Over the five months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 483,878. On a year-over-year (YoY) basis, this is a 38.7% increase over the May 2020 level of 348,898. Year-to-date ending in May, single-family permits increased in all four regions. The Northeast region reported the strongest increase of 48.8%, followed by the Midwest (+45.6%),… Read More ›
The NAHB/Royal Building Products Remodeling Market Index (RMI) increased for the second quarter, posting a reading of 87, up 14 points from the second quarter of 2020. The increase in the index is a sign of improving remodelers’ confidence in their markets, for projects of all sizes. The RMI is an average of two major component indices: the Current Conditions… Read More ›
NAHB analysis of the 2020 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 34.4% of the market, while conventional financing dominated the market at 65.6%. In 2019, share of non-conventional financing was 35.0% of the market while conventional financing accounted for 65.0% of the market share. Non-conventional… Read More ›
Framing lumber prices garnered more attention than any other building material over the past year as prices quadrupled between April 2020 and May 2021. But even as lumber prices decline, the spotlight on lumber continues to crowd out the story of meteoric price increases of another wood product integral to the integrity of a building’s structure—oriented strand board (OSB). The… Read More ›
With builders grappling with record-high lumber prices and supply shortages over the past year, why are so few willing to switch away from traditional wood framing methods? A June 2021 survey for the NAHB/Wells Fargo Housing Market Index (HMI) reveals several reasons, but one stands out above the rest.
