Recently in the U.S., there was an outsize jump in apartment building, which caused there to be a moderate rise in U.S. housing starts. These housing starts increased by 9.2% in the month of August. With housing starts being on the rise, it is essential to find a trusted company that makes closing easy for you. At SETCO we train our team to know how to make closings easy and stress-free for our clients.
Building permits have been down for multifamily building, signaling that demand is falling for apartments and condominiums. However, permits are still low for the single-family sector as well. Labor shortages and rising material costs have been posing challenges for builders trying to incline their construction. Housing-starts data can be highly unpredictable from month to month which can make them subject to large revisions. August’s starts had a margin error of 11.4 percent.
With potential buyers dealing with rising prices and borrowing costs, they are often deterred from buying. SETCO helps realtors with these issues, doing what we can to aid them in getting their closing on the house.
The National Association of Home Builders does not expect builder confidence to change for the month of September. Labor costs and affordability are going to continue to be an increasing challenge for everyone in the housing industry. With fewer houses being built, it makes it even harder to close on a house.
SETCO aims to help make our clients' closing process as smooth as possible.
With our in-depth knowledge of the housing industry, such as the things mentioned above, we can make decisions that help realtors help their clients.
Contact us today to get started with an experienced, friendly closing agent!