Rising material costs led by a huge upsurge in lumber prices along with a resurgence of the coronavirus across much of the nation pushed builder confidence in the market for newly built single-family homes down three points to 83 in January, according to the latest NAHB/Wells Fargo Housing Market Index.
The National Association of Home Builders is encouraging members, and all residential construction companies, to halt work for at least 10 minutes the week of Jan. 11-15 for a COVID-19 Jobsite Safety Stand Down to remind workers what they should do to keep themselves safe from coronavirus and to help reduce its spread.
This online alternative of IBS, a business-building event in residential construction, will showcase the most innovative new products, offer live and semi-live interactive education sessions with on-demand recordings, feature creative networking opportunities such as live chat and one-on-one meeting requests, and much more.
Single-family starts flattened in November as builders struggled to meet demand, while overall housing starts increased 1.2 percent to a seasonally adjusted annual rate of 1.55 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Ending a string of three successive months of record highs, builder confidence in the market for newly built single-family homes fell four points to 86 in December, according to the latest NAHB/Wells Fargo Housing Market Index.
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 lowered duties on Canadian lumber shipments into the United States.
A trend of higher demand for housing in lower-density areas reported in the second quarter National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) has persisted into the fall, as single-family and multifamily construction continued to overperform in lower cost markets like suburbs and exurbs.
Sales of newly built, single-family homes in October dipped 0.3 percent to 999,000 from an upwardly revised September number, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Led by solid gains in single-family production, overall housing starts increased 4.9 percent in October to a seasonally adjusted annual rate of 1.53 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
