It’s encouraging to see single-family housing starts pick up last month, reaching their highest level in five months—this points to more new-home possibilities on the horizon. While permits for future homes dipped, meaning builders are starting projects a bit faster than they’re planning new ones, it does suggest a current focus on getting homes underway now. Finished single-family homes declined, so there’s a bit less ready-to-move-in inventory, and the sharp slowdown in larger multifamily projects has softened the overall pace of new construction. Builders are responding with incentives and selective price reductions, which gives buyers more options to consider and makes thoughtful financing even more important. In our local Lake Murray and surrounding markets, the best near-term opportunities are often in homes already well into construction—where weighing available builder offers against outside loan choices can make a significant difference. My approach has always been to give you room to make the right decision at your own pace, and I’m here to help you navigate these shifting opportunities with local knowledge and patience.

In Late-Q3, a builder-confidence index fell 3 points to 32. Current sales conditions slipped to 35, while six-mo sales expectations dropped to 37.
Prospective buyer traffic held at 23. Meanwhile, 38% of builders nationwide cut prices, and two-thirds used incentives, up from 63% in Mid-Q3.
Mortgage applications for new-home purchases declined for a fifth straight mo in Mid-Q3 as avg. 30-yr rates hovered in the high-6% range.
Large builders kept leaning on builder-paid rate buydowns, helping buyers secure below-market mortgages and supporting sales without relying solely on broader new-home price cuts.
With 30-yr rates near 7% in Late-Q3, two housing forecasters expected them to stay in the high-6% range or higher through 2027.

Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.

Banking, homebuilding, and government leaders urged Congress to expand housing reforms, saying the passed federal law missed barriers affecting Americans' ability to buy homes.
Large housing commitments from lenders and a rental platform highlighted financing interest, even as one banking executive said middle-income buyers were priced out.
That executive said a middle-income home needed $124K income after ~doubling in 5 yr, while 169 of 390 metros lacked enough supply.
Industry advocates said federal sourcing rules increase compliance demands, and a trade group estimated fees and related costs added $131K to building a new home.
Builders said local politics often shape project success, making public-private deals, timing, and cleaner deregulation important tools for developing communities more quickly.

A current trade-group study found no single nationwide pattern: data center concentration aligned with stronger home values and jobs, but also higher utility costs.
Across the US, data centers remained rare: 92% of counties had none, just 1% had 10+, and the top 10 counties held 42%.
Counties with 10+ facilities showed a $431.75K median home value and ~$89K household income, versus $174.5K and ~$64K where none existed.
Broker feedback stayed mixed for homes: 25% saw nearby residential gains, 22% saw declines; commercially, 50% saw value gains and 42% stronger land demand.
Energy costs led client concerns at 61%, followed by water use at 56%; that made local market intelligence especially valuable in affected communities.

By Mid-Q2 2024, 18 US states had more homes for sale than in 2019, marking a notable break from the post-pandemic inventory shortage.
Nationally, though, the market still remained tight, with US inventory well below pre-pandemic levels even as supply recovered in selected states overall.
The inventory increase was linked to higher mortgage rates slowing buyers and to stronger homebuilding, which left more listings available as demand cooled.
An economist said this kind of normalization gave buyers more choice and could help moderate price growth where supply had moved above pre-pandemic benchmarks.
For sellers, the shift meant more competition, making sharper pricing and stronger presentation increasingly important while market watchers tracked whether more states might follow.