News
RealEstateRama News
Families Must Spend 38% of Their Income on Mortgage Payments, New NAHB Index Shows
A new quarterly Cost of Housing Index unveiled today by the National Association of Home Builders (NAHB) and Wells Fargo underscores the housing affordability crisis in America by
New Home Sales in April Down on Higher Mortgage Rates
Mortgage rates that averaged above 7% since mid-April per Freddie Mac data acted as a drag on new home sales last month. Sales of newly built, single-family homes in April fell 4.7% to a
Higher Interest Rates Keep Single-Family Housing Starts Flat in April
Single-family starts remained flat in April as interest rates moved above 7% last month and builders were dealing with tighter lending conditions. Overall housing starts increased 5.7%
NAHB Announces a 10-Point Plan to Tame Shelter Inflation, Ease the Housing Affordability Crisis
With a nationwide shortage of roughly 1.5 million housing units that is making it increasingly difficult for American families to
New Nationwide Codes Mandate a Major Blow to Housing Affordability
Carl Harris, chairman of the National Association of Home Builders (NAHB) and a custom home builder from Wichita, Kan., today issued the following statement after the Biden administration
Housing Starts Fall on Interest Rate, Financing Concerns
Housing starts fell in March with interest rates somewhat higher than expected last month as the latest inflation readings failed to show improvement. Builders are also still facing higher supply-
Broad Housing Coalition Statement on Purported “Rent Control” on Low-Income Housing Tax Credit Communities
The U.S. Department of Housing and Urban Development (HUD) issued its annual income determination for Low-Income Housing
New Home Sales Hold Steady in February
A small rise in mortgage rates in February led to a flat reading for new home sales. Sales of newly built, single-family homes in February edged 0.3% lower to a 662,000 seasonally adjusted annual rate, according to newly released data by the U.S.
Builder Sentiment Rises Above Breakeven Point
A lack of existing inventory that continues to drive buyers to new home construction, coupled with strong demand and mortgage rates below last fall’s cycle peak helped push builder sentiment above a key marker in March.
Single-Family Production Shows Signs of Stirring Across the Nation
Led by larger urban metro markets, single-family growth rates are showing signs of a turnaround as moderating mortgage rates and a lack of existing inventory are contributing to a gradual
Multifamily Housing Market Will Decline in 2024 while Remodeling Market Will Hold Steady
Multifamily starts are predicted to decline in 2024, according to the National Association of Home Builders (NAHB). Meanwhile, the remodeling sector remains on solid ground and will hold
Coalition of Trade Associations Requests Improvements to White House Implementation of the Build America,...
Four national trade associations petitioned the White House to make improvements in its implementation of “made in America”
Housing Affordability Remains Near Historic Low Level
Mortgage rates that hit more than a 20-year high, coupled with elevated construction costs and excessive regulatory costs, left housing affordability in the fourth quarter of 2023 virtually
New Home Sales Bounce Back in December on Lower Mortgage Rates
Falling interest rates in the closing weeks of 2023 helped to bring buyers off the sidelines and provide a boost for new home sales. Sales of newly built, single-family homes in December increased
Single-Family Starts Down in December but Post Solid Showing
In a sign that lower mortgage rates continue to boost the housing market, single-family production surpassed the million mark for the second straight month in December.
Single-Family Starts Surge on Falling Interest Rates
Single-family construction surged in November as lower mortgage rates helped to assuage affordability concerns and unleash pent-up demand for housing. Overall housing starts increased 14.8% in
Amidst Housing Slowdown, Exurban Areas Post Largest Construction Gains
For the third consecutive quarter, single-family growth rates were negative for all geographic sectors of the nation, as exurban areas posted the largest increase in market share for both single-family
New Home Sales Weaken in October
Elevated mortgage rates that averaged 7.62% in October per Freddie Mac, the highest rate since 2000, depressed buyer demand and pushed down new home sales in October. Sales of newly built, single-family homes in October fell 5.6% to a
Single-Family Starts Flat in October
Single-family construction held steady in October as high mortgage rates depressed demand but more buyers turned to new homes because of a lack of existing inventory. Overall housing starts increased 1.9% in October to a seasonally adjusted
Rising Mortgage Rates Push Housing Affordability to Lowest Level in Index History
Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade.
