Single-family construction is shifting away from large urban areas
As the housing market cools, single-family building is shifting from metro core areas to micro and non-metro/micro counties.
As the housing market cools, single-family building is shifting from metro core areas to micro and non-metro/micro counties.
MBA estimates new single-family home sales were running at an annualized pace of 725,000 units in January, up 13% from the December rate of 641,000 units. On an unadjusted basis, there were an estimated 63,000 new home sales in January, an increase of 40% from 45,000 new home sales in December. “However, activity was still … [Read more…]
Once the housing completion data looks better, the growth rate of rent â which is the biggest driver of core CPI â can cool down.
L.A., San Francisco and other cities need massive private development to supply homes and reduce homelessness. That’s why reforms like SB 9 fail.
The homebuilders got lucky in the current recession since they don’t have to compete with millions of existing homes.
Homes were started at an estimated annual pace of 1.309 million in January, down 4.5% month over month, according to a report released Thursday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD).
Fannie Mae reported a net income of $12.9 billion in 2022, down sharply from $22.1 billion in 2021. And it expects 2023 to be even rougher.