Posts by growthzone

U.S. Lot Values Trail Inflation in Most Regions Lot values for single-family detached (SFD) spec homes continued to rise in 2022, according to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, with the U.S. median lot value at $56,000 for SFD for-sale homes started in 2022. Even though lot values continued to…

Why Nominate an Associate for NAHB’s 2023 Leadership Grant? NAHB will once again honor select Associate members with a grant of $1,500 to use toward their travel expenses to attend the International Builders’ Show (IBS) in Las Vegas. Attending IBS will give these Associates the unique opportunity to learn from the industry’s best, discuss findings in breakout…

A Behind-the-Scenes Look at our 2023 Golf Classic video created by Timberworks Studio

High Mortgage Rates Continue to Weaken Builder Confidence Persistently high mortgage rates above 7% continue to erode builder confidence, as sentiment levels have dropped below the key break-even measure of 50 for the first time in five months. Builder confidence in the market for newly built single-family homes in September fell five points to 45,…

New Home Sales Increase in July Despite Higher Mortgage Rates Low existing inventory and solid demand more than offset rising mortgage rates and elevated construction costs to boost new home sales last month. Sales of newly built, single-family homes in July increased 4.4% to a 714,000 seasonally adjusted annual rate from a downwardly revised reading…

Single-Family Starts Edge Higher in July but Rising Rate Concerns Persist A lack of existing inventory and solid demand helped offset rising mortgage rates and push single-family production higher in July, even as builders continue to grapple with elevated construction and financing costs as well as a lack of skilled labor. Overall housing starts increased…

Increasing Housing Supply Critical for Fed’s Fight on Inflation With shelter inflation accounting for a staggering 90% of the overall inflation rate last month, the National Association of Home Builders (NAHB) is calling on policymakers at all levels of government to take actions that will help boost the nation’s housing supply in order to ease…

Construction Job Openings Rise, But Long-Run Trend is Declining The count of open, unfilled jobs for the overall economy moved lower in May, falling to 9.8 million. While ongoing tight labor market conditions have likely confirmed one to two more Fed rate hikes through the start of the Fall, the JOLTS survey is another data…

Congress Completes Busy Week on Housing Appropriations The Senate Appropriations Committee today approved its Transportation, Housing and Urban Development, and Related Agencies fiscal year 2024 funding bill, and the measure includes $70.06 billion for HUD. Of particular note, the Senate bill includes $1.5 billion to sustain robust funding for the HOME Investment Partnership Program, the…

New HBI Report Shines Spotlight on Labor Shortages The lack of skilled construction labor is a key limiting factor to expanding home construction and improving housing inventory and affordability. The latest Construction Labor Market Report from the Home Builders Institute (HBI), provides an outlook for residential construction employment and includes state-level employment data. Key findings in the report include:…