Economics

Skyrocketing Lumber Prices Put Builders in a Bind

Filed in Business Management, Capitol Hill, Economics by on March 27, 2017 2 Comments
Skyrocketing Lumber Prices Put Builders in a Bind

Home builders are increasingly concerned with the now-expired Softwood Lumber Agreement. The uncertainty surrounding a new trade agreement is impacting businesses on both sides of the border, as it was the primary culprit behind the surging lumber prices so far this year.

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New Home Sales Up 6.1% in February

Filed in Economics, Home Building by on March 23, 2017 0 Comments
New Home Sales Up 6.1% in February

Sales of newly built, single-family homes continued to expand, rising 6.1% in February to a seasonally adjusted annual rate of 592,000 units, according to newly released data from HUD and the Census Bureau.

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Single-Family Housing Starts Highest Since Late 2007

Filed in Economics by on March 16, 2017 0 Comments

Nationwide housing starts rose 3% in February from an upwardly revised January reading to a seasonally adjusted annual rate of 1.288 million units, according to newly released data from HUD and the Commerce Department.

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Building Materials Prices Rise in February

Filed in Economics by on March 15, 2017 2 Comments
Building Materials Prices Rise in February

The cost of building homes is going up.

The latest Producer Price Index release by the Bureau of Labor Statistics shows that prices of softwood lumber, gypsum, ready-mix concrete and OSB all rose in February. The increases were led by gypsum products, with softwood lumber a close second.

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Builder Confidence at a 12-Year High

Filed in Economics by on March 15, 2017 1 Comment
Builder Confidence at a 12-Year High

Builder confidence in the market for newly-built single-family homes jumped six points to 71 on the NAHB/Wells Fargo Housing Market Index, the highest reading since June 2005.

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2 Non-Political Reasons to Remember 2016

Filed in Economics, Homeownership, Housing Trends by on February 28, 2017 0 Comments
2 Non-Political Reasons to Remember 2016

Compared to 2015 totals, townhouse construction increased 12%, and custom single-family homes grew 8% in 2016 to a post-recession high. Much of this is due to an easing of credit standards and the return of more first-time home buyers. But in 2017, many of the same challenges will persist.

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New Home Sales Start Year on Positive Note

Filed in Economics by on February 24, 2017 0 Comments
New Home Sales Start Year on Positive Note

Sales of newly built, single-family homes rose 3.7% in January to a seasonally adjusted annual rate of 555,000 units, according to newly released data by HUD and the U.S. Census Bureau.

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Have Gypsum Prices Found a New Normal?

Filed in Economics by on February 24, 2017 0 Comments
Have Gypsum Prices Found a New Normal?

The long-term trend in gypsum prices appear to have moderated following steep price hikes at the beginning of 2012, 2013 and 2014.

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Multifamily Market Keeps Momentum Going in 4th Quarter

Filed in Councils & Committees, Economics, Multifamily by on February 23, 2017 0 Comments
Multifamily Market Keeps Momentum Going in 4th Quarter

NAHB’s Multifamily Production Index (MPI) posted a gain of two points to 55 in the fourth quarter of 2016. The MPI has been at 50 or above for five straight years.

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Housing Affordability Remains Favorable Even at 8-Year Low

Filed in Economics, Home Building by on February 16, 2017 0 Comments
Housing Affordability Remains Favorable Even at 8-Year Low

Shortages of buildable lots and skilled labor, excessive regulations, rising mortgage interest rates and ongoing home price appreciation pushed housing affordability in the fourth quarter of 2016 to its lowest point since the third quarter of 2008, according to the NAHB/Wells Fargo Housing Opportunity Index. released this morning.

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