Articles Tagged with ''NAHB''

Homebuilder confidence rises slightly, but cost concerns threaten future growth

Builder sentiment inches forward one point to 65 in July
Although homebuilder confidence inched forward one point to 65 in July, many builders still report rising construction costs as a major cause of concern, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chief Economist Robert Dietz said while the current low mortgage interest rate environment should be getting more buyers off the sidelines, they remain hesitant due to affordability concerns.
Read More

Redfin: A lack of housing supply is slowing home-sale growth

In May, home sales rose only 2.5% from the previous year
In May, home-sale growth continued to lag, highlighting a slowdown in inventory, according to new data from Redfin. Redfin Chief Economist Daryl Fairweather said although recent surges in mortgage applications reflect heightened homebuyer demand, a lack of inventory continues to prevent growth.
Read More

Homebuilder confidence weakens as cost concerns mount

Builder sentiment slides two points to 64 in June
As cost and labor concerns continue to grow, homebuilder confidence retreated to 64 points in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chairman Greg Ugalde said while demand for single-family homes remains sound, builders continue to report rising development and construction costs, with some additional concerns over trade issues.
Read More

Calabria calls on cities to deregulate to spur more home building

FHFA Director: The most burdensome regulations come from local governments
There are many factors leading to the slowing pace of home building, but one big reason is local regulations and the costs associated with them, at least according to home builders. And now, builders have a substantial new ally in their fight against local regulations, as FHFA Director Mark Calabria said Monday that municipalities need to begin cutting regulations in order to generate more home building.
Read More

April’s construction spending drops 1.2% from last year

Residential construction spending falls 0.6% from the previous month
The U.S. Census Bureau announced that construction spending during April 2019 was estimated at a seasonally adjusted annual rate of $1.3 trillion. Although April’s rate is nearly the same as March’s, the organization revealed April’s spending is 1.2% below the April 2018 estimate.
Read More

Priced out of the housing market, more Americans move to the "exurbs"

Why some say this is cause for concern
Welcome to the exurbs: remote areas just beyond the more affluent suburbs that have seen a wave of activity from builders and home shoppers. According to a recent NAHB report, the exurbs were the only regions to see an increase in single-family permits in Q1 – a fact that some analysts say is raising red flags.
Read More

Hey, Mr. President, what about removing lumber tariffs to make homes affordable?

Tariffs on Canadian lumber add $9,000 to the price of a new house, NAHB said
Canadian softwood lumber used to build U.S. homes currently carry tariffs of about 20%. That adds $9,000 to the price of a typical new home and more than $3,000 to the cost of a multifamily unit, NAHB said. At a time when all eyes are on U.S. housing affordability issues, the trade dispute with Canada is "needlessly driving up housing costs," Greg Ugalde, chairman of NAHB, said in a statement.
Read More

[Pulse] Here's how higher regulatory costs are impeding housing affordability

Regulatory burdens are driving up costs, and it's a problem for the housing market
Despite recent declines in mortgage interest rates, housing affordability continues to be a key concern for homebuyers. Studies show that regulatory burdens significantly elevate the cost of land development and construction, driving up costs that are passed on to the homebuyer. If we as a nation want to ease housing affordability barriers, communities should begin by reducing the regulatory burdens associated with developing land and building homes.
Read More