Although lumber prices have declined somewhat recently, this follows a period of record increases that started in mid-2020 and have left prices at historic highs. In a recent NAHB survey, 94 percent of builders reported a shortage of framing lumber. Despite this, as Tuesday’s post showed, wood framing remains the dominant construction method for single-family…
A new NAHB study shows that, on average, regulations imposed by government at all levels account for $93,870 of the final price of a new single-family home built for sale. Of the $93,870, $41,330 is due to a higher price for the finished lot, attributable to regulations imposed during the lot’s development. The remaining $52,540…
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…
Public education accounts for almost 40% of local government direct expenditures per housing unit, based on data from the Census of Government. School impact fees on new construction are typically determined in part by assumptions about the number of children in public schools per housing unit. The most recent 2018 American Community Survey (ACS) data…
As the U.S. economy struggles under the burden of the coronavirus pandemic, economists are discussing how a recovery might unfold once social distancing and other measures begin to succeed. A recent NAHB article illustrates the role home building can play in a recovery by generating jobs. The article published updated estimates of the national economic…
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 persistent supply-side headwinds for builders, creating a critical housing affordability…
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….
