Trends
Housing Starts Increase in June but Supply-Side Issues Linger
Overall housing starts increased 6.3% in June to a seasonally adjusted annual rate of 1.64 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Despite the increase in housing production, there is concern over weakening permit numbers for both the single-family and multifamily markets.
Builder Confidence Edges Lower as Material Challenges Persist
Strong buyer demand helped to offset supply-side challenges relating to building materials, regulation and labor as builder confidence in the market for newly built single-family homes inched down one point to 80 in July, according to the NAHB/Wells Fargo Housing Market Index (HMI) released today.
Gas vs. Electricity: Which Energy Source Do Consumers Prefer?
Consumers have several factors to consider when building a high-performance home, including which type of energy source, or fuel type, they want to select.
Generations Cite Their Must-Have Kitchen and Bath Features
Home buyer preferences for kitchen and bath features can vary significantly by generations, according to survey results from NAHB’s recent study, What Home Buyers Really Want, 2021 Edition.
New Home Prices Squeeze Buyers Out of the Low End
New data released by the U.S. Census Bureau and the Department of Housing and Urban Development, combined with recent NAHB survey data, show that home buyers in the bottom one-fourth of the market have been squeezed entirely out of the market for new construction due to a mismatch between actual prices of new homes and prices that buyers expect to pay.
The Top Kitchen and Bath Features that Buyers Crave
NAHB’s recent study, What Home Buyers Really Want, 2021 Edition, reveals the key kitchen and bathroom amenities that home buyers cannot live without.
Rising Material Challenges, Declining Builder Sentiment
Home builder confidence dipped to its lowest level since August 2020 on rising material prices and supply chain shortages, according to the latest NAHB/Wells Fargo Housing Market Index (HMI).
Record Number of Builders Report Material Shortages
Shortages of materials are now more widespread than at any at any time since NAHB began tracking the issue in the 1990s, with more than 90% of builders reporting shortages of appliances, framing lumber and OSB.
Home Building at Fastest Pace in Areas with Shortest Commute Times
Home building across the nation expanded the fastest in places with the shortest commute times, according to the quarterly NAHB Home Building Geography Index (HBGI) released today. The HBGI also shows the suburban shift in new home construction to low density, low cost markets stemming largely from the COVID-19 pandemic and first reported in the second quarter of 2020 continued into 2021.
Construction Self-Employment Rates at Record Low
The current construction self-employment rate is now the lowest on record, according to the 2019 American Community Survey. Today, 22% (2.4 million) of construction workers are self-employed, down from a record high of more than 26% in 2010.
