Tag: National Association of Home Builders
2024 Best of IBS finalists announced
With over 230+ applications in nine categories, 36 industry and media judges considered the products' innovation, functionality, design and builder/consumer friendliness to make this list.
Single-family starts down in December but post solid showing
According to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau  overall housing starts fell 4.3% in December.
Fed pivots, housing starts surge
Mortgage rates have retreated below 7% for the first time since the middle of August.
Builder sentiment rises on falling interest rates
The housing market appears to have passed peak mortgage rates for this cycle, and this should help to spur home buyer demand in the coming months.
Existing home sales slide to a new 13-year low amid high mortgage rates
Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, fell 4.1% to a seasonally adjusted annual rate of 3.79 million in October. On a year-over-year basis, sales were 14.6% lower than a year ago.
Inflation cools while shelter costs remain high
Despite the slowdown, shelter costs continue to be a key driver of inflation, accounting for over 70% of the total increase in all items excluding food and energy.
Builders and lenders agree: credit is tightening
In the third quarter, both the NAHB and Fed indices were negative, indicating that builders and lenders were once again in agreement that credit was, on net, tightening.Â
Rising mortgage rates push housing affordability to historic lows
Just 37.4% of new and existing homes sold between the beginning of July and end of September were affordable to families earning the U.S. median income of $96,300.
Square foot prices more than double inflation in 2022
Median contract prices per square foot of floor area went up across all US regions, reflecting fast rising construction and labor costs that pummeled home building in the post-pandemic environment.
Porches on new homes as popular as ever, says NAHB survey
Of the roughly one million single-family homes started in 2022, the SOC data show that 66.4% came with porches. This is the highest the share has been since the re-design of the SOC in 2005.