HUD User’s Post

Single-family homes made up 77% of the total building permits in NWA. We need more missing middle housing to not only accommodate growth, but to preserve our natural greenspace and working lands. Read this insightful article from Axios NW Arkansas about homebuilding rates and elements that have impacted construction in NWA. https://lnkd.in/g2sWf4kF

Did you catch our latest blog on housing market trends? The housing market trends continue to indicate growth for 2024, despite a myriad of challenges over the last quarter. The National Association of Home Builders (NAHB) notes that despite elevated interest rates, home builder sentiment and construction starts indicate the potential for housing sector growth in the current months. Although permits and starts were slightly flat or down month over month, they are up year over year both nationally and in several key regions for both Belco and our trade partners. Let's continue to look under the hood of housing market trends in this month's Belco Bulletin. https://lnkd.in/e9uUvntP -- #HousingMarket #HomeBuilders #LumberDealers #ConstructionIndustry

#jennifergurnellrealestate #gurnell #williamraveis In today's tight inventory market, you probably want more options for your search. And new home construction could be a game-changer. Right now, there are more new builds than the norm. But that doesn’t mean we’re overbuilding – there's still a shortage. It just means more options for you. Have questions about what’s available near us? DM me. #newconstruction #realestateadvice

Building approvals fall 24% 🏠🔨📉 The number of home building approvals remains at low levels, pointing to a shortage of new housing in the not-too-distant future. Read more: https://buff.ly/43f1DyZ #property #realestate #homeloans

Keeping you updated on the Housing Market! In today's tight inventory market, you probably want more options for your search. And new home construction could be a game-changer. Right now, there are more new builds than the norm. But that doesn’t mean we’re overbuilding – there's still a shortage. It just means more options for you. Have questions about what’s available near us? DM me. #newconstruction #realestateadvice

Calling all real estate professionals! The rise in new-home construction isn't just a trend; it's a game-changer for your business. "The new-home market is becoming a dominant player, and we expect that to continue in 2024," says Ali Wolf, Chief Economist at Zonda. With townhome construction skyrocketing, homebuyers are in for a treat with more affordable options in medium-density neighborhoods. Builders are innovating to tackle affordability issues, leading to a surge in townhome construction, reaching its highest rate in over 17 years, according to NAHB analysis. This shift opens doors to more affordable housing solutions, especially for those seeking medium-density residential neighborhoods. Want to read more? The entire article is here: https://lnkd.in/euh6DVr2 #PinnacleRealtyAdvisors #RealEstate #HomeBuyingTrends #NewConstruction #IndustryInsights #RealEstate2024

Home Building Crisis: Why Rates Are Stalling Development In this video, we explore how rising rates are impacting home developers and the housing market. Discover why many builders are pausing projects and the implications for future home availability. Is the housing shortage about to worsen? Watch to find out! #HomeBuilding #HousingMarket #RealEstateTrends #ConstructionChallenges #DeveloperInsights #MarketRates #HousingCrisis #BuildYourHome #RealEstateInvesting #FutureOfHousing

The NAHB provided the national averages for itemized costs in each stage of construction for a new single-family home in 2022. https://lnkd.in/gr3RdhGi The data comes from NAHB’s construction cost survey published last year. Among the homebuilders surveyed, the average sales price of their single-family homes in 2022 was $644,750 and includes costs for construction, the finished lot, financing, overhead and general expenses, marketing, sales commission, and profit. Total construction costs for the average single-family home included in the survey was $392,241. The pie chart below breaks out those costs for the average home.

Today, the Ontario Government released bold measures that, IF APPROVED, will go a long way to getting More Homes Built Faster, including: 🏠 Allowing homebuyers and homebuilders to determine how much parking to include with new transit-orientated residential development. This measure will reduce costs, enable homes to be built faster and make it easier to build more secondary suites; 🏠A new “use it or lose it” process to ensure infrastructure-ready lands are built up without delay; 🏠Limiting third-party appeals at the Ontario Land Tribunal, thereby providing municipalities and builders with more ability to get shovels in the ground quickly; 🏠Streamlined development approvals processes for student housing; 🏠Approved standardized housing designs, including modular homes; and, 🏠Support for innovative construction methods such as mass timber. #MoreHomesBuiltFaster | Ontario Government | Gouvernement de l’Ontario | Doug Ford | Natalie Pierre | Effie Triantafilopoulos | Donna Skelly | Sam Oosterhoff | Bobbi Ann Brady

Dwelling completions rise 1.2%, but remain low There’s mixed news on the homebuilding front, based on the latest Australian Bureau of Statistics data. In positive news, the number of homes built in the year to June 2024 (176,131) was 1.2% higher than the number built in the year to June 2023 (173,996). However, that means we’re currently below the annual target of 240,000 dwelling completions needed for the federal government to achieve its goal to facilitate the building of 1.2 million new homes in the five years from July 2024. Also, the number of homes built in the five years to June 2024 (894,999) was well below the government’s five-year target – and well below the number of homes built in the five years to June 2019 (1,041,196). #property #realestate #homeloans