Mortgage rates are falling and builders are offering incentives to buyers, but that wasnât enough to prop up new home sales in 2022.Â
Built’s Chris Boyd sits down with HousingWire to discuss homebuilder trends to watch in 2023 â including supply, demand, labor and lending.
However, homebuilder Jerry Konter noted that single-family production is running well below a one million-unit rate, indicating ongoing weakness in the housing market as high construction costs and elevated interest rates continue to present affordability challenges. “Even though single-family starts are up on a monthly basis, permits indicate that the housing market will slow down … [Read more…]
New U.S. home construction declined for a fourth-straight month in December, wrapping up a disappointing year for an industry that saw annual housing starts fall for the first time since 2009. Residential starts decreased 1.4% last month to a 1.38 million annualized rate, a five-month low, according to government data released Thursday. New construction fell … [Read more…]
A slowing housing market led homebuilders to pull back, starting just 1.53 million housing units in 2022, down 3% from 2021.
The Census Bureau’s housing starts report for December shows that housing completions are still too slow and we are running out of time.
A friend out in California asked me how much, on average, I spend on a bottle of wine. I replied, âAbout half an hour.â Plenty of wine is being consumed while watching Yellowstone and 1923, and while all the women are ogling Spencer Dutton in 1923, in some non-mortgage news to save the economy the Secretary of Homeland Security will announce next month that the Immigration and Customs Enforcement will start deporting seniors (instead of illegals) to lower Social Security and Medicare costs. A major study concluded that older people are easier to catch, offer less resistance, and, more importantly, will not remember how to get back home. In actual news, lenders who own servicing continue to peel it off because it either doesnât fit their portfolio, or they need the cash. The owners of lenders continue to examine various business strategies as we start 2023, with some thinking that it doesnât make sense to remain the size they are. There was a lot of mergers and acquisition activity last year, big and small. I am told by my M&A friends at STRATMOR (Garth & David) that 2023 is lining up for even more. (Both will be in San Diego at the IMB Conference if you want to confidentially meet up.) This weekâs podcast is sponsored by Candor. Candorâs patented automated underwriting decision engine, CogniTechâ¢, is a state-of-the-art, 100% machine platform that can handle infinite loan scenarios. Todayâs has Part Two of an interview with Tom Booker and Tom Showalter on how every underwrite is an anomaly.
Housing starts declined slightly in November, but economists are more troubled by the lack of building permits issued to homebuilders.
Recession: Likely Correction: Maybe Crash: Unlikely Recession Housing Recession = Loss in Construction Jobs In the last 10 years, home builders have been busy. But, housing supply doesnât have a cartel like oil suppliers have OPEC. So, most builders & many city councils got overzealous…
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