Articles Tagged with ''NAHB''

Homebuilder confidence falls as affordability concerns grow

Interest rates, home prices hindering builder optimism
Affordability concerns contributed to homebuilder confidence falling eight points to 60 in November, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chief Economist Robert Dietz said for the past several years, shortages of labor and lots along with rising regulatory costs have led to a slow recovery in single-family construction.
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Homebuilder confidence increases slightly in October

Declining material costs and strong economy contribute to gain
Homebuilder confidence rose one point to 68 in October, according to the National Association of Home Builders/Wells Fargo Housing Market Index. "Builders are motivated by solid housing demand, fueled by a growing economy and a generational low for unemployment," NAHB Chairman Randy Noel said.
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CNBC: Chinese tariffs are going to make your home renovations more expensive

NAHB claims there could be a $2.5 billion tax increase on the industry
This year, the National Association of Home Builders’ Remodeling Market Index revealed that in the fourth quarter of 2017, the RMI reached 60 for the second time since 2001. Although the increasing demand for home renovation has carried over to 2018, recently imposed tariffs are expected to reduce home renovation affordability.
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Home builders group: New tariffs on Chinese goods are a tax on housing

New tariffs are slated to affect materials related to housing construction
New tariffs against China could add $1 billion in costs to goods involved with housing construction. According to CNBC’s Realty Check, the NAHB estimates that of the 6,000 goods under the umbrella of the latest round of tariffs, roughly 600 products, representing $10 billion in goods, are related to the construction of new apartments and homes.
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Construction spending increases 0.1% in July

July 2018 is 5.8% above July 2017
The U.S. Census Bureau of the Department of Commerce announced that construction spending during July 2018 was estimated at a seasonally adjusted annual rate of $1.32 billion, 0.1% above the revised June estimate of $1.31 billion.
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NIMBYism is depressing multifamily developers

“Not In My Backyard” is keeping some developers from building
Multifamily developers’ confidence in the health of the market fell over the last few months, thanks to a combination of factors, including the threat of rising construction costs due to tariffs and NIMBYism standing in the way of new multifamily developments getting off the ground.
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Housing starts ticked up in July

Single-family housing starts climbed to 862,000 in July
Housing starts slightly increased a bit in July, according to the latest report from the U.S. Census Bureau. PricewaterhouseCoopers Principal Scott Volling said that homebuilders are being affected by a slight increase in inventory.
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Housing stock age shows desperate need for new construction

Average age increases over past decade
Aging housing stock tells the tale of a construction industry that continues to fall behind in the number of new homes built each year. NAHB explained the aging trend is due primarily to the slight increases in residential construction over the past decade, and it’s giving rise to a new trend in the construction industry.
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