The housing supply is starting to more closely match demand.
Writing in The Washington Post, Conor Sen describes the current U.S. housing market and what its state means for homebuyers and sellers.
“A lack of supply has stabilized a market where affordability remains challenging. Homeowners with low mortgage rates have chosen not to sell, putting builders of new houses in a stronger position than they had anticipated last autumn when interest rates were surging and the market slowed.”
Accordingly, “Single-family housing starts have risen. Healing supply chains have shortened the time to build homes, meaning the ramp up in construction that’s underway should put more completed homes on the market by the first half of 2024.”
In the multifamily market, a record number of units are under construction. “While the for-sale and for-rent markets aren’t completely fungible, more rental units will give homeowners looking to downsize options.”
Sen concludes that “It’s going to take years to build enough to bring the housing market back into balance, but for the first time in a while there are reasons to think we’re moving in the right direction.”
FULL STORY: The US Housing Drought Is Ending. What Does It Mean for Prices?
Report: How Billionaire Buyers Are Making the Housing Crisis Worse
The financialization of the housing sector is driving up costs for ordinary families and keeping available units off the market.
How ‘Filtering’ Opens Up Affordable Housing
An analysis of 12 U.S. cities found that new market-rate construction often leads to more affordable units becoming available, but the effect varies across housing markets.
U.S. Home Sales to Foreign Buyers Drop by Almost 10 Percent
International purchases of homes on the U.S. housing market slowed in the last year.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25% resulting in 1,900 jobs lost.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Waymo Gets Permission to Map SF’s Market Street
If allowed to operate on the traffic-restricted street, Waymo’s autonomous taxis would have a leg up over ride-hailing competitors — and counter the city’s efforts to grow bike and pedestrian on the thoroughfare.
Parklet Symposium Highlights the Success of Shared Spaces
Parklets got a boost during the Covid-19 pandemic, when the concept was translated to outdoor dining programs that offered restaurants a lifeline during the shutdown.
Federal Homelessness Agency Places Entire Staff on Leave
The U.S. Interagency Council on Homelessness is the only federal agency dedicated to preventing and ending homelessness.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
Smith Gee Studio
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service