New Home Sales Increase in December

New single-family home sales increased in December as housing demand was lifted by buyers accelerating some contract signings due to anticipated higher mortgage interest rates in 2022. However, for the year as a whole, sales ended 7.3% lower than a supercharged 2020, as builders slowed some sales to manage ongoing building material and labor issues…

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Housing Starts End 2021 with Annual Gains

Home building ended 2021 with strong annual gains as demand accelerated in the wake of the pandemic. These annual gains were realized despite supply-chain limitations for materials and ongoing access issues for labor and lots. Single-family starts ended 2021 with a 13.4% increase for a total of 1.123 million starts. Multifamily 5+ unit construction ended…

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November Single-Family Permit Gains

Over the first eleven months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 1,029,208. On a year-over-year (YoY) basis, this is a 15.9% increase over the November 2020 level of 888,217. Year-to-date ending in November, single-family permits increased in all four regions. Southern region reported the strongest increase of 17.6%,…

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Operation Costs per Dollar Value Lower for New Homes

New NAHB research based on the latest 2019 American Housing Survey (AHS) shows that, on average, homeowners spend around $9,240 per year to operate and maintain a single-family detached home. This includes property taxes, insurance, maintenance and utilities, with property taxes being the costliest component. Annual operating costs increase consistently with household income, home size…

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