November Foundations Newsletter

The Future of Homebuilding: Domestic Migration Is Driving the Housing Market

Immigration and domestic migration are reshaping the U.S. housing market as more residents move to affordable regions, and around 6 million people moved to the US in 2022–23, adding 700,000 new households.

Understanding these trends is essential for homebuyers to find modern, affordable housing in emerging neighborhoods. Cities such as Oklahoma City, Nashville, and Miami are seeing significant increases in new construction, offering new homes at lower prices.

Domestic migration will remain a key factor in housing demand moving forward, even as immigration slows in 2025. Builders are focusing on high-demand areas with job growth and lower living costs, resulting in more new homes and better opportunities for buyers.

To learn more about the future of homebuilding, read the full article.

October 2024 New Residential Construction: Continued Slowdown

Residential construction activity declined in October, with key indicators reflecting this trend. Permits for new housing units fell by 0.6% from September, while housing starts dropped by 3.1% month-over-month. The most significant decrease was observed in the multifamily sector, where permits decreased by 20.9% and starts declined by 12.6% year-over-year.

Although single-family construction remained more stable, it still experienced slight declines, with both permits and starts down modestly. This slowdown is primarily attributed to rising mortgage rates, which have reduced buyer demand and created a challenging environment for builders. Nevertheless, completions remained relatively strong, especially in the single-family segment, which continues to be a focus for builders in light of softer rental markets.

For more details on regional trends in new residential construction, read the full article.

Top 10 Cities With the Most New-Construction Homes—and They’re Affordable, Too

The real estate landscape is shifting as new construction homes are becoming increasingly affordable, with median prices now closely aligned with those of existing homes. Specifically, the median price for new homes is around $420,600, while existing homes stand at approximately $416,700.?

Most of this new construction is occurring in suburban and rural areas, where land is more budget-friendly. States in the South, including North and South Carolina, Texas, Tennessee, and Georgia, are particularly active in this regard. The Sun Belt region, in particular, is witnessing significant population growth. Projections indicate an addition of 19 million new residents over the next decade, which has spurred a high demand for new housing.?

To dive deeper into the new construction landscape, click here.

How to Build a Better Online Reputation: A Guide for Success

In today’s digital-first world, your online reputation is often the first impression potential clients will have of your business. For home builders, this can be the deciding factor in securing new projects. This article shows the importance of crafting a robust online presence, offering valuable insights on how builders can establish, maintain, and grow their reputations in an increasingly competitive market. With the majority of consumers relying on online reviews before making purchasing decisions, the article emphasizes how crucial it is for builders to build trust, showcase their expertise, and engage with potential clients through various digital platforms.

You can find a complete guide to success by reading the full article.

Empowering Women and Inspiring Greatness in Homebuilding

On December 12th, catch Realtor.com New Construction team members Amy Martin and Marisa Kennerson in a conversation with Amy O'Connor ,?VP of Training Operations at Jeff Shore Consulting and Founder of the Women's Leadership Circle.?

They talked about the role of women in the home building industry, the project of "The House That She Built", the concept of “Be brave, don’t settle,” what’s happening in today’s market, and buyer’s urgency, one of the most frequently asked questions asked to her.?

Sign up to receive the full episode directly to your inbox on December 12th.

Marisa Kennerson's Women's Leadership Circle Anniversary

Women's Leadership Circle is the leadership development program for women in homebuilding. This group brings dynamic women together and provides a council of motivated, like-minded leaders who empower, evaluate, evolve, and elevate women's careers to new heights.

Marisa Kennerson , Realtor.com National Account Director, is celebrating her first anniversary in the program and wanted to share her learnings in a short but powerful message:

One year with women leaders in the home building industry: 16 women, for 12 months, in 5 cities, and monthly calls that helped each of us grow in our careers and in our personal lives. I've learned more about myself?this past year than almost any other year in my life. Our shared dedication to our careers and living fulfilled lives created a powerful environment I could not have found on my own.?

For more information about this program, visit?Women's Leadership Circle.

Market Updates (Downloadable)

Would you like to stay informed about what’s happening in the country, state, city, or even a specific zip code? Our Economic Team will keep you updated with the latest real estate data. Simply download the information you’re interested in and make informed business decisions based on it.

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