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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. .

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Fed Economist Forecasts Uptick in Single-Family Construction

Pro Builder

NAHB reports. Rebounding construction could lead to supply constraints as well as exacerbate an existing shortage of skilled labor, construction materials, and ready-to-build lots, though long-term inventory growth is necessary to resolve an ever-widening housing affordability crisis. .

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Construction Workforce Development Gets New Funding Boost

Pro Builder

Research by economists at the National Association of Home Builders ( NAHB ) indicates that the home building industry requires almost 2.2 An estimated 70,000 students this year alone will learn about the skilled trades needed in residential construction. below the March 2022 estimate of 707,000. Census Bureau. This is a 9.6%

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New-Home Sales Reach Strongest Rate Since 2006

Pro Builder

Despite ongoing building material issues, new single-family home sales flourished in March, reaching the strongest seasonally adjusted annual rate since September 2006, according to the National Association of Home Builders. Estimated sales of new single-family homes advanced 20.7% Total inventory declined 44.6% cbroderick.

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Economic Outlook 2021

Pro Builder

Strong buyer demand despite higher home prices, shrinking inventory, a spike in lumber prices, and continuing supply chain issues are just some of the factors in play for the home building industry in 2021. NAHB forecasts ongoing growth in single-family construction in 2021, albeit at a lower growth rate than realized in 2020.

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