NAHB

The Lehigh Valley is not adding enough housing to keep up with job growth, a recent study finds, a problem shared with other major coastal hubs experiencing soaring economies and debilitating construction costs.

Two key economic forces are responsible for driving single-family housing forward, but their potential is limited, according to the National Association of Home Builders.

Homebuilders' optimism increased as low mortgage rates fueled demand. However, affordability constraints and the continuing scarcity of construction workers and land parcels remain concerns.

Sentiment among homebuilders unexpectedly posted the first decline this year, suggesting lower mortgage rates are failing to give the housing market a sustained boost amid property prices that remain out of reach for many buyers.

The exurbs were the only area that posted annual growth in new single-family home permits in the first quarter, highlighting an ongoing affordability battle for homebuyers and builders looking for land, according to the NAHB.

Sentiment among homebuilders increased in May by more than expected, sustaining this year's upward swing on stronger sales and lower mortgage rates.

Affordability got better for mortgage borrowers at the start of 2019, but housing inventory constraints limited the degree of improvement, according to the National Association of Home Builders and Wells Fargo.

Tight housing inventory and some unexpected behaviors from potential buyers and sellers of homes have prompted Citizens Bank to make changes to its services and mortgage-loan products.

Remodeling activity stepped up in recent years as homeowners stayed put for nearly twice as long as before the housing bubble burst, but several forecasts point to a potential slowdown on the horizon, which is a welcome sign for the mortgage business.

A state senate bill making its way through Sacramento could mean high density housing gets built along transit stops throughout San Diego County.