Home Building Industry Faces Glut of Inventory Bloomberg is reporting that the supply of new homes on the market has climbed to its highest level since 2010. They point out that for years the housing market has been plagued by too little inventory, now builders are suddenly finding themselves with a glut of unsold homes.
Construction Delays in the Apartment Industry Ongoing as Costs Rise The National Multifamily Housing Council says 97% of apartment developers report experiencing construction delays. Breaking that down, they say that of those experiencing overall delays, 83% reported delays in permitting and 93% reported delays in starts. In addition, they found that 87.5% of developers avoid
Construction Industry Adds 60k Jobs In February According to recent data from the Associated General Contractors of America, construction employment increased by 60k jobs between January and February, 2022, marking the steepest pace in nearly 40 years. AGC officials said the industry will need to hire hundreds of thousands of additional workers in each of
Single-Family Rental Industry Ended 2021 on a High Note For Landlords The venerable John Burns Real Estate Consulting recently shared their thoughts on what 2022 will bring to the rental and housing industry. They predict that new lease effective rents will continue to rise, with several popular in-migration markets producing double-digit rent growth over the
Is Artificial Intelligence Taking Over the Real Estate Industry? CNBC’s Diana Olick says artificial intelligence might be taking over the real estate industry . She discusses the overall impact artificial intelligence (AI) is having on real estate with companies like Zillow now using machine-learning in their Zestimates. “In the case of the Zestimate algorithm, the
Costliest Disasters to the Insurance Industry Here in America, we still have about another month of Hurricane season – let’s hope it’s quiet. However, with that in mind, the folks over at Statista recently put together a graphic illustrating the 10 costliest disasters to the insurance industry (1970-2020). Not surprising, they’re mostly hurricanes… Stay safe