• 2021 U.S. Population Growth Lowest on Record January 21, 2022
    According to the U.S. Census Bureau, the of the United States increased by 393,000 to an estimated 332 million from the previous year. In 2021, the estimated population growth rate of 0.12 percent was the lowest since the Bureau began collecting this data beginning in 1900. Per Census estimates, slower population growth in 2021 was […]
    Litic Murali
  • Existing Home Sales Strongest Since 2006 Despite Supply Limits January 20, 2022
    Fueled by low mortgage interest rates and strong demand, annual existing home sales reached 15-year high in 2021, according to the National Association of Realtors (NAR). However, supply has continued to lag due to ongoing supply-chain disruptions and inventory fell to lowest level since January 1999, keeping home prices elevated and pricing out first-time and […]
    Fan-Yu Kuo
  • Remodeler Sentiment Continues to Improve Year-over-Year January 20, 2022
    The NAHB/Royal Building Products Remodeling Market Index (RMI) for the fourth quarter posted a reading of 83, up four points from the fourth quarter of 2020.  The reading is a sign of positive residential remodeler sentiment for projects of all sizes. The RMI is based on a survey that asks remodelers to rate various aspects of […]
    Paul Emrath
  • Housing Starts End 2021 with Annual Gains January 19, 2022
    Home building ended 2021 with strong annual gains as demand accelerated in the wake of the pandemic. These annual gains were realized despite supply-chain limitations for materials and ongoing access issues for labor and lots. Single-family starts ended 2021 with a 13.4% increase for a total of 1.123 million starts. Multifamily 5+ unit construction ended […]
    Robert Dietz
  • Builder Confidence Edges Lower on Inflation Concerns January 18, 2022
    Growing inflation concerns and ongoing supply chain disruptions snapped a four-month rise in builder sentiment even as consumer demand remains robust. Builder confidence in the market for newly built single-family homes moved one point lower to 83 in January, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The HMI […]
    Robert Dietz
  • November Single-Family Permit Gains January 18, 2022
    Over the first eleven months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 1,029,208. On a year-over-year (YoY) basis, this is a 15.9% increase over the November 2020 level of 888,217. Year-to-date ending in November, single-family permits increased in all four regions. Southern region reported the strongest increase of 17.6%, […]
    Danushka Nanayakkara-Skillington
  • Mortgage Rates Jump January 14, 2022
    The latest Mortgage Bankers Association’s (MBA) weekly application surveys shows a decline for refinancing and an increase in mortgage purchasing. The 30-year fixed-rate mortgage rate increased, averaging close to 3.4 percent for the month and was 3.52 percent in the latest week, the week ending January 7th. In the latest week, total mortgage applications, as […]
    Litic Murali
  • Building Materials Prices Increase 1.5% in December, Lumber Volatility at 75-Year High January 14, 2022
    The prices of goods used in residential construction ex-energy climbed 1.5% in December (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The index was driven higher by large price increases for wood products. Building materials prices increased 15.9% in 2021 and have risen 18.6% since December […]
    David Logan
  • Inflation Hits 39-Year High January 12, 2022
    Led by higher prices for shelter and used vehicles, consumer prices soared by 7.0% in December from a year ago. It was the largest year-over-year gain since June 1982. However, energy prices fell in December, ending a long series of increases. Supply-chain constraints and strong consumer demand related to the pandemic and the reopening of […]
    Fan-Yu Kuo
  • 2020 ACS Experimental Data: A Note for Home Building Researchers January 11, 2022
    Researchers in the home building industry should be aware that the Census Bureau released experimental estimates from the 1-year ACS data for 2020 instead of the standard 1-year 2020 estimates. This change is due to the disruption of data collection operations by the coronavirus pandemic in 2020, affecting the quality of these estimates. The Census […]
    Na Zhao