Per the Mortgage Bankers Association’s (MBA) survey through the week ending September 9th, total mortgage activity declined 1.2% and the average 30-year fixed-rate mortgage (FRM) rate rose seven basis points to 6.01%. The FRM rate has increased 56 bps over the past month reaching a…
According to the annual data from the Census Bureau’s Survey of Construction (SOC), the share of new homes started with 5,000 square feet or more of living space stood at 2.90 percent in 2021, up from 2.50 percent in 2020. A total of 33,000 5,000+ square-foot homes…
The prices of building materials rose 0.5% in August (not seasonally adjusted) even as softwood lumber prices decreased 5.2%, according to the latest Producer Price Index (PPI) report. Building materials prices have climbed 4.9% through the first eight months of 2022 and 14.3% over the…
Consumer prices eased in August for the second-straight month as declines in energy prices offset increases in food and shelter indexes. Despite this slight improvement, inflation remains above an 8% year-over-year rate for the sixth straight month. The food index recorded its largest annual gain…
The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering jobs lost earlier during the pandemic induced recession. Currently, women make up 11% of the construction workforce, up from 9.3% in 2002….
Lot values for single-family detached housing starts in 2021 increased across the nation, with the national value and six out of nine Census division values setting new records. U.S. median lot price now stands at $55,000, according to NAHB’s analysis of the Census Bureau’s Survey…
Of the roughly 1,127,000 single-family and 474,000 multifamily homes started in 2020, 37,000 (15,000 single-family and 22,000 multifamily) were built in age-restricted communities, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by…
