Total residential sales in Red Deer were down nine per cent from a year ago at the end of November. The drop can largely be attributed to a pullback in detached home sales and a lack of choice due to inventory levels half what they usually are at this time of year, says Alberta Real
Econ & Housing
The Federal Reserve’s plan to tame the housing frenzy with higher interest rates has a major blind spot: More than 40% of all U.S. mortgages—most of which are fixed-rate—were obtained in 2020 or 2021 when rates were at rock bottom. According to Creditnews research, about one-quarter (23.4%) of mortgages were originated in 2021 when the 30-year mortgage
Most institutional landlords aren’t flooding the housing market with inventory, but VineBrook Homes is an exception. BY LANCE LAMBERT 1 MINUTE READ Want more housing stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the daily free ResiClub newsletter. As ResiClub noted a few weeks ago, the slowdown in institutional homebuying hasn’t translated into a massive flood of U.S.
By Ashok Chaluvadi on December 7, 2023 • According to data from the Census Bureau’s Survey of Construction (SOC), 62.6% of single-family homes started in 2022 were built within a community or homeowner’s association. This marks the second year in a row that the share declined, from the high point of 67.1% posted in 2020,
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 1.2% in October, after a dip in September. It stood at a seasonally adjusted annual pace of $884 billion. Total private residential construction spending is 0.7% higher compared to a year ago. This was the first year-over-year increase since December 2022. The total
By Fan-Yu Kuo on December 6, 2023 • Information obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, shows the share of new homes with a two-story foyer slightly increased in 2022. The increase was particularly notable in West South Central and New England. However, most new single-family homes were
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