Builders Say Election Impacted Buyer Interest, But It’s Starting To Pick Up

Builders Say Election Impacted Buyer Interest, But It’s Starting To Pick Up

Builders report that election worries have subsided and buyers re-entered the market once the winner was clear. That’s according to Zonda’s New Home Market Update, which found 10% of builders felt the election had an impact on sales. Zonda says this is unusual: “Presidential elections historically don’t have a dramatic or long-lasting impact on the…

Starts Down But Permits Spiked In November

Starts Down But Permits Spiked In November

Housing starts slipped again last month but new construction may soon swell. Overall starts slipped 1.8% last month to a seasonally adjusted annual rate of 1.29 million, according to new data from the U.S. Census Bureau. They declined 14.6% from November 2023. Single-family construction particularly saw a bump, however, rising 6.4% above October’s estimates. But…

Single-Family Starts Tanked In October, Permits Turned Around

Single-Family Starts Tanked In October, Permits Turned Around

Housing starts and permits changed in every category last month, driven by extreme weather and rising rates. Overall starts slipped 3.1% last month to their slowest pace in three months, according to new data from the U.S. Census Bureau. Year-over-year, they declined 4%.  Single-family construction fell by 6.9%, overriding a small September increase, while multi-family…

Starts, Permits Down From August Numbers

Starts, Permits Down From August Numbers

Housing starts and permits were down last month, but completed units are up year-over-year. In a turnaround from August, which saw homebuilding indicators increase unexpectedly, housing starts were down 0.5% to a rate of 1.35 million, according to new data from the U.S. Census Bureau. Year-over-year, they declined 0.7%.  This is in line with predictions…

Starts, Permits Rebound In August

Starts, Permits Rebound In August

Residential construction rebounded in August after a disappointing July, reaching a four-month high driven by single-family building. This is a turnaround from July’s data, which saw homebuilding indicators decline. Single-family housing starts were up 9.6% from July’s revised estimate to a rate of 1.36 million, the fastest pace since April, according to new data from…

Applications For New Homes Slump As Builders Pull Back

Applications For New Homes Slump As Builders Pull Back

Homebuyer interest in new homes slowed in June, coinciding with a decline in builder activity. The Mortgage Bankers Association’s Builder Application Survey unadjusted data for June 2024 found that mortgage applications for new home purchases rose 0.7% YOY but slipped by 16% from the month prior. MBA VP and Deputy Chief Economist Joel Kan noted that…

Multi-Family Buoyed New Construction In June, Single-Family Took A Hit

Multi-Family Buoyed New Construction In June, Single-Family Took A Hit

New residential construction got a boost from multi-family units in June as builders continue to hesitate when it comes to investing in single-family homes. Housing starts were up 3% from May to a 1.35 million annual pace, according to new data from the U.S. Census Bureau. The increase came from a nearly 20% jump in…

Starts, Permits Plummet As Rates Stabilize Near 7%

Starts, Permits Plummet As Rates Stabilize Near 7%

Residential construction reversed gains in March, clocking its biggest dip since August 2023 as builders watch rising rates. Starts and permits both slipped in March, according to data from the U.S. Census Bureau. Starts tumbled by a stunning 14.7% month-over-month to a seasonally adjusted annual rate of 1,321,000. This is below all estimates in a…

Starts, Permits Made A Comeback In February

Starts, Permits Made A Comeback In February

Residential starts made a comeback last month after severe winter weather slowed builders down. Residential home construction increased by 10.7% in February to a 1.52 million annualized rate, according to data from the U.S. Census Bureau. This is the largest increase since May, and well above Bloomberg estimates of a 1.44 million pace. Both single-family…

New Listings Down 15% Compared To Last Year

New Listings Down 15% Compared To Last Year

Listings are down more than 15% from last year, another pain point on the market ahead of the typically zippy spring buying season. HouseCanary’s February Market Pulse Report found that net new listings were 15.3% lower than in February 2023. Overall, inventory is up 11.7% YOY but remains generally constrained, limiting new activity. This is…

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