Residential construction jobs slowly return

Housing Wire

Of the 10,000 construction of buildings jobs created in November, 4,100 were in the residential sector. In the specialty trade contractor jobs sector, 6,200 were in residential construction. for residential construction building, a faster pace than previous months,” Kushi said.

New Residential makes another round of layoffs

Housing Wire

Lender and servicer New Residential Investment Corp. New Residential, the parent company of NewRez and Caliber Home Loans , declined to comment about the layoffs. “It To reduce costs, New Residential announced in June that it had decided to internalize the company’s management.

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Residential Building Wage Growth Slowing

Eyes on Housing

Average hourly earnings for residential building workers* continue to rise in August but at a slower pace. Read More › Construction Statistics Economic Indicators Economics Housing Data Housing Trends average hourly earnings labor market residential building wages

Progress Residential unveils 36th private-label SFR offering 

Housing Wire

Another single-family rental (SFR) securitization deal sponsored by a large institutional player, Progress Residential , is slated to hit the private-label market this month, bringing the total securitization-deal count for Progress to seven so far this year.

New Residential to internalize management, change name to Rithm Capital?

Housing Wire

New Residential Investment Corp. New Residential will start trading on the NYSE as “RITM” on or about August 1, 2022. The post New Residential to internalize management, change name to Rithm Capital?

New Residential already seeing the benefits of Caliber deal

Housing Wire

Powerhouse lender/servicer New Residential Investment Corp. Michael Nierenberg, who heads New Residential, gave the industry a glimpse of where things stand after the acquisition, noting in a statement that the “integration of Caliber and Newrez mortgage platforms is well underway.”.

Opinion: The “profitless boom” in residential construction

Housing Wire

The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. The post Opinion: The “profitless boom” in residential construction appeared first on HousingWire.

New Residential scoops up fix-and-flip lender

Housing Wire

New Residential Investment Corp. New Residential said that it expects Genesis to originate close to $2 billion of loans in 2021 and that the fix-and-flip lender has originated over 12,000 loans since 2014.

Residential Building Worker Wages Grow Rapidly

Eyes on Housing

Average hourly earnings for residential building workers have been growing fast recently, driven by the tightening construction labor market. As the labor market remains tight, wages have increased rapidly, particularly in residential building sector.

Residential construction jobs now 7.6% above pre-COVID level

Housing Wire

Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. Employment in the construction sector is 40,000 higher than its level in February 2020, while employment in residential building is 7.6%

Michael Bright: Where residential mortgage-backed securities can take sustainable investing

Housing Wire

What does ESG’s growth and current ubiquity mean for residential MBS markets? If done responsibly, ESG and RMBS should coexist in a positive, self-reinforcing, meaningful way, and one that establishes the residential mortgage market as a best practices leader in the movement overall.

Residential Building Worker Wages Continue to Rise

Eyes on Housing

Compared to a year ago, average hourly earnings for residential building workers continue to rise, as the construction labor market remains tight. According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers were $28.66

Residential Construction Loan Growth

Eyes on Housing

The second quarter of 2021 marked the second consecutive quarter of loan growth for residential construction loans. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased by 4.9%

Private Residential Spending Slides in July

Eyes on Housing

Private residential construction spending declined further in July, as rising mortgage rates and elevated construction costs put a damper on the market. Private residential construction spending was 14.1%

LoanDepot creates joint venture with Brookfield Residential

Housing Wire

LoanDepot and Brookfield Residential announced on Wednesday the creation of a joint venture, BRP Home Mortgage. BRP will deliver a streamlined mortgage experience for Brookfield Residential homebuyers, said Dan Peña, executive vice president of national joint ventures for loanDepot.

September Private Residential Spending Stays Flat

Eyes on Housing

Private residential construction spending was virtually unchanged in September, with spending on single-family construction dropping just 2.6%. The value of September private residential construction put in place was at an annual pace of $918 billion, about 12.7%

Gains for Residential Construction Loans

Eyes on Housing

Residential construction loan volume reached a post-Great Recession high during the fourth quarter of 2021, as home building activity posted gains for the year. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased 1% during the fourth quarter.

Residential construction jobs still haven’t returned

Housing Wire

Unfortunately for the residential housing sector, most of these jobs were in nonresidential specialty trade contractors (19,000), and in heavy and civil engineering construction (12,000). Residential building is up 5.4% compared with its pre-COVID pace, while non-residential building remains 4.4% The post Residential construction jobs still haven’t returned appeared first on HousingWire.

Residential Building Worker Wages Continue to Rise Amid Uncertainty

Eyes on Housing

Average hourly earnings for residential building workers* continue to rise in May as the construction labor market remains tight, meanwhile the growth rate is trending down given tightening financial conditions and increased economic uncertainty.

Residential Construction Employment Rose Slightly in April

Eyes on Housing

Residential construction employment rose by 3,100 in April, after an increase of 28,700 in March. Non-residential. Job gains unexpectedly slowed in April as states lifted COVID-19 restrictions on businesses and more people are vaccinated.

March Gains in Private Residential Construction Spending

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1% in March after an increase of 0.7% Total private residential construction spending was 18.4%

Residential Construction Spending Trends Upward in February

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.1% Total private residential construction spending was 16.6%

December Gains for Private Residential Spending

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.1% Total private residential construction spending was 15.0%

January Private Residential Spending Up 1.3%

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.3% Total private residential construction spending was 13.4%

Real estate tech roundup: Hubzu and Brookfield Residential

Housing Wire

Online real estate marketing platform Hubzu has launched a new mobile app, available for residential real estate buyers. Hubzu is an end-to-end asset management platform for residential foreclosure, short sale, REO, deed in lieu, CWCOT and retail property auctions.

Private Residential Spending Inches Up in May

Eyes on Housing

NAHB analysis of the Census Construction Spending data shows that private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $938.2

Private Residential Spending Declines in June

Eyes on Housing

As mortgage rates reached 3-year high, private residential construction spending decreased 1.6% to a seasonally adjusted annual rate (SAAR) of $923.7 billion in June, according to NAHB’s analysis of the Census Construction Spending data. It was the first decline since May 2020.

August Private Residential Spending Falls for Third Straight Month

Eyes on Housing

Private residential construction spending declined 0.9% Private residential construction spending declined for the third consecutive month, standing at an annual pace of $921.9 in August, as single-family construction spending slid amid surging mortgage rates.

April Gains for Private Residential Spending

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.9% Total private residential construction spending was 18.4%

How agents transition successfully from residential to commercial real estate

The American Genius for Real Estate

The post How agents transition successfully from residential to commercial real estate appeared first on The American Genius Real Estate. Op/Ed commercial real estate goldberg mentorship Real Estate News Residential Real Estate

Private Residential Spending Dips for Second Month

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate of $774.9 Total private residential construction spending was 16.7%

Private Residential Spending Dips in September

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending decreased 0.4% Total private residential construction spending was 19.3%

MBA adds four to its Residential Board of Governors

Housing Wire

The Mortgage Bankers Association (MBA) announced the new members of its 2021 Residential Board of Governors and the Chairs of the Residential Committee. ” RESBOG is the MBA’s main policy-setting group, focusing on issues involving the single-family residential market.

Residential Construction Is Recovering Faster Than Non-Residential Construction

Eye on Housing

Total construction industry (both residential and non-residential) employment totaled 7.4 Residential construction employment rose by 15,400 in November to 2.9 In the past seven months, job gains in residential construction offset.

Private Residential Spending Rises in November 2021

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.9% Total private residential construction spending was 16.3%