Ongoing lean levels of single-family existing home inventory helped to boost single-family production last month, while overall housing production fell because of a double-digit percentage drop in multifamily output. Overall housing starts decreased 1.8% in November to a seasonally adjusted annual rate of 1.29 million units, according to a report from the U.S. Department of Housing and Urban Development and…
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New Home Sales Decline in October
Steadily rising mortgage rates coupled with ongoing affordability challenges kept many potential home buyers on the sidelines in October.
Read MoreNew Home Sales Rise in September
Home buyers moved off the sidelines in September following the Federal Reserve’s recent move to cut interest rates for the first time in four years.
Read MoreSingle-Family Starts Up in August
Single-family starts posted a solid gain in August on robust demand and moderating mortgage rates even as builders continue to grapple with challenges related to lot and labor shortages and elevated prices for many building materials.
Read MoreNAHB Commends Vice President’s Focus on Housing Production, Affordability
Carl Harris, chairman of the National Association of Home Builders (NAHB) and a custom home builder from Wichita, Kan., issued the following statement regarding Vice President Kamala Harris’s housing plan announced during a campaign event in Raleigh, N.C.:
Read MoreNew Home Sales Fall in May
Sales of newly built, single-family homes in May fell 11.3% to a 619,000 seasonally adjusted annual rate from a sharp upwardly revised reading in April, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in May is down 16.5% from a year earlier and…
Read MoreNew Home Sales Post Solid Gain in March
Despite higher interest rates last month, new home sales rose in March due to limited inventory of existing homes. However, the pace of new home sales will be under pressure in April as mortgage rates moved above 7% this month, which is expected to moderate sales and increase the use of builder sales incentives this spring.
Read MoreHousing Starts Fall on Interest Rate, Financing Concerns
Housing starts fell in March with interest rates somewhat higher than expected last month as the latest inflation readings failed to show improvement. Builders are also still facing higher supply-side costs and tighter lending conditions.
Read MoreInterest Rates, Demand Push Single-Family Starts Higher
Pent-up demand, moderating interest rates and a lack of existing inventory helped push single-family starts in February to their highest level since April 2022. Overall housing starts increased 10.7% in February to a seasonally adjusted annual rate of 1.52 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The…
Read MoreHousing Starts Decline in January on Multifamily Weakness
A sharp decline in multifamily starts pushed overall housing starts down in January even as single-family production showed signs of a gradual improvement later this year as interest rates continue to moderate.
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