Welcome to the UtahHomeSellingTeam.com Blog

2018-09-20 06:56:18
Housing Inventory and Increasing Construction

Most of these markets are in the West and Southwest, with the gains above mid-2000s bubble, but plenty of other markets are still struggling to recover lost value.

In most of the nation’s largest markets, home values have more than recovered from the collapse of the housing market.

Housing starts were up in August, according to the latest Housing Starts Survey from the U.S. Census Bureau. According to the Survey, privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,282,000, 9.2 percent above the revised July estimate of 1,174,000 and 9.4 percent above the August 2017 rate of 1,172,000.

The Census Bureau found that despite the increase in construction starts in August, now privately-owned building permits fell,  5.7 percent month over month to a seasonally adjusted annual rate of 1,229,000, and down 5.5 percent year over year from 1,300,000 in August 2017.

Despite this, First American Chief Economist Mark Fleming stated that the increase in starts is enough to indicate a strong market.

“The growth in housing starts is welcome news after two consecutive monthly declines,” .

The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief in alleviating housing supply shortages.”

What worries Realtor.com Chief Economist Danielle Hale is the increase in multifamily construction, leaving single-family construction behind.

“Although the jump in starts is good news for the overall economy because multi-family construction will boost GDP and provide jobs and incomes to the builders, the overwhelming majority of multi-family construction is built for rent.” 

It will offer no relief to the inventory-starved home buying market and could exacerbate the trend of renting becoming more affordable than owning. Without entry-level single-family home construction, millennials will continue to lag behind other generations in their ownership rate and experience a delay in the wealth building that comes from homeownership.”

Selling or Buying doesn’t have to be a huge undertaking, but it’s one where details really matter. When you’re working with real estate professional Carriene Porter of Precision Realty & Associates, you’re guaranteed to get the expertise and advice. If you prefer a more personal touch, CALL 801-809-9866 today

   

 

#RealEstateForSale #Homeownership #UtahRealEstate 

 
Blog Archive
2018-12-05 08:02:12
In 2019 Mortgage Payments to Jump 8.4%

2018-12-04 05:56:21
Financing for Manufactured Homes Coming

2018-12-03 07:16:21
Tale of Dual Markets

2018-12-01 08:01:47
Need to Sell Your Home this Winter?

2018-11-30 07:43:20
Buyers Pull Away From New-Home Market

2018-11-29 07:45:39
Mortgage Loan Limits to Rise in 2019

2018-11-28 07:42:53
Home Buyers and Sellers Should Watch in 2019

2018-11-27 07:10:44
Townhouse Construction is Expected to Increase

2018-11-26 07:55:12
Cities With Oldest, Youngest Homeowners

2018-11-24 08:24:08
Overall, December is the Best Time to Buy a Home

2018-11-23 07:29:39
Sluggish Home Sales came to an end in October

2018-11-23 06:43:53
Happy Thanksgiving

2018-11-20 09:19:16
How to Pet-Proof Your House for the Holiday Guests

2018-11-19 07:08:54
10 Great U.S. Ski Towns

2018-11-17 07:12:02
A Way to Keep Aging Parents Close to Home

2018-11-16 07:58:33
Huge Mistake to Take Your Home Off the Market for the Holidays

2018-11-15 07:55:35
Best Mortgage Advice I've Heard, Ever

2018-11-14 07:31:18
Tips to Help You Avoid a Rental Scam

2018-11-12 07:15:39
Buying a Home?

2018-11-10 06:03:39
Mortgage Rates Rise this Week

2018-11-09 07:36:01
Cheaper the Home

2018-11-08 05:56:20
Building Credit History From Scratch

2018-11-07 06:25:07
How to Get a Mortgage Without Freaking Out

2018-11-05 06:42:51
Home Prices Are Decelerating Not Falling

2018-11-03 08:09:28
First-time Homebuyers Transition from Renting

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.