NAHB

U.S. homebuilder sentiment rose for a fourth month in April as limited resale inventory helped drive demand for new houses, suggesting the residential real estate market is slowly recovering.

Less than one-third of households would be able to afford 2022's median-priced new home, according to the National Association of Homebuilders.

Interest rates and inflation are at the top of the list of problems facing the industry, but attracting consumers under current market conditions has become more concerning, according to the National Association of Home Builders.

Issuances decreased over 10% annually, while at the same time, builders are still seeing shortages of many materials, according to the National Association of Home Builders.

The share of single-family constructions located in homeowner's associations grew to over 67% in 2020, according to the National Association of Home Builders.

Concrete prices have surged 10.7% in 2022, but the cost of once-volatile softwood lumber has moderated greatly since the summer, according to the National Association of Home Builders.

The decline in loan activity and softening prices also helped drive down builder sentiment for the 11th month in a row.

New-home mortgage applications fell 13.2% on an annual basis, while average purchase sizes declined for the fifth straight month.

No U.S. region reported growth in issuances, with the number falling off the most in the Midwest.

Consumer demands for lower density and more affordable prices fueled a larger share of construction outside urban cores, but recent trends have led to slowdowns across the board.