Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

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Where are real estate insiders putting their money on construction?

Multifamily jumps but single-family starts, permits weak

With mortgage applications at multiyear lows and hitting a two-decade low in late February, it looks like both construction companies and investors are shifting away from single-family housing and towards multifamily housing construction, according to data from the U.S. Census.

Permits jumped 24.3% for multifamily units while single-family permits dropped 1.8% in both February and January.

Overall permits jumped 7.7% to a 1.018 million unit pace after decreasing 4.6% in January.

Housing starts came in much as expected, below expectations and down from January. Overall starts nudged down 0.2% to a 907,000 annual rate from an upwardly revised 909,000 rate for January, which followed a downwardly revised December number of 1.024 million.

Analysts projected 910,000 units for February. January and December previously were 880,000 and 1.048 million, respectively.

Single-family starts rose 0.3% after a 13.2% plunge in January. Multifamily starts dipped 1.2% in February after a 7.6% decline the month before.

Housing starts in January were hit by extreme cold as starts plunged 16.0% to a 880,000 annual unit rate. Starts of single-family homes fell 15.9% to 573,000 with condos similarly in line, down 16.3% to 307,000.

Starts in the South, which is by far the largest region for this report, fell 12.5% with the West, the second largest region, showing a 17.4% decline, despite the weather in January in these regions not being severe as it was in the northeast.

Permits, which are less affected by weather, showed a smaller decline and probably more closely reflect the underlying trend for the new home market.

Permits fell 5.4% to a 937,000 unit rate with single-family homes showing relative strength, down only 1.3%. Regionally, the South showed a 3.4% gain while the West showed a big decline, down 26.0%.

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