The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly issued new residential construction statistics for August 2023 and the numbers point to a drop in both building permits and housing starts compared to this time last year. The numbers were down 2.7% and 14.8% respectively. Building permits, the report noted, […]

The National Association of Homebuilders (NAHB) has reported that, after steadily rising for seven consecutive months, builder confidence fell for the first time this year in August. The association points to rising mortgage rates that, according to Freddie Mac, are nearing 7%, along with “stubbornly high” shelter inflation, as having eroded housing affordability and put […]

The outlook among homebuilders improved in May, as production for single-family projects saw its highest rate yet in 2023. Confidence in the market for newly built single-family homes rose by five points to 50, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The improvement marks a fifth straight month […]

Data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau just before Christmas shows that sales of newly built, single-family homes in November increased 5.8% to a seasonally adjusted annual rate of 640,000. At the same time, on a year-to-date basis, new home sales are down 15.2%. The National […]

The National Association of Home Builders (NAHB) points to continued elevated interest rates, high building material costs and declining affordability conditions pushing buyers to the sidelines as the source of the continued drag on builder sentiment. NAHB recorded the lowest confidence reading since June 2012 with the exception of the onset of the pandemic in […]

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD) recently reported that the sales of new single‐family homes was up in August 2022, assessed at a seasonally adjusted annual rate of 685,000, which the report says is a 28.8% increase over July’s revised rate of 532,000. Despite gains over July, […]

The National Association of Homebuilders (NAHB) reported last week that new home sales in July fell to their lowest level since January 2016. Tepid sales pace matches declining builder confidence as reported by the association since the beginning of the year, as the industry grapples with supply chain disruptions that are delaying new home building […]

Newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau shows that new home sales posted a solid gain last month, driven by strong buyer demand, low existing home inventory and buyers’ anticipation of higher mortgage rates. “Our members are seeing strong buyer traffic as continued low mortgage […]

The NAHB/Wells Fargo Housing Market Index (HMI) released last week shows sentiment in the market for newly built single-family homes moved four points higher to 80 in October, driven in part by strong consumer demand. The growing affordability challenges stemming from rising material prices and shortages didn’t damper single-family home starts in September, officials said, […]

A recent report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau shows overall housing starts increased 3.6% in May to a seasonally adjusted annual rate of 1.57 million units off of a downwardly revised April reading. The May reading of 1.57 million starts is the number of housing units […]