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Record Low New Home Sales and Construction Inventory

Pro Builder

Record Low New Home Sales and Construction Inventory. After a boom in new home sales during the first months of the pandemic, rates are steadily declining year-over-year with an inventory supply just above the record low of 33 thousand, according to the CalculatedRisk Newsletter. percent below the September 2020 estimate of 971,000.

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Low Inventory Slows New Home Sales at the Close of 2021

Pro Builder

Low Inventory Slows New Home Sales at the Close of 2021. Despite hitting an all-time low of 33 thousand completed homes for sale earlier this year, inventory is back up to 39 thousand, and the inventory of homes under construction is at its highest since 2007, though supply-chain issues will likely delay many projects into the coming year.

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Starter Home Inventory at Five-Decade Low

Pro Builder

Starter Home Inventory at Five-Decade Low. There were 418,000 new starter homes constructed in the late 1970s, but there were just 65,000 starter homes completed in 2020. Freddie Mac defines entry-level housing as homes up to 1,400 square feet, and inventory for those homes is now at a five-decade low, reports Realtor.com.

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Single-Family Built-for-Rent Inventory Jumps 50% From 2019

Pro Builder

Single-Family Built-for-Rent Inventory Jumps 50% From 2019. According to NAHB’s analysis of the Census Bureau’s data on quarterly starts and completions, roughly 12,000 single-family built-for-rent homes began construction at the end of 2020’s fourth quarter. cbroderick. Fri, 02/19/2021 - 09:43. Read More. . Built for Rent.

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New Home Sales Remain Far Below 2020 Rates

Pro Builder

New Home Sales Remain Far Below 2020 Rates. Year-over-year single family home sales suggest a slow end to the 2021 market after a 2020 surge. below the October 2020 rate of 969,000, according to the CalculatedRisk Newsletter. . below the October 2020 rate of 969,000, according to the CalculatedRisk Newsletter. .

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How the Skilled Labor Shortage Is Slowing New Home Development

Pro Builder

A national shortage of skilled construction labor is prolonging a housing crisis defined by low inventory and affordability. The NAHB is estimating that 740,000 workers will need to be hired each year for the next three years to keep up with market demand. percent in 2020. The HBI report offers a number of other key findings.

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New-Home Sales Reach Strongest Rate Since 2006

Pro Builder

Estimated sales of new single-family homes advanced 20.7% compared to March 2020, according to data from the U.S. Consider that despite elevated unemployment, new home sales are estimated to be 34.4% higher for the first three months of 2021 compared to the first three months of 2020. Total inventory declined 44.6%