Construction NAR Study Says Years of Underbuilding to Blame for Housing Shortage The United States needs anywhere from 5 million to 6.8 million more housing units to meet housing needs, according to a recent study by the...
Economics What the Federal Reserve Chair Says About Current Inflation Rates Inflation is “notably” up, according to Federal Reserve Chair Jerome H. Powell, but he notes it’s only a temporary spike. Powell told House...
Remodeling Home Remodeling Expected to Remain Strong Through 2022 Home remodeling is expected to pick up speed and remain elevated for the next 12 months, according to the Joint Center for Housing Studies...
Economics 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...
Building Materials OSB Costs 500% More Since 2020 While the country’s eyes and ears were locked onto the changes of lumber prices, other building material costs shot up, such as oriented...
Building Materials Lumber Prices Drop 21% in Five Days—When Will it Normalize? In just five days, the price of lumber fell 21% to $642 per thousand board feet. Lumber prices hit a record high on May 7 at the price of $1...
Building Materials Lumber Prices Turn Negative for First Time This Year After two months of continuous price drops, lumber costs are now down 0.6% from 2021’s starting price. Lumber futures for September dropped...
Economics How Does Inflation Affect the Housing Market? The Bureau of Labor Statistics' monthly consumer price index found the cost of shelter increased 0.5% from May to June and up 2.6% compared...
Market Data + Trends Buyers' Sense of Urgency Dwindles, Bringing Relief to Market Active listings are down 32% compared to one year ago, but that’s a significant improvement for the sizzling housing market. Despite the...
Affordability Home Prices Outpace Income, Dropping Housing Affordability Rates Monthly mortgage payments increased by 20% in May as family incomes increased by a comparatively meager 1.2%, according to the National...
