US New Home Construction Update: Housing Starts Down 17% YTD

Housing inventory of existing houses in the US is at very low levels so are homebuilders ramping up construction to fill that void? In today’s video, I share a report from the US Census Bureau regarding the construction of new single family houses as well as multi-family properties such as apartment buildings. They reported a record number of units under construction for buildings with 5+ units (data that goes back to the 1970’s). The vast majority of these are apartment buildings. In contrast, the number of single-family homes under construction has been falling every month since June 2022 but still remains at very high levels.

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Compilation of Housing Market Forecast videos:

Source of the report I went over in the video:
https://www.census.gov/construction/nrc/index.html

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.3% for the current mortgage rates (at the time of filming this video for those with excellent credit).

Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?

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Jason Walter, CPA (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent with Realty ONE Group Complete in California under DRE 01923240.

#newhomes #housingmarket #homebuilder