New Construction

NAHB: Builder confidence continues to rise in November despite supply issues
NAHB: Builder confidence continues to rise in November despite supply issues

November’s reading of 83 was up three points from October, driven by low existing inventories and strong buyer demand, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.

Supply chain woes hamper housing starts in October
Supply chain woes hamper housing starts in October

Housing observers noted that demand for housing remains robust despite the lack of new supply.

New-home sales rebound in September as prices hit new record
New-home sales rebound in September as prices hit new record

“There simply aren’t enough homes for sale relative to the demand fueled by millennials armed with low mortgage rate-driven house-buying power.” — First American Deputy Chief Economist Odeta Kushi

New-home construction cools in September
New-home construction cools in September

The decrease was driven by a 5.1% month-over-month slide in the rate of multifamily starts, while single-family construction was flat.

New-home sales rise in August
New-home sales rise in August

The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.

More density coming to Bothell
More density coming to Bothell

With a population of 45,000, Bothell is booming and attracting housing developers in droves, including Vulcan Real Estate and other big names. Credit is due in large part to the dozens of biomedical companies located there.

Apartment production slows to a 5-year low in Seattle metro
Apartment production slows to a 5-year low in Seattle metro

Despite strong growth in the apartment sector nationwide, production in the Seattle area is expected to hit a five-year low in 2021 — a decline of 19% from 2020 levels — reports RENTCafé, a nationwide apartment search website.

New-home construction falls in July
New-home construction falls in July

“The bright spot in an otherwise underwhelming report comes from the increase in the overall number of permits issued, which can signal how much home construction is in the pipeline.” — First American deputy chief economist Odeta Kushi

Canyon Partners, American Capital Group team up on Burien opportunity zone project
Canyon Partners, American Capital Group team up on Burien opportunity zone project

Canyon Partners Real Estate LLC and American Capital Group have formed a joint venture to develop [email protected], a 230-unit apartment project in the Seattle suburb of Burien.

Could zoning changes help boost supply and balance the market?
Could zoning changes help boost supply and balance the market?

With high costs slowing construction and potentially lowering homeownership for many, easing zoning rules may be the most effective way to increase the supply of new housing.

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