A bump in construction of new single-family homes last month didn’t help homebuilders feel any better about their business prospects
Homebuilders are an optimistic bunch. They normally purchase land or finished lots, spend thousands on lumber and myriad other materials, and start putting up houses – often before the first customer walks in the door. That’s not the case now, though, and hasn’t been for months.
With construction costs soaring, a large construction industry lobby group is pressuring the Biden administration to take steps to help push lumber costs down.
The ongoing spike in lumber prices is dramatically increasing the cost of new-construction single-family homes and apartments, the National Association of Home Builders reports.
As the market for vacation homes continues to forge ahead at an almost unprecedented pace, the two major suppliers of financing funds have put a lid on the number of mortgages for such properties they will buy from primary lenders.
Severe winter weather in much of the country and spiking lumber prices pushed home construction down a sharp 10.3 percent in February while applications for new construction fell by 10.8 percent.
Homebuilders and remodelers can expect their businesses to grow modestly this year, according to a new estimate by Harvard University housing researchers.
What if builders stripped out the good stuff – cabinetry, doors, windows, bathroom fixtures, hardwood floors – before bulldozing old dwellings? Then those materials could be used in remodeling jobs, incorporated into new construction, or sold.
A new poll by Morning Consult and the National Association of Home Builders has found tour out of five American households believe the nation is suffering a housing affordability crisis and at least 75 percent report this is a problem at the state and local level as well.
The National Association of Home Builders (NAHB) rolled new resources on Tuesday to help residential construction companies address the opioid crisis facing the home building industry.
Massachusetts homeowners paid some of the highest real estate taxes in the country again last year, according to analysis from the National Association of Home Builders.