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Confidence in the market for new multifamily housing weakened slightly in the third quarter, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). Read More

According to the latest Floor Coverings Industry Trends Report from Catalina, during 2019, the value of U.S. floor coverings manufacturer sales (shipments minus exports plus imports) could increase by 1.2 percent to $27.6 billion. Square foot sales, however, could decline by 1.1 percent to 23.6 billion. Manufacturer sales were sluggish during 2019 due to an overhang of inventories accumulated from the rush to import Chinese-made flooring in late 2018 to beat rising tariffs, the report stated. Read More

"Single-family builders are currently reporting ongoing positive conditions, spurred in part by low mortgage rates and continued job growth," said NAHB chairman Greg Ugalde, a home builder and developer from Torrington, Conn. "In a further sign of solid demand, this is the fourth consecutive month where at least half of all builders surveyed have reported positive buyer traffic conditions." Read More

“Despite the gradual slowdown in the U.S. economy, consumers are in a good place and October’s retail sales are a step forward into the all-important holiday season,” NRF chief economist Jack Kleinhenz said. “Uncertainty around trade policy has impacted consumer sentiment recently but ongoing job growth, low interest rates, low inflation and the stock market hitting record highs provide support for consumer spending.” Read More

Pending home sales grew in September, marking two consecutive months of increases, according to the National Association of Realtors (NAR). The four major regions were split last month, as the Midwest and South recorded gains, but the Northeast and West reported declines in month-over-month contract activity. Read More

"With mortgage rates at historic lows, consumers are experiencing greater buying power and increased affordability," said NAHB chairman Greg Ugalde, a home builder and developer from Torrington, Conn. "Despite this positive development, builders still struggle with rising construction costs due to labor shortages and excessive regulations, which will continue to make housing affordability a major challenge." Read More

"Demand for 55+ single-family housing remains strong, mirroring the gains we have seen in the overall market, which has been largely supported by low interest rates and healthy job growth," said NAHB chief economist Robert Dietz. "Sentiment about the 55+ multifamily market declined somewhat this quarter, but on balance remains positive. A modest decline was not surprising, given the post-Great recession record number of apartments currently under construction." Read More

Sales of newly built, single-family homes decreased 0.7 percent to a seasonally adjusted annual rate of 701,000 units in September off a downwardly revised reading in August, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. On a year-to-date basis, new home sales for 2019 are 7.2 percent higher than the same period in 2018. Read More

"The demand for remodeling is fueled by a healthy labor market and low interest rates," said NAHB chief economist Robert Dietz. "However, the remodeling market is still constrained by high costs and lack of skilled labor." Read More

Due to a decline in multifamily housing starts, total housing starts fell 9.4 percent in September to a seasonally adjusted annual rate of 1.26 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department. Read More