Increased interest rates, building material supply chain bottlenecks and elevated construction costs continue to put a damper on the single-family housing market. For the first time since June 2020, both single-family starts and permits fell below a 1 million annual pace.
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Rising Interest Rates, Higher Construction Costs Slow Housing Production
Rising interest rates and ongoing building material supply chain disruptions that raise construction costs continue to act as significant headwinds on the housing market.
Read MoreHolcim, Habitat for Humanity Enter Partnership
Holcim and Habitat for Humanity have entered a partnership to accelerate access to affordable housing driven by an innovative digital platform. Together they are deploying an online affordable housing portal to enable low-income families to access finance as well as building materials and solutions in a safe and seamless way, with plans to scale up in Latin America, North America…
Read MoreMultifamily Production at a Two-Year High, Single-Family Starts Up
Despite production bottlenecks and rising construction costs, total housing starts led by a strong multifamily reading posted a solid gain in February as demand stays strong and existing inventory remains at low levels.
Read MoreJanuary New Home Sales Lower But Solid
New home sales declined in January on rising interest rates but still posted a steady reading as demand remains strong. Sales of newly built, single-family homes in January fell 4.5% to an 801,000 seasonally adjusted annual rate from a sharp upwardly revised reading in December, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Read MoreHousing Starts Show Strength in November; Permits Up
Single-family housing showed strength in November despite supply-chain limitations for materials and ongoing access issues for labor and lots. Overall housing starts increased 11.8% to a seasonally adjusted annual rate of 1.68 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Read MoreNew Home Sales Flat in October
Contracts for new, single-family home sales were flat at a 745,000 seasonally adjusted annual rate in October, according to estimates from a joint release by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. However, the flat reading was due to a significant downward revision for the September pace (revised from an 800,000 rate to 742,000).
Read MoreTotal Housing Starts Rise in August
Strong multifamily production helped push overall housing starts up in August as single-family starts edged lower due to ongoing supply chain issues and labor challenges. Total starts increased 3.9% to a seasonally adjusted annual rate of 1.62 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Read MoreNew Single-Family Home Sales Rise
As the market has cooled due to higher costs, July recorded a slight gain of 1% for sales of newly constructed single-family homes, according to estimates from the Census Bureau and the Department of Housing and Urban Development.
Read MoreNew Home Sales Soften in April
Rising building materials costs and low inventory have caused new home sales prices to jump 20% on a year-over-year basis, harming housing affordability and driving down the pace of new home sales. Sales of newly built, single-family homes fell 5.9%, following a significant downward revision of the March estimate, to a 863,000 seasonally adjusted annual rate, according to newly released data by the U.S.…
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