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Builder confidence in the newly built single-family home market has dropped for the second consecutive month, continuing the trend of weakened sentiment due to persistently high mortgage rates. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), builder confidence fell five points in September, landing at a score of 45....

Private investment in student housing, specifically in dormitories, saw a slight uptick in the second quarter of 2023, according to data from the Bureau of Economic Analysis (BEA). The investment rose by 1% to a seasonally adjusted annual rate (SAAR) of $3.6 billion, following a 6.4% increase in the first quarter of 2023. Despite this...

Wood framing continues to dominate the construction of single-family homes in the U.S., with new data from the National Association of Home Builders (NAHB) revealing that 94% of new homes completed in 2022 were wood-framed. This marks the third consecutive year of growth in wood-framed home construction, up from 90% in 2019. Other framing methods,...

The residential remodeling market experienced significant growth in 2021, driven by the pandemic’s impact on housing and lifestyle decisions. According to data from the National Income and Product Accounts (NIPA), expenditures on home improvements soared by 13% to $328 billion in 2021, up from $289 billion in 2020. This marked the largest increase since 1993,...

The price growth of key building materials has moderated significantly in 2023, according to the latest Producer Price Index (PPI) report. The PPI for goods inputs to residential construction, excluding energy, rose by just 0.2% in July, marking a substantial slowdown compared to previous years. This is the lowest monthly increase observed since prior to...

Mortgage credit availability has dropped to its lowest point in a decade, signaling tighter lending standards in the housing market. According to the Mortgage Bankers Association (MBA), its monthly index measuring credit availability fell in July to the lowest level since 2013, reflecting a significant contraction in the availability of home loans. Tightening Lending Standards...

Lending conditions in the U.S. banking system are becoming increasingly stringent, with banks indicating that they will continue to tighten standards in the second half of 2023. According to the Federal Reserve’s Senior Loan Officer Opinion Survey, the tightening of credit availability has already started, and demand for loans has been declining as well. Tightening...

The growing levels of new home construction and sales are improving expectations for housing availability, according to the latest Housing Trends Report for the second quarter of 2023. As a result, many prospective homebuyers are increasingly optimistic that finding a home will become easier in the coming months. Improved Expectations for Housing Availability The report...

A surge in U.S. rental home construction could ease rent prices in the months ahead, providing a much-needed relief as the Federal Reserve continues its efforts to control inflation. However, tightening credit conditions are starting to slow down the apartment building boom. Apartment Construction Slows Amid Rate Hikes In June, groundbreaking on multifamily homes with...

Mortgage rates in the U.K. have surged to their highest level in 15 years, deepening concerns for homeowners already struggling with rising borrowing costs. According to data from Moneyfacts, the average rate on a two-year fixed mortgage deal now stands at 6.66%, a modest increase from the previous day. This is the highest level since...