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Fed Economist Forecasts Uptick in Single-Family Construction

Pro Builder

Fed Economist Forecasts Uptick in Single-Family Construction. NAHB reports. Thu, 10/06/2022 - 10:24. The housing market may be slowing, but senior economist Jordan Rappaport predicts an upcoming surge in single-family home building . million, but a number of challenges remain for regional builders across the U.S.,

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NAHB Chairman's Letter: Regulations Add $93,870 to a New Home’s Price

Pro Builder

NAHB Chairman's Letter: Regulations Add $93,870 to a New Home’s Price. Chuck Fowke NAHB 2021 Chairman. A new study by economists at the National Association of Home Builders (NAHB) highlights the cost of regulation to the residential construction industry. from $84,671 in 2016 during the five-year span between NAHB’s estimates.

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Builders Pull Back Due to Building Material Costs and Labor Issues

Pro Builder

Builders Pull Back Due to Building Material Costs and Labor Issues. Limited availability and rising costs of construction materials are creating a slowdown in housing production. Builder confidence remains solid in spite of supply-side challenges, according to the NAHB/Wells Fargo Housing Market Index (HMI). Building Materials.

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Builder Confidence Fell for the 10th Straight Month in October

Pro Builder

As elevated interest rates continue to price out would-be homebuyers and supply chain disruptions drive up costs for materials, builders are revising their outlooks on single-family home building. High mortgage rates approaching 7% have significantly weakened demand, particularly for first-time and first-generation prospective home buyers.

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Housing Starts Spring Forward in March

Pro Builder

Also, builder confidence remains strong in spite of supply-side challenges, according to the NAHB/Wells Fargo Housing Market Index (HMI). Despite the rising cost for lumber and other building materials, Housing starts for combined single-family and multifamily construction were off to their fastest pace during March since June 2006.

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The Housing Market's Two Biggest Challenges

Pro Builder

Both reasons do have an effect on the market, and NAHB says materials, labor, and land are holding back housing supply. NAHB is forecasting continued economic growth in 2021, resulting in an overall growth rate just below 7% for the year, which would mark the best rate since 1984. Building Materials. Read More. .

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Solutions to Housing Affordability

Pro Builder

within our annual housing forecast survey (see the results on page 17), I got what I deserved from more than 300 of you. There also were calls for the feds to place controls on materials costs, as well as the charmingly hopeful response of “Mutually beneficial regulation” and the simplistic “Get rid of the NIMBYs.”.

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