article thumbnail

NAHB New Chair to Tackle Regulation and Promote Trades

Pro Builder

NAHB New Chair to Tackle Regulation and Promote Trades. Chuck Fowke named NAHB's new chair; a look at new single-family home inventory. NAHB Housing Policy Briefing. NAHB will work with Congress, the White House, and federal agencies to reduce regulatory barriers and increase housing production.

NAHB 98
article thumbnail

Single-Family Residential Market Faces New Challenges Ahead in 2022

Pro Builder

Single-Family Residential Market Faces New Challenges Ahead in 2022. Both the residential construction industry and the U.S. Although supply constraints have been frustrating, builders understand that continuing low housing inventories and strong demand will continue to drive the industry forward throughout 2022.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How the Skilled Labor Shortage Is Slowing New Home Development

Pro Builder

A national shortage of skilled construction labor is prolonging a housing crisis defined by low inventory and affordability. The NAHB is estimating that 740,000 workers will need to be hired each year for the next three years to keep up with market demand. Residential construction represents about 3.1 million.

article thumbnail

Building Material Costs are Top Concern Despite Builder Confidence

Pro Builder

While low existing home inventory, mortgage rates, and a growing number of prospective buyers keep builder confidence up, building material costs threaten affordability and availability. NAHB says home prices will continue to rise through 2021. Building Material Costs are Top Concern Despite Builder Confidence. cbroderick.

article thumbnail

February Construction Wages Grew at the Fastest Rate in 40 Years

Pro Builder

The construction industry added 60,000 jobs in February and recorded its fastest rate of wage growth in 40 years in an effort to accelerate residential projects and add more affordable housing to a supercharged market, Insider reports. If the homebuilding sector welcomes more workers, it could relieve the housing market of affordability woes.

article thumbnail

Regulatory Costs Increased 44% in 10 Years

Pro Builder

NAHB says regulatory costs are one of the biggest factors limiting housing construction. The estimate of $41,330 in regulatory costs incurred during development is based largely on the “Land Developer Survey on Regulatory Costs” conducted by NAHB in March of 2021. Read More. . Construction. Planning + Development. Economics.

NAHB 98
article thumbnail

Record-High Lumber Prices Stifle Builders and Housing Affordability

Pro Builder

Record-high lumber prices are threatening to halt the residential construction sector, and in turn, hold back the economy. NAHB continues to request assistance from the White House in requesting domestic lumber producers to ramp up production and end tariffs for Canadian lumber shipments. Tue, 02/16/2021 - 09:17.

Housing 66