Updated info on June in the building industry. https://lnkd.in/gm8tdysk
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
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
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
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
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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
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
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Things are heating up in the home building industry.
Total housing starts in the U.S. jumped 10.7% in February to an annual rate of 1.521 million, 5.9% higher than a year ago. Single-family home starts soared 11.6% to an annual rate of 1.129 million. Building permits were up modestly last month. #realestate #economy
Some good news for the real estate industry!
Total housing starts in the U.S. jumped 10.7% in February to an annual rate of 1.521 million, 5.9% higher than a year ago. Single-family home starts soared 11.6% to an annual rate of 1.129 million. Building permits were up modestly last month. #realestate #economy
#AI still doesn't know how to frame or get things right in real estate photos mock ups, like not using NAHB advanced framing techniques to design. Or, a door jamb. Or, a rim joist. See any others? Please don't use this picture as an example of how to build your next home. Use a #NAHB Pro that understands the green potential of a good design. Marketing is educational. AI is a powerful tool, when it works correctly.
Total housing starts in the U.S. jumped 10.7% in February to an annual rate of 1.521 million, 5.9% higher than a year ago. Single-family home starts soared 11.6% to an annual rate of 1.129 million. Building permits were up modestly last month. #realestate #economy
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
Housing starts rebound in February by largest amount in nine months: https://lnkd.in/gcSCXHQ4
