Articles

Sales of newly built, single-family homes in October dipped 0.3 percent to 999,000 from an upwardly revised September number, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Despite the monthly decline, the October rate is 41.5 percent higher than the October 2019 pace, and on a year-to-date basis, new home sales are up 20.6 percent in 2020. Read More

Personal income decreased 0.7 percent while consumer spending increased 0.5 percent in October as federal economic recovery payments and pandemic-related assistance programs continued to wind down. Read More

Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020, as efforts continued to reopen businesses and resume activities that were postponed or restricted due to COVID-19. The increase is the same as in the 'advance' estimate released in October. In the second quarter of 2020, real GDP decreased 31.4 percent. Read More

"Historically low mortgage rates, favorable demographics and an ongoing suburban shift for home buyer preferences have spurred demand and increased new home sales by nearly 17 percent in 2020 on a year-to-date basis," said NAHB chairman Chuck Fowke, a custom home builder from Tampa, Fla. "Though builders continue to sign sales contracts at a solid pace, lot and material availability is holding back some building activity. Looking ahead to next year, regulatory policy risk will be a key concern given these supply-side constraints." Read More

"Sentiment regarding the multifamily housing market has risen from recent lows, but there are persistent headwinds and ongoing uncertainty," said Barry Kahn, president of Hettig-Kahn Holdings in Houston and chairman of NAHB's Multifamily Council. "Nevertheless, lenders see multifamily performing better than most other forms of commercial real estate." Read More

"As seen in the NAHB/Wells Fargo builder confidence index, single-family starts continue to grow off a historic rebound that began in April," said Chuck Fowke, chairman of the National Association of Home Builders (NAHB) and a custom home builder from Tampa, Fla. "Current demand is being supported by historically low interest rates and home buyer preferences shifting to the suburbs and exurbs." Read More

TCNA Statistical Report on U.S. ceramic tile consumption through 3Q 2020 was 2.04 billion sq. ft., an 11.6% decline vs. 3Q 2019 YTD.1 Read More

"Though low mortgage rates and favorable demographics have helped spur demand, a lack of inventory exacerbated by supply chain issues stemming from the COVID-19 pandemic have contributed to rising home prices," said NAHB chairman Chuck Fowke, a custom home builder from Tampa, Fla. "Surging lumber prices also peaked more than 170 percent above mid-April levels in September, raising building costs. However, lumber prices are now trending lower, which is good news for prospective home buyers."   Read More

"We saw 55+ buyers come out in force in the third quarter of this year, driving strong growth in sales at 55+ communities," said Harry Miller III, chairman of NAHB's 55+ Housing Industry Council and president of Regal Builders LLC in Dover, Del. "However, shortages of key building materials are contributing to affordability concerns and delayed construction schedules, although recent declines in lumber prices offer good news." Read More

At press time, 2020 estimated sales were based on the industry average of a 0.04 percent decrease. Note, however, that 2020 sales projections vary significantly depending on a distributor’s business model, region served, retail accounts and lines carried as well as the mix of domestic versus imported goods. Read More