An earlier post revealed that 66% of buyers who were actively engaged in the process of finding a home in the third quarter of 2021 have spent 3+ months searching for a home without success. For only the third time in this series history, the top reason these long-time searchers haven’t pulled the trigger is not because they can’t find… Read More ›
The Federal Reserve has supported the housing market during the virus crisis, the 2020 recession, and the subsequent, ongoing recovery via asset-backed purchases (among other tools), including $40 billion a month of mortgage-backed security (MBS) purchases. These MBS purchases have held interest rates lower than they otherwise would have been. Beginning in November, the Fed will reduce the monthly volume of… Read More ›
After growing steadily for six straight quarters, and peaking at 61% in the second quarter of 2021, the share of prospective buyers actively trying to find a home to buy declined to 57% in the third quarter. This is an indication that fast-growing home prices have begun to discourage a segment of potential buyers from getting past the planning stage…. Read More ›
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate was flat at 65.4% in the third quarter of 2021. Compared to prior reports, the data was affected less significantly by the pandemic, since in-person interviews were back in 99.5% of the sample. The national homeowner vacancy rate stayed at a record low of 0.9%, while the rental… Read More ›
With the help of Villavaso and Associates, the City of Zachary Council has reviewed the Unified Development Code through four working groups. The latest updates were approved by by the council on October 26, 2021, and can be found here.
Areas of interests for development:
- Sec. 3.502 A. 2. Subdivisions with 60 or more lots, regardless of phasing shall be designed for at least (2) connections to existing or planned streets. (B.) Subdivision Access *New Text*
- Sec. 3.503 A. Right-of-Way Width – Local Street (Residential) now 60 ft.
- Division 4.400 Open Spaces – Minimum Open Space Required (new section)
Please contact melissa@hbagbr.org with any questions.
NAHB analysis of Census Construction Spending data shows that total private residential construction spending decreased 0.4% in September to a seasonally adjusted annual rate of $773.5 billion. Total private residential construction spending was 19.3% higher than a year ago. Spending on single-family, multifamily constructions and improvements all declined in September, as homebuilding is still facing the supply chain issues, the… Read More ›
