Moderating Interest Rates, Pent-up Demand Push Single-Family Starts Higher

Pent-up demand, moderating interest rates, and a lack of existing inventory helped push single-family starts in February to their highest level since April 2022. Overall housing starts increased 10.7% in February to a seasonally adjusted annual rate of 1.52 million units, according to a report from the U.S. Department of Housing and Urban Development and…

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Strong Rebound in Single-Family Permits at the Start of 2024

Over the first month of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 75,906. On a year-over-year (YoY) basis, this is an increase of 43.1% over the January 2023 level of 53,062. Year-to-date ending in January, single-family permits were up in all four regions. The range of permit increase spanned 67.0%…

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November Gains for Private Residential Construction Spending

NAHB analysis of Census data shows that private residential construction spending rose 1.1% in November, after an increase of 2% in October. It stood at a seasonally adjusted annual pace of $897 billion. Total private residential construction spending is 3.7% higher compared to a year ago. The monthly increase for total construction spending is attributed…

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Builders’ and Remodelers’ Use of Technology in 2019

According to a recent NAHB study, although use of some factory-produced components like trusses has become widespread, the newer and more innovative types of construction technology, such as 3D printing and robots, have so far penetrated the residential market only to a very limited extent.  This is true for both single-family builders and residential remodelers….

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