Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Mortgage Tech Virtual Demo Day

Tune in to our live Virtual Demo Day on December 1st at 10am CT to experience demos from the most innovative tech companies in the Servicing, Audit and Post-Close space.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Real Estate

NAHB: Single-family home starts rose 4% in 2018

There was a slow down in six divisions

Analysis from the National Association of Home Builders shows that were 881,076 new single-family houses units started in 2018, a 4% increase over 2017.

The report shows that last year saw twice as many units started as they were in 2011, but last year was still 49% less than the peak of 2007, when there were 1,731,171 units started.

In 2018, in the Pacific Division, there were 98,760 new single-family units started, while in the East North Central Division, there were 78,858. The Pacific Division accounted for 11% of the total new single-family housing starts, and the East North Central Division accounted for 9%.

East South Central, West North Central, West North Central, Middle Atlantic and New England accounted for the remaining 18% of total new single-family housing starts.

Compared to 2017, the New England Division and the Mountain Division had a noticeable acceleration in growth in 2018.

Even though New England Division had the smallest amount of growth with 25,797 starts, the New England Division also grew by 13% in 2018, after a 5% growth rate in 2017.

(Image courtesy of the National Association of Home Builders. Click to enlarge.)

Six of the nine divisions saw a noticeable deceleration in growth in 2018, including the West North Central Division, which saw a 14% decline in 2018, the largest out of those divisions. Conversely, the West Central South Division saw an increase of 8% in 2018, the same amount of increase it saw in 2017.

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3d rendering of a row of luxury townhouses along a street

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