Strong demand is still keeping multifamily developers fairly optimistic in many parts of the country, but high construction costs and their impact on affordability are making some developers increasingly cautious, NAHB said.
Home builders warn of current deteriorating conditions as a sharp jump in mortgage rates in March and April coupled with ongoing building material supply chain disruptions, labor shortages and high inflation drive up housing costs.
Mapei Corporation and Black Buffalo 3D have partnered to create the world's first 3D construction material that is undergoing testing to meet the only building code in the world for 3D printed walls, the ICC-ES AC509.
households are seeing real income decline as inflation climbs and stimulus payments recede. The forecast predicts U.S. real disposable income to decline by 3.5% in 2022 after climbing 2.2% in 2021.
The single-family housing market continued to show signs of softening in March as permits and starts declined due to rising mortgage interest rates and ongoing supply chain bottlenecks.
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.
Supported by gains in the U.S. construction and housing markets and robust overall economic growth, U.S. ceramic tile consumption increased for the first time since 2018.
