Construction industry

While elevated prices are acting as brake on demand, mortgage rates near historic lows and elevated backlogs suggest steady residential construction gains in coming months that will help contribute to economic growth.

Companies are facing delays for everything from sheet rock to cabinets and kitchen appliances and as a result, homes are taking about a month longer to build.

U.S. housing starts fell by more than forecast in April, suggesting that supply-chain constraints and rising materials costs continue to hold builders back.

While home sales have softened since October, they are still above pre-pandemic levels, indicating that construction activity will remain strong for some time.

Stuck between local zoning hurdles and a lack of ideal federal financing, ADUs could be an important aspect to unlocking much-needed inventory.

But building permits near an almost 15-year high point to further gains in home construction in the months ahead. The data coincide with still-elevated homebuilder sentiment as the industry works to replenish lean inventory and meet housing demand.

Single-family starts rose for a seventh month to a 1.186 million annualized rate that was the highest since 2007.

New-home construction maintained its momentum in October while possible site shutdowns loom.

With the real estate market in desperate need for more housing stock, some industry leaders are pinning their hopes on governmental policies to make building more affordable. But how the two presidential candidates may approach these issues varies greatly.

With record low mortgage rates driving buyer demand, home sales and prices spiked in September, shrinking the supply and days on market, according to Remax.