At the conclusion of its January policy meeting, the Federal Open Market Committee strongly signaled that it will undertake its first, post-covid increase of the federal funds rate in March. The Fed is tightening monetary policy in response to the highest inflation readings in nearly…
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…
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…
Growing inflation concerns and ongoing supply chain disruptions snapped a four-month rise in builder sentiment even as consumer demand remains robust. Builder confidence in the market for newly built single-family homes moved one point lower to 83 in January, according to the National Association of…
The construction labor market remains tight, as the levels of quits rise. The count of open construction jobs declined to 345,000 unfilled positions in November, after recording the highest measure in the history of the data series (going back to late 2000), 445,000 in October….
Home building in the 2010s was a story of the Long Recovery. After the Great Recession, the number of home builders declined significantly, and housing production was unable to meet buyer demand. This deficit of housing in the United States continues to exist because of…
