News
War in Ukraine Adds to Inflation Concerns
The Russian invasion of Ukraine is generating economic impacts for U.S. markets. In the short run, heightened economic uncertainty has reduced long-term interest rates by about 20 basis points,…
Residential Construction Jobs Surpass February 2020 Levels
Construction industry employment (both residential and non-residential) totaled 7.6 million in February. Residential construction gained 31,000 jobs, while non-residential construction added 29,400…
January New Home Sales Lower but Still Solid as Interest Rates Rise
New home sales declined in January on rising interest rates but still posted a steady reading as demand remains strong. Sales of newly built, single-family homes in January fell 4.5% to an 801,000…
Lumber and Paint Lead Building Materials Price Increases in January
The prices of goods used in residential construction ex-energy climbed 3.6% in January (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of…
Building Materials Remain Top Challenge for Builders
Prices for building materials were a significant issue for 96% of builders in 2021, and 91% of the builders expect it to continue being a problem in 2022, according to the NAHB/Wells Fargo Housing…
New Home Sales Post Solid Gain in December
Driven by strong buyer demand and the expectation of higher mortgage rates, new home sales ended the year on a strong note, reaching their highest level since March 2021. Sales of newly built,…
Building High Performance Homes for Today’s Home Buyer
Wellness and green building practices were popular design ideas before COVID-19, but have gained greater traction in the wake of the pandemic as consumers have taken a closer look at their lifestyles…
Home Builder Confidence Edges Lower on Inflation Concerns
Growing inflation concerns and ongoing supply chain disruptions snapped a four-month rise in home builder sentiment even as consumer demand remains robust. Builder confidence in the market for newly…
Domestic Sawmill Output Continues to Lag Home Construction
With an historically low level of overall housing inventory and solid demand because of low mortgage interest rates and favorable demographics, new construction has been unable to add needed supply…