Driven by strong buyer demand and the expectation of higher mortgage rates, new home sales ended the year on a strong note, reaching their highest level since March 2021.

The double-digit sales gain in December was likely due to motivated buyers who were seeking to sign sales contracts before interest rates move higher at the start of 2022.

Armstrong Flooring announces its participation in the International Builders Show (IBS) 2022, organized by the National Association of Home Builders (NAHB).

Total housing starts for 2021 were 1.60 million, a 15.6% gain over the 1.38 million total from 2020.

New home sales posted a solid gain last month, driven by strong buyer demand, low existing home inventory and buyers' anticipation of future higher mortgage rates.

The National Association of Home Builders (NAHB) reported that the labor market continues to tighten, especially for the construction industry where 2.2 million more workers are needed to keep up with the booming demand for homes amid the labor shortage.

A lack of skilled construction labor is a key limiting factor to expand home construction and improve housing inventory and affordability, according to The HBI Construction Labor Market Report based on research from the National Association of Home Builders. 

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.

Strong demand and limited inventory of all types of housing are keeping occupancy strong in multifamily properties across the country, NAHB reports. 

Solid demand and ongoing building material supply bottlenecks continue to put upward pressure on new home prices, according to NAHB.