Articles

Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter of 2020, real GDP decreased 5.0 percent. Read More

"Low supply of existing homes and low interest rates are key factors in helping the 55+ housing market bounce back to where it was at the beginning of the year," said Harry Miller III, chairman of NAHB's 55+ Housing Industry Council and president of Regal Builders LLC in Dover, Del Read More

Personal income decreased 1.1 percent while consumer spending increased 5.6 percent in June. Read More

NAHB chief economist Robert Dietz, “Like the broader housing market, we are seeing the 55+ housing market return to pre-pandemic levels. However, challenges such as rising lumber costs and availability of skilled labor will limit a more robust recovery." Read More

One segment that is showing resilience is luxury spending on home products such as kitchen and bath items, according to a recent webinar, “Consumer Confidence and the Discretionary Dollar,” hosted by the National Kitchen & Bath Association (NKBA). Read More

U.S. floor coverings manufacturer dollar sales (U.S. factory shipments minus exports plus imports) could have increased by only 1.1 percent to $27.6 billion in 2019. This is down from a 5.7 percent increase in 2018. Square foot sales could have declined by 1.8 percent to 23.5 billion as rising average selling prices dampened demand. Read More

In a sign that the housing market is leading the economy during the coronavirus outbreak, sales of newly built, single-family homes rose to their highest level since the Great Recession, up 13.8 percent to a seasonally adjusted annual rate of 776,000 units in June, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Read More

"Along with rising builder sentiment, we are seeing increasing consumer demand in the suburbs, exurbs and rural areas," said NAHB chief economist Robert Dietz. "At the same time, builders are dealing with supply-side concerns such as rising material costs, particularly lumber, which surpassed its 2018 price peak this week. Nonetheless, low inventory levels point to construction gains ahead." Read More

"Fueled in part by record low mortgage rates, builders are seeing solid demand for housing despite the challenges of the virus and elevated unemployment," said Chuck Fowke, chairman of the National Association of Home Builders and a custom home builder from Tampa, Fla. "Demand is growing in lower density markets, including exurbs and small metros." Read More

“While business conditions remained soft at firms across the country, those with a multifamily residential specialization saw the most positive signs,” said AIA chief economist Kermit Baker, PhD, Hon. AIA. “Unfortunately, conditions at firms with a commercial/industrial specialization are likely to remain weak for an extended period of time, until hospitality, office and retail facilities can fully reopen, and design demand for this space begins to increase.” Read More