2024 Mid-year Review: Economy and Housing in the Sweet Spot
Throughout the first half of the year, we’ve diligently monitored current trends spanning the economy, for-sale and for-rent housing, building products, and design.
Now, let’s revisit the top 10 stories that have performed exceptionally well thus far:
According to John Burns,
- The Top 50 Master Plans Sold Over 34,000 New Homes in 2023: New home sales for the top 50 MPCs last year marked a 24% increase from 2022, with builders offering rate buydowns and flex cash to attract buyers.
- How to Ride the Apartment Supply Wave: New apartment construction in the US is booming with nearly 1 million units under construction at the start of 2024, leading to increased concessions like free rent.
- 3 Migration Shifts Shaping Housing Markets in 2024: Changes in demographic trends and local housing markets are having real-time impacts on domestic migration.
- Banking on the Future: Builders and Land Bankers Grow Together. In a win-win relationship, homebuilders increasingly rely on land bankers to secure future land supplies without tying up significant capital, while land bankers reduce their risk.
- Is the Price Right? How to Find Your Build-to-Rent Community’s Rent Premium: From build-to-rent to garden-style apartments, there’s no one-size-fits-all formula for setting rent premiums.
- Immigration Fuels Largest 1-Year Population Increase in US History: The recent surge in immigration is propping up housing and the job market.
- Where Are We in the Housing Cycle? While most markets have improved from one year ago, the answer to “Where are we in the housing cycle?” varies from market to market.
- Charting a 22-Year Roller Coaster of Investor Activity: 22 years and 7 major shifts summarize today’s investor activity and real estate impact.
- Building Products Demand Forecast: A Tale of Two Markets. We expect building materials spending to rise in 2024, driven by strong demand from the single-family construction market, while the multifamily sector faces a steep decline.
- Homebuilder M&A Explodes in 2024: Strong balance sheets and favorable market fundamentals have sparked a blaze of homebuilder M&A transactions in 2024.
