All hail the happy home owner: the No. 1 referral source for home builders and remodelers. Companies that forget to keep that top of mind are companies that are in for a bumpy ride, as explained during an education session at the 2017 International Builders’ Show.
Although employment and home price levels have returned to or exceeded normal, home construction during the fourth quarter of 2016 remained tepid in many markets due to regulatory and supply-side constraints.
In celebration of NAHB’s 75th Anniversary, we are crossing the country and connecting with families who live in the homes our members build. Throughout the year, we’ll be sharing their stories and encouraging consumers to find out how they can start building their own American Dream.
Builder confidence in the single-family 55+ housing market remained strong in the fourth quarter of 2016 with a reading of 67, up eight points from the previous quarter, according to the NAHB 55+ Housing Market Index, released today. This is the highest reading since the inception of the index in 2008.
Results from NAHB surveys of home buyers and home builders show that buyers have a strong preference for open floorplans, and that most builders are doing their best to create those open spaces for their clients. There are, however, some differences between what buyers are seeking and what builders are delivering.
More than four out of five builders expect to face serious challenges regarding the cost and availability of labor in 2017, according to a recent survey of members that ran in the monthly NAHB/Wells Fargo Housing Market Index.
A surge in multifamily production resulted in overall nationwide housing starts rising 11.3% to a seasonally adjusted annual rate of 1.23 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Single-family starts dropped 4% to a seasonally adjusted annual rate of 795,000 units.