Articles

Personal income decreased $414.3 billion, or 2.0 percent at a monthly rate, while consumer spending increased $2.9 billion, or less than 0.1 percent, in May. The decrease in personal income reflected declines in pandemic-related assistance programs. Read More

New home sales fell to the lowest pace in a year, with prices jumping 18 percent on a year-over-year basis, due to the high costs and uncertain availability of building materials, lots and labor. Read More

Demand for design services from U.S. architecture firms continues to grow at a vigorous pace, according to a new report today from The American Institute of Architects (AIA). Read More

Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. The increase was the same rate as the "second" estimate released in May. In the fourth quarter of 2020, real GDP increased 4.3 percent. Read More

A new report released from the American Institute of Architects (AIA), in partnership with Oldcastle Building Envelope, is providing an in depth look at the impact of the pandemic on design firm business conditions.  Read More

The May reading of 1.57 million starts is the number of housing units builders would begin if development kept this pace for the next 12 months. Within this overall number, single-family starts increased 4.2 percent to a 1.10 million seasonally adjusted annual rate. The multifamily sector, which includes apartment buildings and condos, increased 2.4 percent to a 474,000 pace. Read More

“So far, the economic recovery from the pandemic has disproportionately benefited Americans with bigger bank accounts,” said Redfin chief economist Daryl Fairweather. “This means a lot of the demand for homes is coming from folks who are well-off, while many lower-income Americans sit on the sidelines because they’ve been priced out of the housing market due to surging prices.” Read More

“High-End Home Sales Surge Nearly 2x as Fast as Mid-Priced Homes”. Redfin also reported that “Homes of Every Price Are Flying Off the Shelves”. Redfin is a technology-powered real estate broker, and self-describes as also running the country’s #1 real-estate brokerage site.  Read More

"The value of homeownership has never been greater as evidenced by the increase in active buyers this year," said NAHB chairman Chuck Fowke, a custom home builder. "Home builders are eager to meet this demand, but are hamstrung by high lumber costs. Policymakers must seek out solutions to resolve the lumber price problem to help more families achieve the American Dream." Read More

"The first quarter HBGI indicates that home building not only continued to overperform in lower cost markets like suburbs and exurbs, but also expanded the most rapidly for single-family and multifamily construction in areas with the shortest commutes," said NAHB chief economist Robert Dietz. "As workplaces increasingly adopt hybrid work models for roughly 30-40 percent of the American workforce, renters and buyers will have increased market power to minimize travel times and reduce both housing and transportation cost burdens." Read More