article thumbnail

Advice for Home Builders Navigating a Market in Flux

Pro Builder

Here are two main reasons why: A housing shortage: The Great Recession and the weak recovery during the last decade are responsible for creating an estimated housing shortage of approximately 3.5 Private builders are currently experiencing 40% to 50% declines in traffic and sales, and inventories are 21.3%

article thumbnail

The U.S. Needs 5.5 Million More Units to Close Housing Gap

Pro Builder

The existing-home inventory totaled 1.16 Housing economists differ in their estimates of the supply-demand balance. In a study earlier this year, mortgage-finance company Freddie Mac estimated that the national deficit of single-family homes stood at 3.8 The number of existing homes on the market fell to 1.03

Housing 111
professionals

Sign Up for our Newsletter

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

article thumbnail

Construction Workforce Development Gets New Funding Boost

Pro Builder

An estimated 70,000 students this year alone will learn about the skilled trades needed in residential construction. Econ Update: Lower Mortgage Rates and Tight Supply of Existing Homes Boost New-Home Sales in March New-home sales were up in March, as a result of lower mortgage rates and limited existing homes inventory. Census Bureau.

NAHB 95
article thumbnail

NAHB New Chair to Tackle Regulation and Promote Trades

Pro Builder

Chuck Fowke named NAHB's new chair; a look at new single-family home inventory. New Single-Family Home Inventory. Meanwhile, despite double-digit unemployment nationwide, new-home sales are estimated to be 1.9% NAHB New Chair to Tackle Regulation and Promote Trades. Mon, 08/03/2020 - 13:00. NAHB Housing Policy Briefing.

NAHB 98
article thumbnail

Keep Construction Office & Operations Teams Happy with These ERP & Financial Integrations  

Autodesk Construction Cloud

They require flexible solutions that can keep up and make their lives easier whether they are in the office or at the jobsite. Until recently, software applications for managing the finances of construction paid little attention to anyone outside of the back office. You must redeem the offer within the first six months of enrolling.

Office 52
article thumbnail

The Unique Challenges of Procurement Planning for Construction Companies

ProcurementExpress.com

Estimation tool. Juggling Vendors, Subcontractors, and Large Inventories. All these moving pieces mean purchasing teams, finance, and executives need to work closely to keep operations running smoothly—and within the budget. Straight away, procurement, project management, and finance, should meet to discuss project requirements.

article thumbnail

The Unique Challenges of Procurement Planning for Construction Companies

ProcurementExpress.com

Estimation tool. Juggling Vendors, Subcontractors, and Large Inventories. All these moving pieces mean purchasing teams, finance, and executives need to work closely to keep operations running smoothly—and within the budget. Straight away, procurement, project management, and finance, should meet to discuss project requirements.