Members of the National Association of Home Builders (NAHB) elected four senior officers to top leadership positions within the federation at the conclusion of this week’s NAHB Winter Leadership Meetings.
Following a brief uptick in new home sizes in 2021, the average size of a new home dropped slightly from 2,525 square feet to 2,480 square feet in 2022, and the percentage of new homes with 3+ full bathrooms and 3+ car garages dipped to 33% and 17%, respectively.
Küberit USA will debut its new integrated process for profile selection, sample acquisiiton, and resources for specification support at this week’s TISE.
Single-family housing starts posted a double-digit percentage gain in December, but production is running well below a rate of 1 million units annually, indicating ongoing weakness in the housing market as high construction costs and elevated interest rates continue to present affordability challenges.
NAHB Chairman Jerry Konter said the rise in builder sentiment means that cycle lows for permits and starts are likely near, and a rebound for home building could be underway later in 2023.
While new home sales received a slight bounce in November from moderating mortgage rates, the housing market continues to struggle because of ongoing supply chain disruptions, elevated construction costs and challenging affordability conditions.
The International Surface Event (TISE) will co-date with DCW, which features the National Association of Home Builders’ (NAHB) International Builders’ Show (IBS) and the National Kitchen & Bath Association’s (NKBA) Kitchen & Bath Industry Show (KBIS), National Hardware Show (NHS) and The Las Vegas Winter Market.
NAHB reports that multifamily units under construction is reaching a near 50-year high, and multifamily permit growth is weakening. Single-family housing starts continued to fall in November.
