Tag Archive for ‘housing’

New Home Sales Rise, But Only In The South

Sales of new single-family homes rose by 6.7 percent in May to reach a seasonally adjusted annual rate of 689,000 according to a report released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. A downward revision to the sales pace in April, from 662,000 to 646,000, partly contributed to the increase in sales. Regionally,… Read More ›

Builders Say Lumber Prices Are Hurting Affordability

In a recent NAHB survey, over 40 percent of builders said construction costs in general are causing home buyers to hold back from purchasing a new home, and over 90 percent said that lumber prices specifically are hurting affordability. The results are consistent with yesterday’s post, which described a surge in the number of builders reporting a shortage of framing lumber. The new results… Read More ›

Number of Builders Reporting a Shortage of Framing Lumber Surges

Shortages of framing lumber are now more widespread than at any time since NAHB began tracking the issue in a consistent way in 1994, according to results from the May 2018 survey for the NAHB/Wells Fargo Housing Market Index.  Over 30 percent of single-family builders responding to the survey’s special questions in May reported a shortage of framing lumber, outdistancing the other 22… Read More ›

Housing Starts Reach Post-Recession High in May as Permits Soften

Total housing starts increased in May with gains in both the single-family and multifamily sectors. Starts increased 5% month-over-month to a 1.35 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. This pace is a post-recession high. The rate of single-family starts was 3.9% higher in May, reaching a 936,000 annual rate…. Read More ›

Builder Confidence Slips Two Points as Lumber Prices Soar

Builder confidence in the market for newly-built single-family homes fell two points to 68 in June on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The decline was due in large part to sharply elevated lumber prices, although sentiment remains on solid footing. Improved economic growth, continued job creation and solid housing demand should spur additional single-family… Read More ›

Regulation: Over 30 Percent of the Cost of a Multifamily Development

Regulation imposed by all levels of government (whether local, state or federal) accounts for 32.1 percent of the cost of an average multifamily development, according to a new study conducted jointly by the National Association of Home Builders (NAHB) and the National Multifamily Housing Council (NMHC).  The study is based primarily on a survey of multifamily developers from both organizations. The results… Read More ›

Consumer Prices Rise

The Bureau of Labor Statistics (BLS) reported that consumer inflation rose by 0.2 percent in May, similar to its growth rate in April. Both food and energy prices decelerated over the month, but the slowdown in these items was offset by an acceleration in core CPI to 0.2 percent, from 0.1 percent in April. Over the year, headline inflation climbed… Read More ›

Homeowners’ Equity Reaches a New High

Over the first quarter of 2018, the value of owners’ equity in real estate expended and hit a new high on a nominal and not seasonally adjusted basis, according to the Financial Accounts of the United States for the first quarter of 2018. This data is published by the Board of Governors of the Federal Reserve System. On a nominal… Read More ›

Over Three-Fifths of Builders Have Encountered Cluster Mail Boxes

The United States Post Office has been attempting to reduce or eliminate sidewalk and curbside delivery of mail to individual homes, especially in new subdivisions.  Instead, the Post Office now wants to deliver mail primarily to centralized or “cluster” mail boxes, each serving multiple homes in a development. So far, implementation of this policy has varied across the country, as local post offices… Read More ›