New data from the U.S. Census Bureau shows that privately-owned housing starts in July sat at an annual rate of 1.446 million, a 9.6% month-over-month decrease and a drop of 8.1% year-over-year. This data highlights the ongoing struggle builders are having with material shortages and high interest rates. According to Logan Mohtashami of Housing Wire, this data shows that: Homebuilders are going to be …
Consumer and Rent Trends
Two important renter and homeowner trend reports were released this month, beginning first with Zillow’s Consumer Housing Trends Report 2022. Here are the highlights for real estate investors: The median age of U.S. sellers is 46. The largest share of sellers live in the South (39%), followed by the Midwest (23%) and West (22%). The annual median …