National Association of Home Builders’ Post

Total housing starts were up 3% in June to an annual rate of 1.35 million units, 4.4% lower than in June 2023. Single-family home starts fell 2.2% to an annual rate of 980,000. Home building permits were up 3.4% from May, but down 3.1% from last year. #realestate #economy #housing

when faced with obstacles in the real estate industry we adapt. As a Mortgage Lender I have seen a noticeable increase in borrowers looking to buy land or start a new build. I love being apart of the solution during these unprecedented times. (Yes I offer land and construction loans in 46 states) #mortgagelender #newconstructionhomes #constructionloans #realestateadvice #economicoutlook

Total housing starts jumped 14.8% in November to an annual rate of 1.56 million units, 9.3% higher than in November 2022. Single-family home starts leapt 18% last month to an annual rate of 969,000. Building permits were up 4.1% from last year. #economy #realestate

NAR economist, Lawrence Yun, leads his conversation by stating we now have a bizarre housing market. Why is the housing market bizarre? The Fed seeks to control inflation by raising interest rates based upon residential rents. They raised rates 11 times on rising rents in 2021 which were caused by massive population migration caused by Covid. Problem. The Fed believes Rents aren’t controled by interest rates. Nope. Rents are controlled by supply and demand for housing in local markets. Mortgage rates however are controlled by interest rates. The Fed made mortgage rates the highest in the past 25 years by raising rates. The Fed made home ownership the least affordable ever. Existing home sales have now fallen to the lowest level since the Great Recession of 2008-2012. Apartment rents are declining by -1% in the US as apartment builders have now over-built in the hottest rental markets. This is a great inflation win provided by apartment builders. With the overbuilding, “new rents” from the Dept of Labor are declining by -5%, the fastest decline ever. The Fed’s other rent data “Shelter” also from Labor is used in the CPI, is showing +5.5%. That’s a big swing, -5% or + 5.5%. Rents account for 43% of Core CPI. Rents control the inflation number. Plug “new rents” into the inflation model at -5% and we have deflation. There are only 4 large metro markets in the US where rents are rising in the 5% range, all other markets are lower to negative. Is it correct to have US residential rent data control World capital interest rates?🤔 By the Fed keeping rates too high, based upon inflated “shelter” data the Fed has caused US interest expense to climb exponentially by 45% year-over-year to nearly $1 Trillion in 2024. US total deficit this year is projected to be $2 Trillion. Too high interest rates has now created an issue for a properly functioning housing market, as well as, the management of our national debt. #realestate #housing #affordability #economics #multifamily #nar #realtor #apartment #cspan

Housing starts fell 6.8% in July to an annual rate of 1.238 million, 16% lower than in July 2023. Single-family housing starts plummeted 14.1% to an annual rate of 851,000, the slowest annual pace in more than a year. Single-family permits were flat.

More affordable homes are on the horizon. An increase in home construction activity translates to more housing supply, and hopefully, more affordable prices. In time, this should make it easier for buyers to enter what has been a challenging market for years. With the recent Fed rate cut, we anticipate even more growth in new construction, bringing homeownership closer to reality for more Americans. Thank you for sharing, National Association of Home Builders.

Some good news for the real estate industry!

The new home construction market is strong, with single new home construction leading the way...

Housing starts dropped 14.7% in March to an annual rate of 1.321 million, 4.3% below March 2023. Single-family home starts fell 12.4% to an annual rate of 1.022 million, 21.2% higher than in March 2023. Overall housing permits dipped month-to-month but were up slightly from last year. #realestate #economy

Great news for the housing market! In February, housing starts in the U.S. surged by 10.7%, reaching an annual rate of 1.521 million homes. This is a significant increase from both the previous month and the same time last year (up 5.9%). This means more single-family homes are being built (11.6% increase!), which will help address the low inventory and hopefully stabilize rising home prices, making them more affordable. While building permits saw a smaller increase, the overall upward trend points to a healthy and robust housing market. This is positive news for potential homebuyers and the overall economy! #realestate #economy