Limited existing inventory, which has put a renewed emphasis on new construction, resulted in a solid gain for builder confidence in May even as the industry continues to face several challenges, including building material supply chain disruptions and tightening credit conditions for construction loans.
U.S. households saw homeowners and families embark on a wide variety of renovations and remodeling projects over the past year, according to a joint study from the National Association of Realtors and the National Association of the Remodeling Industry.
More than a third of homeowners want to replace or refinish their flooring, but inflation is impacting their desire to undertake home improvement projects, according to a recent survey by Discover Home Loans.
Thedata indicates greatly diminished pricing power among wholesalers and others, according to Associated Builders and Contractors Chief Economist Anirban Basu.
National nonresidential construction spending increased 0.4% in February, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $982.2 billion for the month.
The share of baby boomers has surpassed millennials and now makes up the largest generation of home buyers, according to the latest study from the National Association of Realtors.
The combination of an unsettled economy and high interest rates is causing investors and property owners to take a closer look at their plans for construction projects, according to AIA Chief Economist Kermit Baker.
Builder sentiment has been edging higher in the early part of 2023 as a significant amount of housing demand exists on the sidelines and resale inventory is limited.
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