Construction of single-family homes fell to a more than 18-month low in February, as housing starts declined 8.7 percent to a seasonally adjusted annual rate of 1.162 million units.
Existing-home sales had one of the biggest monthly gains on record in February--up 11.8 percent, according to data from the National Association of Realtors.
In February, tight supply of existing homes undercut potential sales for these homes at a 2.9 percent seasonally adjusted annual rate, totaling 153,000 in lost sales, per the latest data from First American.
Modular home building is a construction process that may prove to have a lasting solution for the current affordability crisis, as startups bring this manufacturing method to multifamily construction.
A new real estate study finds that new household demographics are increasingly at odds with current active households' preferences, and the pricing and products being offered in the market.
The dearth of housing supply in Washington, D.C. continues to challenge the local housing markets, as sales dropped in February 2019 for the seventh month in a row.
In 2018, townhome construction was up, and surpassed other sectors throughout the year. Despite some market softening in the fourth quarter, experts predict "further expansion" for townhome construction in 2019.
