Tag Archives: Housing Starts

The rise in mortgage rates and inflationary concerns are impacting new residential construction, as borrower costs continue to force many prospective buyers to the sidelines.

New Census data has found that a spike in the cost of raw materials and continued supply chain issues has driven up the number of home construction projects that were authorized but not started.

Despite lingering supply chain concerns, there were 811,000 single-family units under construction in March, marking the highest level since 2006.

Mortgage rates have soared to levels last seen prior to the pandemic, as high inflation and strong consumer spending contributed to this upward rate drive.

New construction activity rolled onward in November, as a rise in homebuilder sentiment looks to even the supply to demand imbalance in 2022.

As the nation continues to struggle to keep up with housing demand, more Americans are deciding to ride out the storm and not give into exorbitant prices on limited inventory.

Despite the rising cost of building materials and poor February weather, housing starts took off in March reaching new 15-year highs.

February saw a down market in terms of housing starts, but at an average of 1.42 million, remained considerably above the pre-COVID average.

One economist described 2020 as "the strongest [year] for residential construction since 2006.” Click through to read about the latest housing market data.

Also in The Week Ahead are reports on existing home sales, and Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell will update Congress on the CARES Act.