Articles

"The remodeling market has recovered from the pandemic and continues to grow as the economy strengthens," said NAHB Remodelers chair Steve Cunningham, CAPS, CGP, a remodeler from Williamsburg, Va. "Increased household savings during the second half of 2020 have lifted budgets available for home improvement projects. However, demand is stronger than many remodelers can handle, resulting in being forced to turn work away." Read More

As the housing industry celebrates New Homes Month in April, recent data from the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), reveals that first-time home buyers account for almost half (43 percent) of the new home market in 2021, up from 32 percent in 2018. Read More

Personal income decreased $1,516.6 billion, or 7.1 percent at a monthly rate, while consumer spending decreased $149.0 billion, or 1.0 percent, in February. Read More

Architecture Billings Climb into Positive Territory March 24, 2021 from TalkFloor Continuing the positive momentum of a nearly three-point bump in January, the… Read More

BEA News: Gross Domestic Product, (Third Estimate), GDP by Industry, and Corporate Profits, Fourth Quarter and Year 2020 March 25, 2021 – Real gross domestic product (GDP)… Read More

Higher interest rates, supply shortages and rising material prices, particularly for lumber, put a damper on new home sales in February. Sales of newly built, single-family homes fell 18.2 percent to a 775,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the lowest level since last May. Read More

Higher interest rates, supply shortages and rising material prices, particularly for lumber, put a damper on new home sales in February. Sales of newly built, single-family homes fell 18.2 percent to a 775,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the lowest level since last May. Read More

Housing production weakened in February as higher material costs and interest rates continue to affect the housing industry. Overall housing starts decreased 10.3 percent to a seasonally adjusted annual rate of 1.42 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Read More

The NAHB reports that multifamily starts are expected to fall 11 percent this year to 349,000 units from a projected total of 392,000 in 2020, however multifamily production is expected to post modest gains in 2022, up 5 percent to 365,000 units. Read More

After declining for four years, a number of key trends-including the average size of the home and the number of bedrooms and bathrooms-reversed course in 2020 as a result of shifting buyer preferences in the wake of COVID-19. The average size home remained flat at 2,486 square feet, while the percentage of homes with four or more bedrooms and three or more bathrooms rose to 46 percent and 33 percent, respectively-rising closer to 2015 peaks. Read More