Prices of construction materials jumped more than 20 percent from January 2021 to January 2022, according to an analysis of government data by the Associated General Contractors of America.
The Federal Housing Administration (FHA) announced new loan limits for calendar year 2022 for its Single Family Title II forward and Home Equity Conversion (reverse) Mortgage (HECM) insurance programs.
Chuck Fowke, chairman of the National Association of Home Builders and a custom home builder from Tampa, Florida, issued a statement after the Commerce Department increased duties on Canadian lumber shipments into the United States.
Motivated by fast-rising rents and the anticipated increase in mortgage rates, consumers that are on strong financial footing are signing contracts to purchase a home sooner rather than later.
Testifying before the House Small Business Subcommittee on Oversight, Investigations, and Regulations, NAHB Chairman Chuck Fowke told lawmakers that disruptions in the building materials supply chain are having a disproportionate impact on smaller home building firms.