Eye On Housing
Higher mortgage rates averaging above 7% put a damper on single-family production in August, as builders also continue to face supply-side challenges in the form of elevated construction costs, a lack of skilled labor and a shortage of buildable lots. Led by a sharp decline in multifamily production, overall housing starts declined 11.3% to a seasonally adjusted annual rate of… Read More ›
A sharp decline in single-family home construction is another indicator that the housing slowdown is showing no signs of abating, as rising construction costs, elevated mortgage rates and supply chain disruptions continue to act as a drag on the market. Overall housing starts fell 9.6% to a seasonally adjusted annual rate of 1.45 million units in July, according to a… Read More ›
Single-family starts declined further in May, as higher interest rates weighed on housing affordability. This follows a sixth straight monthly decline for the NAHB/Wells Fargo HMI. Additionally, the cost and availability of materials, lumber, labor and lots remain key supply-side headwinds. Single-family permits decreased 5.5% to a 1.05 million unit rate in May. Despite declines for housing affordability, a lack… Read More ›
Single-family starts posted a small increase in February, as lack of resale inventory continues to support housing demand despite higher interest rates. The availability of materials, lumber, labor and lots remain key headwinds, with access to labor in particular likely to become more challenging in 2022. Overall housing starts increased 6.8% in February to a seasonally adjusted annual rate of… Read More ›
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 the year with a 22.1%… Read More ›
Single-family housing showed strength in November despite supply-chain limitations for materials and ongoing access issues for labor and lots. Overall housing starts increased 11.8% to a seasonally adjusted annual rate of 1.68 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The November reading of 1.68 million starts is… Read More ›
Total housing starts increased 3.9% in August, due to strength for multifamily development. According to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, single-family starts were down 2.8% for the month, while overall multifamily starts was up 21% in August. The August total starts reading of 1.62 million starts is the number of… Read More ›
Housing production declined in July due to rising prices and limited availability of lumber and other building materials. Overall housing starts decreased 7.0% to a seasonally adjusted annual rate of 1.53 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The July reading of 1.53 million starts is the number… Read More ›
Housing production was steady in June, although permit issuance weakened as higher construction costs and other supply limitations are deferring and delaying some construction projects. Overall housing starts increased 6.3% to a seasonally adjusted annual rate of 1.64 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. However, single-family permits… Read More ›
Housing production jumped in March despite rising lumber and other material prices affecting the housing industry. Overall housing starts increased 19.4% percent to a seasonally adjusted annual rate of 1.74 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This was the fastest pace for combined single-family and multifamily construction… Read More ›