January 2025 - Page 3 of 4 - Hillwood Loves Realtor

Cost of Constructing a Home in 2024

Eric Lynch2025-01-23T08:17:42-06:00

Construction costs account for 64.4% of the average price of a home, according to NAHB’s most recent Cost of Construction Survey. In 2022, the share was 3.6 points lower, at 60.8%. The latest finding marks a record high for construction costs since the inception of the series in 1998 and the fifth instance where construction costs represented over 60% of the total sales price. The finished lot was the second largest cost at 13.7% of the sales price, down more than four percentage points from 17.8% in 2022. The share of finished lot to the total sales price has fallen consecutively in the last three surveys, reaching a series low in 2024. The average builder profit margin was 11.0% in 2024, up less than a percentage point from 10.1% in 2022. At 5.7% in 2024, overhead and general expenses rose when compared to 2022 (5.1%). The remainder of the average home sale price consisted of sales commission (2.8%), financing costs (1.5%), and marketing costs (0.8%). Marketing costs were essentially unchanged while sales commission and financing costs decreased compared to their 2022 breakdowns. Construction costs were broken down into eight major stages of construction. Interior finishes, at 24.1%, accounted for the largest share of construction costs, followed by major system rough-ins (19.2%), framing (16.6%), exterior finishes (13.4%), foundations (10.5%), site work (7.6%), final steps (6.5%), and other costs (2.1%). Explore the interactive dashboard below to view the costs and percentage of construction costs for the eight stages and their 36 components. Table 1 shows the same results as the dashboard above in table format. Please click here to be redirected to the full report (which includes historical results back to 1998). Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Cost of Constructing a Home in 2024Eric Lynch2025-01-23T08:17:42-06:00

U.S. Metro Areas in 2023: Real GDP, Construction, and Real Estate Insights

Catherine Koh2025-01-22T12:14:42-06:00

Real GDP of metropolitan areas rose 2.7% in 2023, with the “real estate, rental and leasing” sector contributing 0.34 percentage points and construction contracting growth by 0.11 percentage points. While many metro areas followed the national growth trend, each region has its unique economic narrative. This article explores the economic trends driving these outcomes, focusing on the leading metro areas in real GDP growth, the construction sector’s standout performers over a five-year period, and the top MSAs benefiting from growth in real estate, rental, and leasing. In 2023, real GDP increased in 348 Metropolitan Statistical Areas (MSAs), decreased in 34 MSAs, and remained unchanged in 3 MSAs, according to the U.S. Bureau of Economic Analysis (BEA). The data, which was recently released in December 2024, shows the range of growth spanned from 42.9% in Midland, TX, to a contraction of -9.3% in Elkhart-Goshen, IN. Three MSAs—Ithaca, NY, Joplin, MO, and Longview, WA—saw no change in real GDP. The oil and gas sector played a significant role in driving growth in many MSAs. Midland, TX, recorded the highest growth due to a surge in oil production, with the “mining, quarrying, and oil and gas extraction” industry contributing a hefty 41.2 percentage points to the metro area’s GDP growth. Furthermore, among the top five highest growth areas, four had this industry as the leading contributor. Top Five MSAs by Real GDP Growth and Leading Contributing Industry Metro Area2023 Real GDP Growth (%)Largest Contributing IndustryContribution (Percentage Points)Midland, TX42.9Mining, quarrying, and oil and gas extraction41.2Greeley, CO18.5Mining, quarrying, and oil and gas extraction15.5El Centro, CA16.4Agriculture, forestry, fishing, and hunting14.4Odessa, TX11.6Mining, quarrying, and oil and gas extraction7.1Wheeling, WV-OH10.7Mining, quarrying, and oil and gas extraction9.9 Construction Sector Growth (2018–2023) From 2018 to 2023, the construction industry exhibited a mixed performance, with 140 MSAs reporting positive compound annual growth rates (CAGR), 188 recording declines, and 5 showing no change. States like Idaho, Arizona, and Florida emerged as hotspots for construction growth during this period while states in the East North Central division appear to have slowdowns in this sector. Elizabethtown-Fort Knox, KY, led with a 14.4% CAGR in construction. This boom was primarily driven by the development of the BlueOval SK Battery Park, slated to begin production in 2025. This joint venture between Ford Motor Company and SK On, a South Korean electric vehicle (EV) supplier, is expected to be the largest EV battery manufacturing facility globally. According to a study by the Hardin County Chamber of Commerce (HCCC), the project is estimated to: Generate $1.6 billion in construction payroll. Create 5,000 jobs by the end of 2025. Require 3,100 additional housing units to accommodate new workers. Top Five MSAs for Construction Growth (2018–2023): Metro AreaCAGR (%)Average Contribution (Percentage Points)Elizabethtown-Fort Knox, KY14.40.45Clarksville, TN-KY10.80.03Punta Gorda, FL10.61.12Jacksonville, NC10.20.32The Villages, FL10.11.23 Real Estate, Rental, and Leasing Growth (2018–2023) The real estate, rental, and leasing sector also showed robust growth in many regions, with 209 MSAs experiencing positive growth during the five-year period. The Villages, FL, recorded the highest CAGR at 14.1%, reflecting its status as the nation’s largest community designed for an aging population. Other MSAs like Jonesboro, AR, saw significant real estate growth due to proximity to Arkansas State University, while Austin-Round Rock-Georgetown, TX, benefited from a population influx because of its thriving tech economy. Top Five MSAs for Real Estate Growth (2018–2023): Metro AreaCAGR (%)Average Contribution (Percentage Points)The Villages, FL14.13.6Jonesboro, AR12.11.2Twin Falls, ID10.81.1Austin-Round Rock-Georgetown, TX10.71.4El Centro, CA10.60.6 Visit NAHB’s dashboard for additional data and visualizations on demographics, housing market and the economy for all metro areas. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

U.S. Metro Areas in 2023: Real GDP, Construction, and Real Estate InsightsCatherine Koh2025-01-22T12:14:42-06:00

Demographic Analysis of Labor Force Participation Rate

Jing Fu2025-01-21T10:16:35-06:00

A key indicator of the labor market is the labor force participation rate. This rate is the percentage of working-age adults in a population who are working or looking for work. The rate is a critical measure connected to both housing demand and housing supply (via the construction labor force). According to the Employment Situation Summary reported by the Bureau of Labor Statistics (BLS), the labor force participation rate remained at 62.5% for the third month in December 2024. After the labor force participation rate reached 67.3% at the beginning of 2000, it has been trending lower. When COVID-19 hit the labor market, the labor force participation rate dropped dramatically from 63.3% in February 2020 to 60.1% in April 2020. The latest labor force participation rate remains below its pre-pandemic levels of 63.3% at the beginning of 2020. The participation rate is directly connected to the supply of labor. Labor supply varies across different demographic groups, such as age, gender, race, and educational attainment. Gender Over time, labor force participation changed dramatically by gender due to evolving societal norms around gender roles. Historically, women experienced a significant increase in labor force participation while men’s participation rates declined. However, over the past 20 years both genders’ labor force participation rates have moved in parallel and been trending downwards. Women’s labor force participation rate is 2.9 percentage points below the peak level in 2000 of 60.3%, while men’s labor force participation rate is 7.4 percentage points lower than the level in 2000 of 75.3%. According to the latest data from the Current Population Survey (CPS), women currently make up roughly half of the U.S. labor force, representing about 47% of the labor force market. By industry, women accounted for more than half of all workers within several sectors in 2023, such as education and health services (74.4%), other services (53.3%), financial activities (51.1%), and leisure and hospitality (50.8%). Comparably, women were substantially underrepresented (relative to their share of total employment) in manufacturing (29.5%), agriculture (29.3%), transportation and utilities (24.3%), mining (15.3%), and construction (10.8%). Men tend to have a higher labor force participation rate than women historically, even though this gap has narrowed from 54.7 percentage points in January 1948 to a difference of 10.5 percentage points in December 2024. Age The labor force participation rate differs across age groups as well. People ages 65 and older had the lowest labor force participation rate of 19.2%, followed by the youngest age group (16-19 years old) with a participation rate of 36.9%. Among all age groups, workers aged 25-54, also known as prime-age workers, have the highest labor force participation rate of 83% in 2023. They form the core of the U.S. labor force, accounting for nearly two-thirds (63.8%) of the total labor force. Prime-age workers’ labor force participation rate has fully recovered from the COVID-19 pandemic, surpassing the prior peak of February 2020. The high labor force participation among prime-age men and the rapid increase in prime-age women’s labor force participation contributed to the increase in the labor force over time. By December 2024, prime-age women’s participation rate had hovered near its highest level of 78.1% on record, and 89.0% of prime-age men stayed in the labor force market. Race and Ethnicity Labor force participation varies among the largest race and ethnic groups living in the United States, and each group’s labor participation differs according to their gender as well. Men had a higher labor force participation rate than women in each racial and ethnic group. Among men ages 16 years and over, Hispanic men were the most likely to be in the labor force, with a participation rate of 75.1%, followed by Asian men (76.8%), White men (68.2%), and Black men (65.6%). Among women ages 16 and over, Black women (61.0%) were most likely to participate in the labor force, followed by Hispanic women (58.7%), Asian women (58.1%), and White women (56.5%). Educational Attainment Higher levels of educational attainment are generally associated with higher labor force participation rates and lower unemployment rates. It is true for both men and women, and the four selected racial and ethnic groups that people with higher educational attainment tend to have greater employment opportunities and potentially later retirement ages. With the same level of educational attainment, men are more likely to work than women. Among men with less than a high school diploma, the labor force participation rate was 59.4%, compared to a 34.3% participation rate for women with the same level of educational attainment. The gap of the labor force participation rate between men and women narrows as people achieve higher educational attainment. Women with the highest broad level of education (a bachelor’s degree or higher) have a 69.6% participation rate, a 7.3 percentage point difference from men with the same level of education (76.9%). Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Demographic Analysis of Labor Force Participation RateJing Fu2025-01-21T10:16:35-06:00

Moving Out of Parental Homes is On Hold

Natalia Siniavskaia2025-01-20T08:18:45-06:00

The worst on record rental affordability conditions, depleted “excess” savings of the pandemic era, and high mortgage rates halted the post-pandemic trend of young adults moving out of parental homes. The share of adults ages 25-34 living with parents or parents-in-law hovered just above 19% in 2023, stagnant from 2022, according to NAHB’s analysis of the 2023 American Community Survey (ACS) Public Use Microdata Sample (PUMS). While this percentage is the second lowest since 2011, the share remains elevated by historical standards. Regionally, Southern and Northeastern states register some of the highest shares of young adults remaining in parental homes. Traditionally, young adults ages 25 to 34 make up around half of all first-time homebuyers. Consequently, the number and share of young adults in this age group that choose to stay with their parents, or parents-in-law, has profound implications for household formation, housing demand, and the housing market. The current share of 19.2% translates into 8.5 million young adults living in homes of their parents or parents-in-law. In contrast, less than 12% of young adults ages 25 to 34, or 4.6 million, lived with parents in 2000. The share peaked in 2017-2018 at 22% when the ACS recorded over 9.7 million adults ages 25 to 34 living with parents. While the national average share hovers around 19.2%, more than a quarter of young adults ages 25-34 remain in parental homes in California (26.5%), New Jersey (26.3%), and Hawaii (25.2%). Delaware (23.2%), Maryland (22.7%), Florida (22.4%) and New York (21.8%) are next on the list. At the opposite end of the spectrum are states with less than one in ten young adults living with parents. The fast-growing North Dakota records the nation’s lowest share of 5%, while the neighboring South Dakota registers 7%. In the District of Columbia, known for its relatively stable job market, less than 7.5% of young adults live with their parents. The cluster of central US states completes the nation’s list with the lowest percentages of young adults remaining in parental homes – Nebraska (8.4%), Iowa (8.5), and Wyoming (9.6%). The elevated shares of young adults living with parents in high-cost coastal areas point to prohibitively expensive housing costs as one of the reasons for keeping young adults in parental homes. The statistical analysis confirms that states with higher shares of cost-burdened owners and renters living in unaffordable homes (i.e., paying 30 percent or more of income on housing) register higher shares of young adults living with parents. In particular, renters’ housing cost burdensexplain half of the cross-state variation in the shares of young adults living in parental homes. Multigeneration living, which is more prevalent among ethnic households, can also contribute to the elevated shares of young adults living with parents. This can be particularly relevant in the Southern states with higher shares of Hispanic households. However, the statistical analysis shows that while the correlation is positive, prevalence of Hispanic households does not carry any additional explanatory power once housing cost burdens are accounted for. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Moving Out of Parental Homes is On HoldNatalia Siniavskaia2025-01-20T08:18:45-06:00

Remodeling Market Sentiment Improves in Fourth Quarter of 2024

Eric Lynch2025-01-16T13:14:44-06:00

The NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 68 for the fourth quarter of 2024, up five points compared to the previous quarter. Remodelers are more optimistic about the market than they were earlier in the year, corroborated by NAHB’s recent analysis of home improvement loan applications. Demand in many parts of the country was stronger than usual for the fall season, especially demand for larger projects, with leads coming in after the uncertainty about the November elections was removed. Not only did the current conditions index for $50,000-plus projects show the greatest increase during the quarter, but the share of remodelers doing whole house remodeling reached a record high of 62%. The RMI is based on a survey that asks remodelers to rate various aspects of the residential remodeling market “good”, “fair” or “poor.” Responses from each question are converted to an index that lies on a scale from 0 to 100. An index number above 50 indicates a higher proportion of respondents view conditions as good rather than poor. Current Conditions The Remodeling Market Index (RMI) is an average of two major component indices: the Current Conditions Index and the Future Indicators Index. The Current Conditions Index is an average of three subcomponents: the current market for large remodeling projects ($50,000 or more), moderately sized projects ($20,000 to $49,999), and small projects (under $20,000). In the fourth quarter of 2024, the Current Conditions Index averaged 75, increasing three points from the previous quarter. All three components remained well above 50 in positive territory: large remodeling projects rose eight points to 75, moderate remodeling projects increased two points to 73, and small remodeling projects inched down one point to 76. Future Indicators The Future Indicators Index is an average of two subcomponents: the current rate at which leads and inquiries are coming in and the current backlog of remodeling projects. In the fourth quarter of 2024, the Future Indicators Index was 61, up six points from the previous quarter. The component measuring the current rate at which leads and inquiries are coming jumped nine points to 62. Meanwhile, the component measuring in the backlog of remodeling jobs rose two points to 59 quarter-over-quarter. For the full set of RMI tables, including regional indices and a complete history for each RMI component, please visit NAHB’s RMI web page. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Remodeling Market Sentiment Improves in Fourth Quarter of 2024Eric Lynch2025-01-16T13:14:44-06:00

Single-Family Permits Up in November 2024

Danushka Nanayakkara-Skillington2025-01-15T09:23:24-06:00

Over the first eleven months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 912,910. On a year-over-year (YoY) basis, this is an increase of 8.2% over the November 2023 level of 843,654. Year-to-date ending in November, single-family permits were up in all four regions. The range of permit increases spanned 11.5% in the Midwest to 6.3% in the South. The West was up by 11.4% and the Northeast was up by 9.4% in single-family permits during this time. For multifamily permits, three out of the four regions posted declines. The Northeast, driven by New York City’s MSA, was the only region to post an increase and was up by 32.6%. Meanwhile, the West posted a decline of 29.7%, the South declined by 19.6%, and the Midwest declined by 3.1%. Between November 2024 YTD and November 2023 YTD, 44 states posted an increase in single-family permits. The range of increases spanned 31.4% in Montana to 2.6% in Missouri. The remining six states and the District of Columbia reported declines in single-family permits. The ten states issuing the highest number of single-family permits combined accounted for 62.9% of the total single-family permits issued. Texas, the state with the highest number of single-family permits, issued 146,843 permits over the first eleven months of 2024, which is an increase of 8.8% compared to the same period last year. The second highest state, Florida, was down by 0.3%, while the third highest, North Carolina, posted an increase of 7.0%. Year-to-date ending in November, the total number of multifamily permits issued nationwide reached 445,357. This is 14.5% below the November 2023 level of 520,919. Between November 2024 YTD and November 2023 YTD, 21 states recorded growth in multifamily permits, while 29 states and the District of Columbia recorded a decline. New York (+113.8%) led the way with a sharp rise in multifamily permits from 14,544 to 31,098, while Idaho had the biggest decline of 54.3% from 5,469 to 2,497. The ten states issuing the highest number of multifamily permits combined accounted for 62.3% of the multifamily permits issued. Over the first eleven months of 2024, Texas, the state with the highest number of multifamily permits issued, experienced a decline of 21.3%. Following closely, the second-highest state in multifamily permits, Florida, saw a decline of 25.0%. California, the third largest multifamily issuing state, decreased by 32.0%. At the local level, below are the top ten metro areas that issued the highest number of single-family permits. For multifamily permits, below are the top ten local areas that issued the highest number of permits. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Single-Family Permits Up in November 2024 Danushka Nanayakkara-Skillington2025-01-15T09:23:24-06:00

Residential Construction Inputs Price Growth Slows in 2024

Jesse Wade2025-01-14T11:19:38-06:00

Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were unchanged in December according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. This index grew 0.8% over 2024, the lowest yearly increase in the index since its inception in 2014. The inputs to the new residential construction price index can be broken into two components—one for goods and another for services. The goods component increased 1.7% over the year, while services decreased 0.4%. For comparison, the total final demand index increased 3.3% in 2024, with final demand with respect to goods up 1.8% and final demand for services up 4.0% over the year. Input Goods The goods component has a larger importance to the total residential construction inputs price index, representing around 60%. The price of input goods to new residential construction was down 0.1% in December from November. The input goods to residential construction index can be further broken down into two separate components, one measuring energy inputs with the other measuring goods less energy inputs. The latter of these two components simply represents building materials used in residential construction, which makes up around 93% of the goods index. The price of goods used in residential construction grew 1.7% in 2024, slightly higher than the growth in 2023 of 1.0%. This growth can be attributed to the rise in the prices of building materials, which grew 2.2% in 2024. The price of energy inputs fell for the second straight year, down 5.3% in 2024. At the individual commodity level, the five commodities with the highest importance for building materials to the new residential construction index were as follows: ready-mix concrete, general millwork, paving mixtures/blocks, sheet metal products, and wood office furniture/store fixtures. Across these commodities, there was price growth for most commodities in 2024 except for sheet metal products. Ready-mix concrete was up 5.1%, wood office furniture/store fixtures up 4.3%, general millwork up 2.5%, paving mixtures/blocks up 2.3% while sheet metal products were down 0.2%. The commodity used in new residential construction the featured the highest price growth in 2024 was softwood lumber, not edge worked, which increased 14.7% in 2024. The commodity where prices declined the most was No. 2 diesel fuel, down 13.9%. Input Services Prices of inputs to residential construction for services were up 0.5% in December from November. The price index for service inputs to residential construction can be broken out into three separate components: a trade services component, a transportation and warehousing services component, and a services excluding trade, transportation and warehousing component. The most significant component is trade services (around 60%), followed by services less trade, transportation and warehousing (around 29%), and finally transportation and warehousing services (around 11%). The largest component, trade services, was down 1.8% in 2024 after growing 5.8% in 2023. Across individual services, credit deposit services advanced the most in 2024, up 21.2% over the year while the prices for metal, mineral and ore wholesaling services fell the most, down 19.2%. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Residential Construction Inputs Price Growth Slows in 2024Jesse Wade2025-01-14T11:19:38-06:00

How Fair Housing Applies to You

Texas REALTORS Staff2025-01-14T01:21:26-06:00

Buyers, sellers, and real estate professionals all have rights and responsibilities when it comes to discrimination-free property transactions. The federal Fair Housing Act prohibits discrimination in housing and housing-related transactions based on race, color, sex (including sexual orientation and gender identity), national origin, religion, disability, or familial status. Learn more about how fair housing affects you in your transactions with this consumer guide from the National Association of REALTORS®.

How Fair Housing Applies to YouTexas REALTORS Staff2025-01-14T01:21:26-06:00

Solid Job Market in December

Jing Fu2025-01-13T10:19:38-06:00

The U.S. labor market finished 2024 with solid job growth and a decrease in the unemployment rate. In December, wage growth slowed. Wages grew at a 3.9% year-over-year (YOY) growth rate, down 0.3 percentage points from a year ago. Wage growth is outpacing inflation, which typically occurs as productivity increases. National Employment According to the Employment Situation Summary reported by the Bureau of Labor Statistics (BLS), total nonfarm payroll employment rose by 256,000 in December. Since January 2021, the U.S. job market has added jobs for 48 consecutive months, making it the third-longest period of employment expansion on record. The estimates for the previous two months were revised. The monthly change in total nonfarm payroll employment for October was revised up by 7,000, from +36,000 to +43,000, while the change for November was revised down by 15,000 from +227,000 to +212,000. Combined, the revisions were 8,000 lower than previously reported. In 2024, more than 2.3 million jobs were created. Additionally, monthly employment growth averaged 186,000 per month, compared to the 251,000 monthly average gain for 2023. The U.S. economy has created nearly 8.7 million jobs since March 2022, when the Fed enacted the first interest rate hike of this cycle. The unemployment rate decreased to 4.1% in December. While the number of employed persons increased by 478,000, the number of unemployed persons decreased by 235,000. Meanwhile, the labor force participation rate—the proportion of the population either looking for a job or already holding a job—remained unchanged at 62.5%. For people aged between 25 and 54, the participation rate decreased one percentage point to 83.4%. While the overall labor force participation rate remains below its pre-pandemic levels of 63.3% at the beginning of 2020, the rate for people aged between 25 and 54 exceeds the pre-pandemic level of 83.1%. In December, employment continued to trend up in health care (+46,000), government (+33,000), and social assistance (+23,000). Retail trade added 43,000 jobs, following a job loss in November. Construction Employment Employment in the overall construction sector increased by 8,000 in December, after 8,000 gains in November. While residential construction gained 4,000 jobs, non-residential construction employment added 4,700 jobs for the month. Residential construction employment now stands at 3.4 million in December, broken down as 961,000 builders and 2.4 million residential specialty trade contractors. The 6-month moving average of job gains for residential construction was 3,333 a month. Over the last 12 months, home builders and remodelers added 51,000 jobs on a net basis. Since the low point following the Great Recession, residential construction has gained 1,396,200 positions. In December, the unemployment rate for construction workers rose to 5.5% on a seasonally adjusted basis. The unemployment rate for construction workers has remained at a relatively lower level, after reaching 15.3% in April 2020 due to the housing demand impact of the COVID-19 pandemic. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Solid Job Market in DecemberJing Fu2025-01-13T10:19:38-06:00

Residential Construction Loan Volumes Decline Over the Third Quarter

Jesse Wade2025-01-10T10:21:23-06:00

The total volume of outstanding acquisition, development, and construction (AD&C) loans made by FDIC-insured institutions fell for the third consecutive quarter during the third quarter of 2024 to a volume of $490.7 billion, down from $495.8 billion in the second quarter. Interest rates remained higher over the third quarter, as the Fed issued its first rate cut at the end of the quarter in September. Future AD&C lending conditions are poised to improve as the Fed continues its easing cycle over the next year despite potential headwinds of higher Government deficits and economic uncertainty. The volume of 1-4 family residential construction and land development loans totaled $90.8 billion in the third quarter, down 8.4% from one year ago. This year-over-year decline marked the fifth straight quarter where the total volume of outstanding loans declined compared to a year prior. All other real estate development loans totaled $399.9 billion in the third quarter, down $4.3 billion from the previous quarter. It is worth noting, the FDIC data represent only the stock of loans, not changes in the underlying flows, so it is an imperfect data source. Lending remains much reduced from years past. The current amount of existing 1-4 family residential AD&C loans now stands 55% lower than the peak level of residential construction lending of $204 billion reached during the first quarter of 2008. Alternative sources of financing, including equity partners, have supplemented this capital market in recent years. While the volume of 1-4 family residential AD&C loans fell during the third quarter, the volume of past due and nonaccrual residential AD&C loans rose above $1 billion for the first time since 2014. A majority of this outstanding total was made up of loans in nonaccrual status (typically a loan where the lender does not expect to receive payment) which totaled $505.9 million. The outstanding loan balance for those 30-89 days past due was $491.5 million and loans 90 days or more past due totaled $65.4 million. As a share of the total outstanding stock of 1-4 family residential AD&C loans ($90.8 billion), past due and nonaccrual loans ($1.0 billion) made up 1.2% of the outstanding stock of loans. Discover more from Eye On Housing Subscribe to get the latest posts sent to your email.

Residential Construction Loan Volumes Decline Over the Third QuarterJesse Wade2025-01-10T10:21:23-06:00

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