New price jumps ‘not especially good news’ for construction
Construction Dive
APRIL 11, 2024
Overall building material costs have now increased in every month of 2024, said Associated Builders and Contractors’ chief economist.
pricing-new 
New-Home Sales Drop as Median Sales Prices Surge to New Highs
Pro Builder
APRIL 27, 2022
New-Home Sales Drop as Median Sales Prices Surge to New Highs. The pace of new-home sales is dipping across the U.S. as the median sale price for a single-family home climbs to a new high and rising mortgage rates drive up monthly payments. New-home sales dropped 8.6% new-home sales decreased 8.6%
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Regulatory Costs Account for 23.8% of New-Home Prices
Pro Builder
MAY 11, 2021
of New-Home Prices. of the total median sales price of a new home, according to a survey by the National Association of Home Builders. Of note, the study on the cost of regulation does not take into effect how rising lumber and other material prices over the past 12 months have raised housing costs. cbroderick.
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Rising Lumber Prices Could Add More Than $18,600 to New Home Value
Pro Builder
JANUARY 5, 2022
Rising Lumber Prices Could Add More Than $18,600 to New Home Value. Ebbing and flowing lumber prices are disrupting housing affordability once again. After months of fluctuating prices, lumber is a hot commodity yet again with a 167% price increase from late August to December 29, 2021, according to NAHBNow.
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Record Prices Are Not Slowing New Home Sales
Pro Builder
SEPTEMBER 28, 2021
Record Prices Are Not Slowing New Home Sales. sales of new homes rose 1.5% The median sales price of new houses sold in August was $390,900, matching July’s figure, which was a record high. The supply of new homes for sale increased between July and August, equating to a 6.1-month New-Home Sales.
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Lumber Prices Fell to New 2022 Low Following Goldman Sachs Housing Forecast
Pro Builder
AUGUST 31, 2022
Lumber Prices Fell to New 2022 Low Following Goldman Sachs Housing Forecast. Lumber prices fell 4% on Tuesday after Goldman Sachs released its updated forecast for home sales in 2022. Lumber prices fell 4% to a new 2022 low on Tuesday as higher mortgage rates speed along a housing downturn. Wed, 08/31/2022 - 11:00.
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No End in Sight—Home Prices Rise to a New Record High
Pro Builder
MARCH 31, 2022
No End in Sight—Home Prices Rise to a New Record High. Relentless home price gains are pushing a growing number of buyers entirely out of the housing market. Home prices are up to yet another record high at the start of the spring buying season, causing some weary homebuyers to throw in the towel altogether, Realtor.com reports.
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The Hottest U.S. Real Estate Markets Are Reporting New Record-High Prices
Pro Builder
MARCH 10, 2022
Real Estate Markets Are Reporting New Record-High Prices. The median list price for the 20 hottest U.S. markets skyrocketed to a new high of $562,000 in February, 43% higher than the national median list price of $392,000, Realtor.com reports. New-Home Sales. Thu, 03/10/2022 - 10:16. Housing Markets.
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Rising Home Prices Mean Higher Loan Limits for the New Year
Pro Builder
DECEMBER 28, 2021
Rising Home Prices Mean Higher Loan Limits for the New Year. Across most housing markets, loan limits for conforming loans acquired by Fannie Mae and Freddie Mac will increase from $548,250 to $647,200 in 2020, a $98,950 increase to account for changes in home prices. Tue, 12/28/2021 - 10:24.
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Rising Lumber Cost Pushes New Home Prices Up $14,000
Pro Builder
AUGUST 21, 2020
Rising Lumber Cost Pushes New Home Prices Up $14,000. Rising softwood lumber prices means rising home prices. NAHB estimates single-family home prices have increased by $14,116 since April 17 due to lumber prices alone. For multifamily homes, prices increased by $5,322. cbroderick.
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Mortgage Rates Hit a New Record as Home Prices Continue to Climb
Pro Builder
FEBRUARY 16, 2022
Mortgage Rates Hit a New Record as Home Prices Continue to Climb. The average contract interest rate for 30-year fixed-rate mortgages just hit a new high, causing another drop in purchase applications and refinance demand. Prospective buyers still face elevated sales prices in addition to higher mortgage rates.
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NAHB Leadership Predicts Lumber Price, New Administration Effects on Housing
Pro Builder
JANUARY 6, 2021
NAHB Leadership Predicts Lumber Price, New Administration Effects on Housing. The National Association of Home Builders’ Chief Economist Robert Dietz sits down with leadership to discuss the potential impacts both building material prices and the new administration may have on the industry. cbroderick.
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Will New Lumber Prices Lower Home Prices?
Pro Builder
JULY 16, 2021
Will New Lumber Prices Lower Home Prices? Now that lumber prices have fallen near pre-pandemic levels, the cost of constructing an average single-family home is now cheaper, but builders likely won’t drop their prices. Realtor.com chatted with KB Home and Lennar to see if either would lower home prices.
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Mortgage Rates Hit New Peak, But Home Prices Show No Sign of Dropping
Pro Builder
JANUARY 14, 2022
Mortgage Rates Hit New Peak, But Home Prices Show No Sign of Dropping. Home buyers have contended with surging prices for nearly two years throughout the COVID-19 pandemic, and rising mortgage interest rates will likely keep relief out of sight in the months ahead. We can expect to see less competition and more price reductions.
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NAHB Chairman's Letter: Regulations Add $93,870 to a New Home’s Price
Pro Builder
JUNE 7, 2021
NAHB Chairman's Letter: Regulations Add $93,870 to a New Home’s Price. A new study by economists at the National Association of Home Builders (NAHB) highlights the cost of regulation to the residential construction industry. Mon, 06/07/2021 - 06:00. How overregulation is exacerbating the nation’s housing affordability crisis.
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Buyers Are Returning to Cities as Prices for Suburban Homes Rise to New Highs
Pro Builder
MAY 18, 2022
Buyers Are Returning to Cities as Prices for Suburban Homes Rise to New Highs. Suburban housing markets are seeing high demand and rapidly rising prices, forcing some buyers to return to nearby metros. Now, as home prices outside of metros creep to new highs, some buyers are returning to urban markets.
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As Softwood Lumber Falls, Concrete Prices Soar to New Highs
Pro Builder
DECEMBER 15, 2022
As Softwood Lumber Falls, Concrete Prices Soar to New Highs. The PPI for ready-mix concrete reached a new high in November after rising for 21 of the past 22 months. Building material prices dropped 0.3% Building material prices dropped 0.3% On the contrary, ready-mix concrete (RMC) prices increased 1.1%
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New Home Sales Hit 14-Year Peak, Builders Raise Prices in Response
Pro Builder
SEPTEMBER 1, 2020
New Home Sales Hit 14-Year Peak, Builders Raise Prices in Response. It has been nearly 14 years since new home sales peaked like they did this past July. According to Bloomberg, purchases of new single-family homes jumped by 13.9% In addition, median selling prices grew by 7.2% The median selling price rose 7.2%
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60% of Households Cannot Afford New Median Priced Home
Pro Builder
MARCH 2, 2021
60% of Households Cannot Afford New Median Priced Home. million, cannot afford a new median priced home, according to new priced out estimates by the National Association of Home Builders. If new median home prices were to increase by another $1,000, it would price out 153,967 more households.
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California Home Prices Jump to New Highs
Pro Builder
JANUARY 3, 2022
California Home Prices Jump to New Highs. Overall home prices in the state of California far outpaced the national average in 2021 with increased demand in smaller metros like Riverside and Sacramento, The New York Times reports. In October, the median sale price of a single-family home in California rose 12.3%
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High Prices Reduce Interest in New Construction
Pro Builder
OCTOBER 28, 2021
High Prices Reduce Interest in New Construction. Why fewer buyers are looking for new homes. The onset of COVID-19 propelled that share up to 42% by the final quarter of 2020, but strong gains in new home prices have driven it down for the last three quarters, reaching 32% in the third quarter of 2021.
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New Listings, House Prices Fall in November as Buyers Back Off
Pro Builder
NOVEMBER 14, 2022
New Listings, House Prices Fall in November as Buyers Back Off. As mortgage rates fluctuate around 7% and a growing number of buyers press pause on home purchases, new listings are posting consecutive monthly declines. New-Home Sales. Mon, 11/14/2022 - 10:30. Market Data + Trends. Market Data + Trends.
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Southern California Home Prices Reach New All-Time High
Pro Builder
JULY 20, 2021
Southern California Home Prices Reach New All-Time High. The cutthroat bidding wars that emerged in 2020 as a new norm have begun to fade, but home prices remain elevated and continue to increase. In Los Angeles County, the median home price rose 23.1% In Orange County, the median home price rose 17.6%
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Condo Prices Surge to New High as Single-Family Alternative
Pro Builder
MARCH 28, 2022
Condo Prices Surge to New High as Single-Family Alternative. Buyers who struck out in the single-family market found relative affordability and less constricted supply in the condo market, but rising demand is pushing prices to new highs. New condo listings were down 6.1% New-Home Sales. New-Home Sales.
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How AI Can Help Construction Firms Get Ahead
Construction Business Owner
DECEMBER 5, 2023
How AI Can Help Construction Firms Get Ahead ccapoccia Tue, 12/05/2023 - 08:53 Despite significant demand for building from both post-pandemic backlogs and new opportunities spurred by federal funding, it’s tough for many firms to take on new work.
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New-Home Sales Take a Hit as Prices Rise
Pro Builder
MAY 26, 2021
New-Home Sales Take a Hit as Prices Rise. Increased building costs, lead times, and unstable supply chains are pushing home prices up and homebuyers out. New-home sales in April dropped 5.9% Lumber prices alone are increasing new construction costs by $36,000 on average, according to NAHB estimates.
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Fewer Buyers Are Looking for New Construction as Prices for Building Materials Rise
Pro Builder
APRIL 21, 2022
Fewer Buyers Are Looking for New Construction as Prices for Building Materials Rise. Inflated prices for building materials are pushing new home construction out of reach for budget-conscious buyers. By the fourth quarter of 2020, 42% of prospective buyers preferred new construction. New-Construction Projects.
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Housing Prices Are Reaching New Highs, but Experts Aren’t Anticipating Another Bubble
Pro Builder
APRIL 1, 2022
Housing Prices Are Reaching New Highs, but Experts Aren’t Anticipating Another Bubble. The average list price rose to a new high across the U.S. The S&P CoreLogic 20-City Home Price Index was up 19.1% Fri, 04/01/2022 - 10:11. The housing sector is very important to the U.S.
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Climate Change Threatens Lumber Production as Prices Reach a New Peak
Pro Builder
JANUARY 20, 2022
Climate Change Threatens Lumber Production as Prices Reach a New Peak. When it comes to lumber prices, the detrimental implications of climate change may outweigh even the heavy hand of the coronavirus. The lumber price story is really a climate-change story,” Stinson Dean, a lumber trader in Colorado, recently tweeted. “The
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New Homes Cost $24,000 More Due to Lumber Prices, Says NAHB
Pro Builder
FEBRUARY 22, 2021
New Homes Cost $24,000 More Due to Lumber Prices, Says NAHB. In April 2020, softwood lumber prices rested at $350 per thousand board feet. While the average price of new single-family homes has increased greatly, the market value of an average new multifamily home increased by $8,998. . cbroderick.
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Housing Supply Falls to New Low While Prices Hit New High
Pro Builder
AUGUST 17, 2020
Housing Supply Falls to New Low While Prices Hit New High. For the third time in four months, the national median home price hit a new all-time high. In July, median home prices increased by 8.2% This price rate growth is on par with levels seen in 2016 and 2018, according to Redfin. cbroderick.
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How New-Home Salespeople Can Talk Rising Prices with Buyers
Pro Builder
MARCH 18, 2021
How New-Home Salespeople Can Talk Rising Prices with Buyers. Hovnanian VP of Sales Chris Hartley shares his advice for new-home salespeople when discussing rising home prices with buyers. Hear his advice for new-home salespeople below. New-Home Sales. New-Home Sales. cbroderick.
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Homeownership Plans Postponed as Prices Reach New Highs
Pro Builder
JANUARY 26, 2022
Homeownership Plans Postponed as Prices Reach New Highs. The second consecutive quarterly decline comes in the wake of higher home prices and low housing supply relative to demand. Wed, 01/26/2022 - 10:14. Weary buyers are struggling to find affordable options in a frenzied market, prompting some to take a home buying hiatus.
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Single-Family Rent Prices Are Surging to New Highs Across the U.S.
Pro Builder
MARCH 12, 2022
Single-Family Rent Prices Are Surging to New Highs Across the U.S. Price gains for rental homes are hitting the double digits in many U.S. year-over-year in January, and cities like Miami, Orlando, and Phoenix are seeing the brunt of the nation’s growth with price increases of 38.6%, 19.9%, and 18.9%, respectively.
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Interest in New Homes Falls, High Prices Likely to Blame
Pro Builder
JULY 28, 2021
Interest in New Homes Falls, High Prices Likely to Blame. Fewer prospective buyers are looking to purchase a newly constructed home, likely a result from ongoing price increases, says the National Association of Home Builders. New-Home Sales. New-Home Sales. cbroderick. Wed, 07/28/2021 - 08:58. Read More. .
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NAHB Leadership Predicts Lumber Price, New Administration Affects on Housing
Pro Builder
JANUARY 6, 2021
NAHB Leadership Predicts Lumber Price, New Administration Affects on Housing. The National Association of Home Builders’ Chief Economist Robert Dietz sits down with fellow leadership to discuss the potential impacts both building material prices and the new administration may have on the industry. cbroderick.
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The Median Home Price Is Up to a New Record High as Inventory Drops
Pro Builder
MARCH 4, 2022
The Median Home Price Is Up to a New Record High as Inventory Drops. Unrelenting price gains are a direct result of low housing supply and heightened competition in nearly every market across the U.S. Intense competition among buyers driven by an extreme shortage of homes for sale is driving prices up unseasonably fast.
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As For-Sale Prices Reach New Highs, Demand for Build-To-Rent Communities Is on the Rise
Pro Builder
DECEMBER 29, 2022
Over the last several decades, 3% of all single-family starts were rentals, and by the third quarter of 2022, that number reached 12%, Realtor.com reports.
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Sonoma County Home Prices Hit New High Due to Bay Area Buyers
Pro Builder
SEPTEMBER 9, 2020
Sonoma County Home Prices Hit New High Due to Bay Area Buyers. Sonoma County, known for its wine region and significantly cheaper home prices, is now seeing home price increases as Silicon Valley workers flood the market. In February, the median home price was $641,250. cbroderick. Wed, 09/09/2020 - 10:10.
Market Posts Double-Digit Growth For Pending Sales, New Listings, Home Prices
Pro Builder
SEPTEMBER 2, 2020
Market Posts Double-Digit Growth For Pending Sales, New Listings, Home Prices. During the four-week period ending August 23, the housing market continued to see positive numbers for both sales and home prices. The number of new listings finally saw growth with a 4.1% cbroderick. Wed, 09/02/2020 - 08:58.
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Unit Price Construction Cost Estimating
Job Order Contracting
APRIL 26, 2022
Unit price construction cost estimating is the foundation of every reliable cost determination prior to procurement. Systems level estimating, historical data, assemblies, or square foot calculations should never be exclusively used to procure a repair, renovation, maintenance, or new build service. for the local market.
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Construction costs surge in April as new tariffs and other trade measures lead to significant increases in materials prices
BD+C
MAY 10, 2018
Association officials said that the new data indicates many firms are already being squeezed by higher materials prices that they are unable to pass along to their customers.
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New Consigli poll tracks subs’ material and labor pricing risks
BD+C
OCTOBER 9, 2020
The contractor Consigli Construction has released its latest breakdown of predictions about materials and labor pricing for 21 categories, based on the firm’s survey of more than 200 subcontractors working in the Northeast.
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Construction materials prices unchanged, signaling ‘stable’ costs ahead
Construction Dive
AUGUST 11, 2023
Relatively flat materials figures in recent months indicate contractors are finally experiencing relief from supply chain woes and price volatility, according to a new report.
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