Tag: NAHB
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Homebuilder sentiment rises
Market confidence is positive for the first time in nearly a year. Builder confidence in the market for newly built single-family homes rose five points to 50 in May, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This marks the first time since July 2022 that sentiment levels have… Read More
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The best of the International Builders Show
The 10th annual Design & Construction Week drew its largest crowd yet in 2023, according to the National Association of Homebuilders. The combined event of the International Builders Show (IBS) and the National Kitchen & Bath Association’s (NKBA) Kitchen & Bath Industry Show (KBIS) brought over 200,000 housing industry members out to Las Vegas in… Read More
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Despite Headwinds, Builder Confidence Grows in February
Homebuilder sentiment rose for the second consecutive month, according to the latest report from the National Association of Homebuilders. Builder confidence in the market increased seven points in February to 42 – the second strongest reading since September 2022. This latest report, driven by softening mortgage rates and increasing demand for inventory, comes despite rising… Read More
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Energy Code review, 2023 National Electrical Code, water quality fees
On Aug. 23, Administrative Law Judge Eric Lipman held a virtual hearing on the U.S. Department of Energy’s (DOE) review of the 2021 International Energy Conservation Code (IECC). At this hearing and over the next several weeks, stakeholders weighed in on this review and whether to open Minnesota’s residential energy code for rulemaking. Back in… Read More
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Building material prices climb even as lumber prices fall
Softwood lumber prices continue to fall in 2022, but the drop has yet to offset the price increases from the previous price surges caused by the pandemic supply issues. On top of that, additional building material price increases pushed overall material prices to climb again in August, up nearly 1%. According to the National Association… Read More
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Not all housing markets are the same
As mortgage rates hurdled over 6% in September, the highest level on record since the Great Recession, buyers are starting to become more hesitant during their home search. Many buyers are even being completely priced out of the market. Concerns over rising interest rates, delays in project timelines, rising construction costs, labor shortages and other… Read More
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Builder confidence stumbles as market conditions shift
Market headwinds are taking their toll on builder sentiment. Increasing mortgage rates, labor shortages and continued material challenges are proving to be roadblocks to home construction this summer, and homebuilders are feeling the effects. The National Association of Home Builders’ (NAHB) monthly confidence index reported a nearly record-level drop in sentiment in July. The index… Read More
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Building material costs impacted as demand falls from inflation
The price of construction materials for new homes continues to escalate going into summer. On top of already volatile supply chain effects still lingering from the COVID-19 pandemic, material costs are now starting to be impacted as inflation impacts most sectors of the economy. In 2021, the price of construction-related materials rose 15.9% throughout the… Read More