Shortages of materials are now more widespread than at any at any time since NAHB began tracking the issue on a regular basis in the 1990s in is survey for the NAHB/Wells Fargo Housing Market Index (HMI). In response to special questions on the May 2021 HMI survey, over 90 percent of builders who buy the product in question reported… Read More ›
NAHB analysis of the most recent 2019 American Community Survey (ACS) data reveals that the median age of construction workers is 41, the same as a typical worker in the national labor force. While the residential construction has been adding jobs during the pandemic, access to skilled labor is still a business challenge in 2021. The median age of construction… Read More ›
The historic climb for lumber prices, combined with delays and higher costs for other building materials, is a significant limiting factor for home building in 2021. Despite a historically low level of overall housing inventory and solid demand due to low mortgage interest rates and demographics, new construction has been unable to add additional needed supply to the market, resulting… Read More ›
In March, national home prices continued to rise at a fast — and unsustainable rate — pushed by strong demand and low housing inventory. Home price appreciation accelerated in most metro areas. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 20.0% in March, following… Read More ›
NAHB, along with the major real estate trade associations representing both the commercial and residential real estate sectors, pushed back in identical joint statements to the House Ways and Means Committee and the Senate Finance Committee on tax increases proposed as part of the Biden administration’s push on infrastructure.
