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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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As the lock-in effect eases, the market for new homes is shrinking

Housing Wire

New construction inventory has grown in recent months. Homebuilders have backed off since the pandemic-driven building boom, with high mortgage rates dampening demand; they’re focused on selling the new homes they have on the books rather than constructing new ones,” Redfin noted in the report. year over year in September.

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Maryland-based Anchor Home joins Compass

Housing Wire

Anchor Home specializes in high-end residential sales, staging, new construction consultations and renovation strategies. Hays, a Maryland native with 19 years in real estate, has a background in new construction and specializes in active adult communities, downsizing and first-time homebuyers. Their average listing price is $1.7

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How New Hampshire is looking to alleviate its housing crisis

Housing Wire

It is encouraging to see some uptick in apartment construction in some of our larger communities. Underlying issues Despite this progress, Dapice and others are frustrated by the lack of new construction especially starter homes in the state. They want to attract younger employees, including recent college graduates.

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Can a market be too hot? Should smaller developers get worried when bigger developers pile in

Housing Wire

Labor is everything A crowded construction market can make costs more variant, particularly in today’s strained labor market. According to the Associated General Contractors of America (AGC), the construction industry faces a shortfall of approximately half a million jobs , even before considering ongoing hiring needs.

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Natural disasters like the LA fires will deepen the U.S. housing crisis

Housing Wire

The resulting housing market crash and the Great Recession led policymakers to overcorrect by tightening mortgage lending standards and limiting funds for new construction. Housing policy needs to be better at planning for the needs of different age groups and their life stages to avoid mismatches between supply and demand, Myers said.

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The Fed’s monetary policy is stifling new construction

Housing Wire

With homebuilders completing more homes in their backlog and 5-unit permits basically at recessionary levels, we are at the stage where policy is going to impact the future supply of shelter. Anyone who thinks we are on the verge of a housing construction boom is kidding themselves, with the policy still this restrictive.