Articles Tagged with ''National Association of Home Builders (NAHB)''

Despite a 4.7% drop in August new home sales, the housing market shows resilience with year-to-date sales up 4%.

Single-family starts posted a solid gain in August on robust demand and moderating mortgage rates even as builders continue to grapple with challenges related to lot and labor shortages and elevated prices for many building materials.

The National Association of Home Builders (NAHB) officially opened online registration and housing today for the 2025 NAHB International Builders’ Show (IBS), the largest annual light construction trade show in the world.

NAHB Chief Economist Robert Dietz said buyer interest and builder sentiment should improve in the months ahead. 

High interest rates for construction and development loans as well as ongoing challenges regarding labor shortages and higher prices for many building materials continued to slow the building market this summer.

Mortgage rates that averaged 7.06% in May per Freddie Mac, the highest monthly average since last November, put a damper on new home sales last month.

Persistently high mortgage rates are keeping many prospective buyers on the sidelines, and home builders are also dealing with higher rates for construction and development loans, chronic labor shortages and a dearth of buildable lots.

While single-family construction expanded in the first quarter despite higher mortgage rates, multifamily construction for 2024 is experiencing a notable slowdown primarily because financing conditions.

Confidence in the market for new multifamily housing declined year-over-year in the first quarter of 2024, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB). 

Sales of newly built, single-family homes in February edged 0.3% lower to a 662,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.