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Fed Economist Forecasts Uptick in Single-Family Construction

Pro Builder

Fed Economist Forecasts Uptick in Single-Family Construction. After decades of underbuilding and a recent shift to remote work, Rappaport predicts that national single-family permits could eventually rise to a long-term annual rate of 1.4 NAHB reports. Thu, 10/06/2022 - 10:24.

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Single-Family Starts, Permits Increased in June

Pro Builder

Single-Family Starts, Permits Increased in June. With low interest rates and high interest in homes, the demand for single-family starts and permits rose almost 12% in June. Single-family starts were estimated at a seasonally adjusted annual rate of 831,000 in June by Census/HUD, according to NAHB. cbroderick.

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Builders Pull Back Due to Building Material Costs and Labor Issues

Pro Builder

Builder confidence remains solid in spite of supply-side challenges, according to the NAHB/Wells Fargo Housing Market Index (HMI). The NAHB forecast includes some weakening for single-family home building at the start of 2021 (off recent highs last Fall), with a return to the long-run post-Great Recession trend as the year progresses.

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Supply Chain Bottlenecks, Rising Interest Rates Hinder New Construction

Pro Builder

million units, but elevated mortgage rates, high construction costs, and persistent supply chain bottlenecks continue to strain single-family production, NAHB reports. Single-family permits decreased 3.5% to an 899,000 unit rate in August, while multifamily permits fell 17.9% Overall permits dropped 10% for the month to a 1.52

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Housing Starts Slumped in November Despite Retreating Mortgage Rates

Pro Builder

Mortgage rates fell slightly throughout November, but despite a gradual improvement in housing affordability, new housing starts and building permits posted monthly declines. Much like new housing starts, building permits also suffered a tough blow in November, dropping 11.2% Wed, 12/21/2022 - 10:47. November housing starts fell 0.5%

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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). Also, builder confidence remains strong in spite of supply-side challenges, according to the NAHB/Wells Fargo Housing Market Index (HMI).

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Housing Affordability’s Biggest Threats

Pro Builder

Although the economy is expected to see some recovery this year, labor market improvement will be slow and much of the economy’s rebound is dependent on the vaccine rollout, says NAHB. It is forecast that a stabilization of the economy will come later in 2021 as more deployments of the vaccines will be dispersed between March and September.

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