The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Search A A A REAL ESTATE RESEARCH ABOUT January 3, 2018 REAL ESTATE RESEARCH SEARCH Real Estate Research provided analysis of topical research and current issues in the fields of housing Where Is the Housing Sector Headed? Search and real estate economics. Authors for the blog included the Atlanta Fed's One element that has distinguished the expansion following the Great Recession Jessica Dill, Kristopher Gerardi, Carl Hudson, and analysts, as well as the from expansions following prior recessions is the slow recovery of the housing sector. Recent data releases relating to home sales activity and new construction Assessing the Size and Spread of Vulnerable Renter Households in Boston Fed's Christopher Foote and Paul Willen. point to a housing market that continues to grow at a slow but steady pace. Single-family starts are increasing but remain low by historical norms. According the Southeast What's Being Done to Help Renters In December 2020, content from Real Estate Research became part of to the U.S. Census Bureau, the 12-month moving average of multifamily starts has peaked after increasing steadily over the last several years. The data during the Pandemic? An Update on Forbearance Trends Policy Hub. Future articles will be released in Policy Hub: Macroblog. releases since the initial fourth-quarter GDPNow nowcast on October 30 have, on net, brightened the outlook for residential investment. Examining the Effects of COVID-19 on the Southeast Housing Market Disclaimer These numbers tell us where we are but not what lies ahead. Southeast Housing Market and COVID-19 To supplement official data releases, the Atlanta Fed collects anecdotal Update on Lot Availability and Construction Lending information from market participants. This information helps us detect shifts in trends and concerns that may influence the future direction of housing. Results Tax Reform's Effect on Low-Income Housing from our recent industry forums and surveys indicate that (1) we should expect more of the same slow, steady growth, and (2) there are downside risks to the Housing Headwinds Did Harvey Influence the Housing outlook. Market? Is the Share of Real Estate Sales to On December 1, in conjunction with the Georgia State University Department of Real Estate , the Atlanta Fed held a Real Estate Industry Forum to discuss Investors Increasing? CATEGORIES current trends and challenges facing the real estate industry. The good news from the panel of chief economists was that demographics—especially with Affordable housing goals millennials entering the age of household formation and house purchasing—and other underlying fundamentals, such as employment growth and tight inventory, Credit conditions Expansion of mortgage credit continue to support an optimistic outlook for housing demand. The supply of housing is where most of the concerns sit. Federal Housing Authority Financial crisis The industry forum panelists noted that some geographies face supply Foreclosure contagion Foreclosure laws constraints that will hinder the delivery of housing sufficient to match increased fundamental demand. Such observations are consistent with responses we Governmentsponsored enterprises GSE received in our November 2017 Construction and Real Estate Survey. In the poll, most builders reported labor cost increases from the year-ago level; nearly two- Homebuyer tax credit Homeownership thirds of respondents said labor costs had increased more than 3 percent. All builders said material costs had increased over the same period. Many House price indexes Household formations continued to note that the amount of available credit for construction and development remained insufficient to meet demand. Builders said they expect Housing boom Housing crisis construction activity over the next three months to be flat to down. Housing demand Housing prices When asked if they would be able to meet a sudden spike in demand for homes, Southeast builders' responses were split: 46 percent said they would not be able Income segregation Individual Development Account to handle the spike in the demand, while 38 percent said they would. Most builders indicated they faced challenges with hiring and that it was affecting their Loan modifications Monetary policy ability to grow their businesses. Of those experiencing difficulty hiring, more than half attributed it to the homebuilding industry—that is, too much demand for Mortgage crisis Mortgage default construction laborers or too few workers. One-fifth attributed the labor shortage to workers lacking the necessary skills set. The responses to open-ended, Mortgage interest tax deduction Mortgage supply follow-up questions reiterated these findings; respondents cited lack of skills and poor work ethic as the top challenges to finding quality workers. Multifamily housing Negative equity One interpretation of builders' inability to grow their business or respond to a Positive demand shock Positive externalities spike in demand is that the market is near equilibrium. That is, production is at a point such that increasing the scale of operations is not profitable, and scaling Rental homes Securitization back production does not improve profitability either. Improving the supply of labor can be done, but will take time in terms of training and skill acquisition. The Subprime MBS Subprime mortgages timing and extent to which the access to financing can be improved is less known. While underlying fundamentals support an optimistic outlook for the Supply elasticity Uncategorized housing sector, supply chain constraints imply only measured near-term residential investment growth. Upward mobility Urban growth RECENT POSTS Email Me Subscribe by E-mail Subscribe by RSS Other Fed Websites Comment Standards: Comments are moderated and will not appear until the moderator has approved them. Please submit appropriate comments. Inappropriate comments include content that is abusive, harassing, or threatening; obscene, vulgar, or profane; an attack of a personal nature; or overtly political. In addition, no off-topic remarks or spam is permitted. By Jessica Dill, economic policy analyst in the Research Department and Carl Hudson, director of the Center for Real Estate Analytics January 3, 2018 in Housing demand | Permalink Frequently Asked Questions GDPNow Careers Contact Us Inflation Project Jobs Calculator Market Probability Tracker A to Z index Follow the Fed Publications Speakers Bureau Teacher Workshops Wage Growth Tracker Disclaimer & Terms of Use Online Privacy Policy Data Privacy Policy 1000 Peachtree Street N.E. Atlanta, Georgia 30309 404-498-8500 Home Careers
@FedFRASER