ongoing challenges to meet a growing demand for new construction.
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Institutional buyers pumped the brakes on purchase activity in 2023
Housing Wire
FEBRUARY 23, 2024
In December 2023, a startling rumor started to spread on social media — that large institutional buyers had purchased 44% of the available homes on the market in 2023, leaving policymakers concerned with the potentially predatory grip of these entities. HousingWire lead analyst Logan Mohtashami immediately debunked the claim.
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Inflation moderates to 3.2% in October
Housing Wire
NOVEMBER 14, 2023
. “Shelter inflation has been coming down slowly since the summer, as new residential construction activity ramped up in 2023,” said Lisa Sturtevant, chief economist for Bright MLS. ” The longer inflation stays elevated, the more customers expect inflation to remain high. In comparison, the CPI rose 3.7%
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NAR’s Lawrence Yun predicts lower rates, 15% jump in existing-home sales in 2024
Housing Wire
NOVEMBER 15, 2023
Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). “The bond market is forcing the Fed to pivot.”
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Home Builders Ramp Up Construction Based on Demand
Keeping Current Matters
JULY 5, 2021
Like you, many buyers want to capitalize on these market conditions, and it’s leading to more buyer competition and bidding wars. Early indicators show new-home construction is beginning to ramp up. Evangelou refers to the volume of new homes where construction began during a set period, known in the industry as housing starts.
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“It’s crazy”: Homebuilders big and small struggle to finish projects
Housing Wire
FEBRUARY 22, 2022
homebuilder, housing starts, lumber, builders, builder confidence, construction. Owing to a historic inventory crunch, new construction is playing a more prominent role in the housing inventory landscape in decades. single family homes on the market were new builds, according to a report by Redfin.
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July’s new housing activity jumps back up amid increased demand
Housing Wire
AUGUST 17, 2020
Last month, Buildfax estimated if single-family authorizations and existing housing activity continue to gain, new construction could stabilize in the Fall. This sentiment is supported by recent data from the National Association of Home Builders that stated residential construction employment rose by 24,000 in July to 2.8
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Optimism spreads after new home sales climb in December
Housing Wire
JANUARY 26, 2023
New home sales increased in December — a sign that new residential sales have continued to rebound in recent months. Last month, new home sales increased by 2.3% In addition, the median sales price of new houses that were sold in December dropped to $442,100, and the average sales price dipped to $528,400.
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The Most Luxurious New Construction Condo Developments in the U.S. Right Now
Realty Biz
JUNE 15, 2021
Residential construction in the U.S. Despite declines in both affordability and availability, however, the luxury new construction condo market across the country features more than a few intriguing options, starting with these high-profile developments: 1000M – Chicago, IL. SPIRE – Seattle, WA.
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Only in Austin, Texas are home prices sinking
Housing Wire
JULY 10, 2023
As the spring homebuying season comes to an end, there are distinct signs of the housing market reheating from a home price perspective. markets seeing prices at or above 2022 peaks. below peak, the largest gap of any market. Just eight of the top 50 markets are currently more than 5% below their 2022 peaks.
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Here’s how wholesale lenders and brokers are navigating near-8% mortgage rates
Housing Wire
OCTOBER 6, 2023
Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. “There is too much distraction in the market; there are some negative folks out there.
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Housing starts slide, but there are reasons for optimism
Housing Wire
OCTOBER 19, 2022
“Soaring interest rates took hold of the housing market in September, with rates climbing towards 7%,” Nicole Bachaud, an economist at Zillow , said in a statement. The new construction industry was not blind to the impacts this will have on housing demand. million housing units under construction, an all-time record.
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Some mortgage companies expanding despite challenges
Housing Wire
MAY 31, 2022
Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. Chicago’s housing market started out hot in 2022. About 1,820 homes were sold in the city in January alone, a 7.2%
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August jobs numbers are bad, but there’s a silver lining
Housing Wire
SEPTEMBER 3, 2021
“Residential construction employment (including specialty trade contractors) grew by 17,400 in August, up from the prior month,” said Mark Palim, deputy chief economist at Fannie Mae. First American Deputy Chief Economist Odeta Kushi said that residential building employment is now up 5% above pre-pandemic levels.
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Home prices accelerated in March even as mortgage rates climbed
Housing Wire
MAY 30, 2023
Low inventory , maintained by an extremely low level of new listings coming onto the market, has fueled demand amongst the few buyers who can afford to stay shopping. As inventory remains a challenge in this market, so too will affordability be rocked by stubbornly high prices that aren’t looking to move drastically any time soon. “As
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Opinion: Why agents are more essential than ever
Housing Wire
OCTOBER 4, 2023
Real estate agents play an undeniable and integral role in today’s housing market. Left to their own devices, most people — particularly renters — view the rental segment and the for-sale market as distinctly different and unrelated entities, with the latter one often perceived as being far out of reach.
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What to expect from homebuilders in 2023
Housing Wire
DECEMBER 20, 2022
After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. As a result, I think it has actually insulated some aspects of the market.
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Homebuilders are at max capacity. And the housing shortage keeps widening
Housing Wire
AUGUST 3, 2023
Everywhere you look there seems to be bad news for the existing-home market — interest rates remain north of 7% and the median home price nears record levels at more than $410,000 as of June. New-home sales were up nearly 24% in June year over year, according to the U.S. We need to build above 1.1
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What Are Builder Incentives? The Secret to Getting a Deal on a New-Construction Home
Realtor.com
NOVEMBER 7, 2022
. “You will find these incentives explained on websites, social media, signs, and other places a builder might advertise to the public,” explains Kimberly Mackey , founder of New Homes Solutions and a sales and marketing management consultant specializing in residential homebuilding.
Homebuilders capitalizing on lack of housing inventory
Housing Wire
MAY 17, 2023
Despite elevated mortgage rates and a slower-than-typical spring housing market , homebuilders are feeling confident about the outlook for new housing demand because the inventory of existing homes for sale remains very constrained,” Lisa Sturtevant, the chief economist of Bright MLS , said in a statement. to 400,000. million to 5.5
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