Economics

Residential Construction: Net Job Gains Offset Losses from the Pandemic

Filed in Economics, Labor, Trends by on January 11, 2021 1 Comment
Residential Construction: Net Job Gains Offset Losses from the Pandemic

From May through December, the number of new residential construction jobs that were created offset the total amount of jobs that were lost earlier in 2020 due to the COVID-19 pandemic.

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2 Critical Threats to Housing Affordability in 2021

Filed in Economics, Housing Affordability, Trade by on January 8, 2021 2 Comments
2 Critical Threats to Housing Affordability in 2021

Housing demand remains robust and inventories are lean. However, home price growth and rising construction costs threaten housing affordability heading into 2021.

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Podcast: NAHB Chief Economist Delivers 2021 Forecast

Filed in Advocacy, Economics by on January 5, 2021 1 Comment
Podcast: NAHB Chief Economist Delivers 2021 Forecast

On the latest episode of NAHB’s Housing Developments podcast, CEO Jerry Howard and Chief Lobbyist Jim Tobin ask NAHB Chief Economist Rob Dietz to provide his review of 2020 and 2021 forecast.

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Affordability and Lack of Supply Put a Dent in New Home Sales

Filed in Economics by on December 23, 2020 3 Comments
Affordability and Lack of Supply Put a Dent in New Home Sales

New home sales dipped in November, but remained at a solid level as builders struggled to meet demand and gain access to building materials.

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Key Housing Provisions in $900 Billion Relief Bill Passed by Congress

Filed in Advocacy, Disaster Response, Tax Reform by on December 21, 2020 5 Comments
Key Housing Provisions in $900 Billion Relief Bill Passed by Congress

A $900 billion economic relief package approved by the House and Senate tonight includes key provisions that NAHB championed. The bill provides small businesses relief from burdensome loan forgiveness requirements, helps struggling renters and owners with dedicated rental assistance, strengthens the Low-Income Housing Tax Credit and assists HBAs that have largely been excluded from previous relief measures.

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Housing’s Outlook for 2021

Filed in Economics by on December 18, 2020 3 Comments
Housing’s Outlook for 2021

Supply-side pressures, such as resurgent lumber prices, limited lot supplies, supply-chain issues, and a persistent skilled labor deficit foreshadow higher costs and longer build times heading into next year.

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Single-Family Starts Leveling Off at Strong Pace in November

Filed in Economics by on December 17, 2020 3 Comments
Single-Family Starts Leveling Off at Strong Pace in November

Single-family starts flattened in November as builders struggled to meet demand, while overall housing starts increased 1.2% to a seasonally adjusted annual rate of 1.55 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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Builder Confidence Down from Record High, Still Strong

Filed in Economics by on December 16, 2020 7 Comments
Builder Confidence Down from Record High, Still Strong

Ending a string of three successive months of record highs, builder confidence in the market for newly built single-family homes fell four points to 86 in December, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released today. Despite the decline, this is still the second-highest reading in the history of the series after last month’s mark of 90.

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Multifamily Construction Shifts to Lower-Density Markets

Filed in Economics, Multifamily by on December 14, 2020 0 Comments
Multifamily Construction Shifts to Lower-Density Markets

Housing demand for not only single-family homes, but multifamily developments as well, continued to shift to lower-density, more affordable markets in the third quarter of 2020, according to data from the latest NAHB Homebuilding Geography Index (HBGI).

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Where Are the Largest Homes Built?

Filed in Economics, Trends by on December 9, 2020 0 Comments
Where Are the Largest Homes Built?

The pre-COVID-19 trend of declining home size has been universal across U.S. regions, according to NAHB’s analysis of the 2019 Survey of Construction data. Nevertheless, regional differences in new home sizes exist, with some of the largest single-family spec homes built in the Middle Atlantic and some of the largest custom homes built by contractors in the Mountain division.

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