Articles Tagged with ''housing market''

Existing-home sales retreated for the fourth consecutive month in May. Month-over-month sales declined in three out of four major U.S. regions, while year-over-year sales slipped in all four regions, according to the National Association of Realtors.

Rising interest rates and ongoing building material supply chain disruptions that raise construction costs continue to act as significant headwinds on the housing market.

According to a new report by the Harvard Joint Center for Housing Studies, the surge in the prices of gas, food, and other necessities are affecting housing affordability, especially now that most pandemic emergency government supports have ended.

Single-family growth rates have slowed over the past year due primarily to rising construction and building material costs. 

Existing-home sales recorded a third straight month of declines, slipping slightly in April, according to the National Association of Realtors. 

New home sales posted a double-digit percentage decline in April, falling to their weakest pace in two years.

Strong demand is still keeping multifamily developers fairly optimistic in many parts of the country, but high construction costs and their impact on affordability are making some developers increasingly cautious, NAHB said. 

Builder confidence took a steep drop in May as growing affordability challenges in the form of rapidly rising interest rates.

Home builders warn of current deteriorating conditions as a sharp jump in mortgage rates in March and April coupled with ongoing building material supply chain disruptions, labor shortages and high inflation drive up housing costs.

Mapei Corporation and Black Buffalo 3D have partnered to create the world's first 3D construction material that is undergoing testing to meet the only building code in the world for 3D printed walls, the ICC-ES AC509.