Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability.
Business remains strong for most remodelers at the beginning of 2022,, however, a few are starting to report that customers are reluctant to move forward on projects due to the delays and higher costs caused by supply chain problems.
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.