Builders saw sales decline significantly as buyers were priced out of the market on higher interest rates and ongoing home building and development costs, including building materials, according to NAHB. 

Increased interest rates, building material supply chain bottlenecks and elevated construction costs continue to put a damper on the single-family housing market, according to NAHB.

Slowing sales of existing homes, rising mortgage interest rates, and moderating house price appreciation are expected to dampen owners’ investments in home improvements and maintenance over the coming year.

Builder confidence plunged in July as high inflation and increased interest rates stalled the housing market by dramatically slowing sales and buyer traffic.

Pending home sales crept higher in May, ending a six-month streak of declines, according to the National Association of Realtors.

With projects spanning 40 states and Washington, D.C., Lowe's said it will help restore and revitalize spaces that serve as the hubs and heartbeats of communities.

Sales of newly built, single-family homes in May increased 10.7%, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

Existing-home sales retreated for the fourth consecutive month in May. Month-over-month sales declined in three out of four major U.S. regions, while year-over-year sales slipped in all four regions, according to the National Association of Realtors.

In more than 200 individual meetings with their representatives and senators, builders discussed several key housing issues.

Single-family growth rates have slowed over the past year due primarily to rising construction and building material costs.