Strong growth of single-family construction spending drove the increase, while spending on multifamily construction was flat, the National Association of Home Builders said.
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The median age of construction workers is 41, the same as a typical worker in the national labor force, according to the National Association of Home Builders’ analysis of the most recent 2019 American Community Survey data.
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Increasing costs and the declining availability of key building materials dampened builder sentiment, as higher costs have pushed some new homes beyond the budget of prospective buyers.
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Longer-commute areas continued to claim the largest market share in single-family homebuilding, but the construction growth rate was strongest in places with shorter commuting times, the National Association of Home Builders said, citing its quarterly Home Building Geography Index.
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Special questions added to the National Association of Home Builders’ monthly builder survey found 90% or more of respondents had experienced shortages of plywood, oriented strand board, framing lumber and appliances, with most other materials also hard to come by.
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The median sales price of new homes sold in April was $372,400, up from $334,200 in March and $310,100 a year ago.
The post New home sales slide in April as prices continue to rise appeared first on Atlanta Agent Magazine.
A recent NAHB survey shows that regulatory costs imposed by the government account for $93,870 (or 23.8%) of the current price of new homes.
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Despite a multitude of factors making construction more challenging, home builders remained confident in the state of the housing market, according to an industry trade group.
The post Home-Builder Confidence Remains Strong, but Buyers Should Expect Rising Prices appeared first on Real Estate News & Insights | realtor.com®.
Builder confidence was steady in May, carrying over April’s reading of 83 for another month, according to the most recent National Association of Home Builders/Wells Fargo Housing Market Index.
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Whether they’re still weary of going to a gym full of people or just looking to work off those extra pandemic pounds in privacy, homebuyers are increasingly prioritizing home exercise rooms.
The post Gen X and millennials want home gyms. Boomers? Not so much. appeared first on Atlanta Agent Magazine.