MarketNsight is a leading real estate data and analysis provider across the Southeast and tracks pending sales weekly to identify the latest housing trends faster than anyone else. Most recent data confirms that the prolonged period of elevated mortgage rates post-pandemic has created a new normal in the housing market. Sales are down 20% from 2019. The missing 20% is made[...]
Creating missing middle housing is a solution to the housing shortage, yet in most places, it is illegal because zoning won’t allow it. So, in essence, missing middle housing is a great solution, yet it remains missing. According to the National Association of Home Builders, missing middle housing includes townhouses, duplexes and various multi-family properties. This medium-density sector has been decreasing[...]
MarketNsight, a leading real estate data and analysis provider, presented its state-of-the-market report and 2024 predictions during Market Watch calling for zoning reform and new housing solutions. "Nationwide job growth of nearly 3 million jobs in 2023 underscores the urgent need for increased housing supply to accommodate new workforce entrants, whether they rent or buy," said John Hunt, Principal and Chief[...]
MarketNsight, a leading real estate data and analysis provider, reports that even after six weeks in a row with 30-year fixed mortgage rates higher than 7%, pending sales are performing better than in the fall of 2022. “Home buyers have become accustomed to higher rates, and the market continues to be driven by the lack of housing supply,” said John Hunt,[...]
Dr. Robert Dietz, Chief Economist of the National Association of Home Builders (NAHB), recently addressed the public affairs and communications committee at the fall leadership meetings in Palm Springs, California, sharing information on the US Housing Market. As an active member of NAHB, I am fortunate to chair public affairs for NAHB this year and have the opportunity to hear[...]
A recent Fortune article reports that Warren Buffet just made a big bet on the U.S. housing market, and from Blue River Development's perspective, it is easy to see why. The recent investment by Warren Buffett's Berkshire Hathaway in three leading U.S. homebuilders – D.R. Horton, Lennar and NVR – signals strong confidence in the U.S. housing market. The investments, worth[...]
When will housing recovery happen? "The bottom line is that we will not see a real housing recovery until mortgage rates fall below 6%, and it will take 30-year Fixed rates moving closer to 5.5% to see any dramatic improvement at all," said MarketNsight Chief Analyst John Hunt. MarketNsight takes a look at December stats. Home sales improved the first week of[...]
Homes below $300,000 are almost nonexistent “The housing shortage will get worse over the next year,” MarketNsight Chief Analyst John Hunt said at MarketWatch Atlanta. To get back to normal, Atlanta needs 66,000 additional homes on the market over the next 12 months. “We simply don’t have enough supply,” Hunt said. Before the Great Recession, housing starts and population growth tracked together,[...]
As inflation continues to rise, the cost of roofing materials follows suit. Shingles, the most common choice for residential roofs, have seen steady increases in new roof costs over the past few years. Flat roof materials, such as modified bitumen and single-ply membranes, have also experienced a rise in price. Even metal roofing, a more durable option that often has[...]
Atlanta Housing Market - Increased sales, limited lot supply, Gwinnett is HOT! St. Bourke, an Atlanta-based asset management and property development company, gives a snapshot of the Atlanta housing market at the end of Q2. Economic indicators remain positive; however, home affordability has weakened against inflation, rising interest rates and the threat of recession. Demand is still present, and inventory is[...]