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.

The intent of this patch program is to build self-esteem and develop skills through curiosity and hand-on activities. 

NAHB reports more than a third (36%) of millennials are now in favor of a larger home and home builders are responding to this trend.

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.

Higher construction costs are hindering new home sales as the cost of lumber, OSB, shingles and other materials rise. 

The National Association of Home Builders (NAHB) urged the Biden administration to increase domestic production of timber from federal lands and to work with Canada on a new softwood lumber agreement that will eliminate tariffs during a virtual White House listening session March 14 on resolving the lumber and building material supply chain crisis.

Demand in many parts of the country has been strong enough to compensate for the rising costs of land, labor and materials, according to NAHB.

With builders continuing to report supply chain problems that are causing construction delays, overall housing starts decreased 4.1%, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

NAHB reports consumers' desire for bigger homes, suburban locations and more outdoor amenities are driving new home design.