Higher mortgage rates and construction costs pushed new home sales lower in February even as demand remains solid due to a lack of existing home inventory.
The Career Connections grant program is designed to support local events introducing young people to career opportunities in the residential skilled trades.
The combined share of younger millennial (23 to 31 years old) and older millennial buyers (32 to 41 years old) rose to 43% in 2021, up from 37% the year prior.
The February pace for apartment construction was the best since January 2020 and NAHB said the multifamily sector should to continue to show strength as the economy reopens.
A new study from the National Association of Realtors – Housing Wealth Gains for the Rising Middle-Class Markets – examines the distribution of housing wealth between 2010 and 2020 across income groups and in 917 metropolitan or micropolitan areas.
New findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) show that the rate of year-over-year single-family growth in all small and large metro urban, suburban and rural regional submarkets peaked in the second quarter of 2021. In contrast, multifamily growth in all of these markets has been surging since the second quarter as some housing demand returned back to higher density markets.
The pandemic has made people rethink how they live in their homes, and that’s reflected in the creative niches, attention to detail and quality, and general warmth.
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.
