Alliant National Title Insurance Company’s Post

According to Forbes, recent data shows a drop in rent prices, but the US housing market remains short of 6.5 million homes. Why aren't developers building more? The reasons are multi-faceted.  To address the housing crisis, we need more housing at different affordability levels. As a CRE professional, I see the role of real estate in addressing this challenge. We need to create sustainable solutions.  What do you think?  Read the full Forbes article on this subject: https://lnkd.in/gTxfXzVX  #commercialrealestate #CRE #housing #article

Housing Starts Hit 2023 High Housing starts, which had risen modestly in September and October, soared last month, topping 1.5 million units for the first time in 2023. The U.S. Census Bureau and the Department of Housing and Urban Development said construction began during the month at a seasonally adjusted annual rate of 1.560 million residential units. This was an increase of 14.8 percent from October’s rate of 1.359 million units. The November starts also topped those in November 2022 by 9.3 percent and were significantly higher than the consensus forecasts of both Econoday and Trading Economics at 1.360 million units. Construction started on single-family houses at an annual rate of 1.143 million units, an increase of 18.0 percent month-over-month and a whopping increase of 42.2 percent from the prior November. Multifamily starts rose 8.9 percent to 404,000 units, 33.7 percent fewer than a year earlier. Starts totaled 120,500 on an unadjusted basis, up from 113,700 in October. There were 86,100 single-family home starts compared to 80,800 the prior month.

"In a recent article, it was highlighted that the US is facing a shortage of 7.2 million homes. This shortage in housing supply is a significant concern. 🏠This is why if home prices drop, it will likely only be for a short period of time. 🌟" https://buff.ly/4cNNFIb . . #chrissellscentralflorida, #remax, #remaxheritageprofessionals, #polkcountyrealtor, #polkcountyrealestate, #winterhavenrealtor, #winterhavenrealestate, #55+realtor, #newhomespecialist

🏠 Exciting News in the New Construction Housing! 🏗️ The U.S. Census Bureau and the U.S. Department of Housing and Urban Development revealed December New Residential Construction data that contains some compelling statistics about the state of new residential construction. Here are three key points to keep you informed: 1️⃣ Building Permits Surge: Building permits for privately-owned housing units reached a seasonally adjusted annual rate of 1,495,000 in December 2023, 1.9% higher than November and a massive 6.1% increase from December 2022. Notably, single-family authorizations also saw a positive uptick. 2️⃣ Housing Starts Show Resilience: Privately-owned housing starts hit a seasonally adjusted annual rate of 1,460,000 in December. Despite a slight dip of 4.3% from the revised November estimate, this figure is a robust 7.6% higher than the rate observed in December 2022. Single-family housing starts experienced a minor decrease, but the overall trend remains positive. 3️⃣ Impressive Housing Completions: Privately-owned housing completions surged to a seasonally adjusted annual rate of 1,574,000 in December 2023. This reflects an impressive 8.7% increase from the revised November estimate and a noteworthy 13.2% rise from the December 2022 rate. Single-family housing completions and units in buildings with five units or more both contributed to this substantial growth. We need a balance of housing options, so its nice to see growth in multifamily as well as single family. New construction remains strong, even in the face of high mortgage rates, with positive trends in building permits, housing starts, and completions. These statistics not only showcase resilience in the face of challenges but also indicate a promising outlook for the housing market in the coming months. We're still facing a shortage of housing in this country, so the momentum here is very welcome.🌐🏡 #housingsector #newconstruction #realestatetrends #realestate

The U.S. housing market still faces a shortfall of 6.5 million homes despite a recent drop in rent prices. Availability of land and financing factors contribute to the hesitancy in building. Read more from Forbes about the challenges and opportunities that are being considered to address the critical need for housing across our nation.

Around the world, populations are facing a housing shortage. Rising construction costs, rapid urbanisation, population growth and scarcity of land – especially in and around cities – have all combined to create a market of short supply and high demand. In an environment with elevated house prices and rising interest rates, many first-time buyers will struggle to get a mortgage. Hence, residential demand is shifting away from owner-occupied housing towards the rental sector. This makes the rental residential sector an increasingly attractive proposition for investors. Historic property market data shows that residential rental income has the potential to deliver attractive risk-adjusted returns and provides a strong hedge in times of higher inflation. With an annual transaction volume of over USD 200 billion, the US is by far the largest and most liquid rental housing market in the world. In Europe, Germany also offers a very liquid rental housing market, with almost USD 20 billion of annual transaction volume.

This post highlights Lima One Capital's position as a leader in construction lending within the private lending space and mentions their business development team. It also shares recent data from the U.S. Census Bureau and HUD, indicating a significant increase in housing starts, attributed to factors such as cooling interest rates and a shortage of resale inventory. • Construction activity has seen a notable increase, with single-family starts reaching their highest level since April 2022. • Lending expertise is emphasized by Lima One Capital, suggesting a robust team ready to support private real estate lending needs. • Starts in housing have bounced back strongly in February, surpassing economists' expectations and indicating a potential market recovery.

The total value of owner-occupied housing units in the 50 largest metros is $23.48 trillion, up about 38% from 2019 when it was $17.02 trillion. https://lnkd.in/gXwYh448

The lack of medium-density housing options - like townhomes, duplexes, and low-rise apartments - is a major factor in Canada's affordable housing crisis. Zoning laws favouring detached homes and sluggish municipal approval processes have hampered the development of these options in many cities. Residents often resist proposals to increase density, desiring to maintain neighbourhood character. However, embracing diverse housing types is essential to meet the full range of demand and ensure affordability. The problem has been exacerbated by high land, construction, and material costs, which make building any new housing expensive. Ongoing supply chain disruptions and labour shortages stemming from the pandemic have also driven up prices. And record inflation only compounds the issue. To tackle the missing middle, zoning regulations need updating to allow more medium-density development. Approval processes should be streamlined. Incentives for builders can help. While the white-picket-fence still represents the Canadian dream for many, the traditional single-family home has become a significant barrier to affordability. Rethinking our approach to enable more missing middle housing must be part of the solution. At Tango Financial, we understand access to affordable housing is essential for communities to thrive. As your trusted mortgage advisors, we are committed to guiding you through today's complex market with expertise. While major change takes time, we believe that together we can build neighbourhoods where residents at all income levels can find a place to call home. Let's continue the conversation around practical solutions. Your home is out there - let's work to make it attainable.

Realtor.com®: U.S. Housing Supply Short 7.2 Million Homes... While the number of homes for sale has been recovering from pandemic-era lows thanks to a surge of new construction, a new Realtor.com® analysis found that the market is still missing up to 7.2 million homes, the result of more than a decade of underbuilding relative to population growth.