Homebuilders

Listing inventory is returning to levels not seen since before the pandemic, but building material shortages and supply chain issues continue to have an impact on new construction.

Sales of new US homes fell in July for the sixth time this year to the slowest pace since early 2016, extending a months-long deterioration in the housing market fueled by high borrowing costs and a pullback in demand.

Activity is coming in at or below 2020 levels according to reports from the Mortgage Bankers Association and Redfin.

New U.S. home construction fell in July by more than forecast to the slowest pace since early last year as builders adjusted to a pullback in demand and a pickup in inventory.

Despite some moderation in overall supply prices, concrete products are running consistently higher.

A gauge of U.S. homebuilder sentiment declined for an eighth-straight month, marking the worst stretch since the housing market collapsed in 2007 amid higher borrowing costs and elevated prices.

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It is a reversal of too little inventory that plagued the past two years.

Builders across the U.S. have been cutting prices and offerings deals so houses don't sit empty.

New single-family home mortgage applications, housing starts and industry sentiment all came in at their lowest since 2020.

The slowdown in new single-family construction is one of several headwinds homebuilders find themselves facing this summer.

Industry leaders suggested they’ve "never felt so worried at a time when everything feels so good otherwise," said Chris Herbert, managing director of the Joint Center for Housing Studies of Harvard University.

Lumber prices have wavered, but gypsum, steel and transportation were still on the rise in the past month, according to a National Association of Home Builders analysis.

Residential starts decreased 0.2% last month to a 1.72 million annualized rate after a downwardly revised 1.73 million pace in the prior month, according to government data released Wednesday.

A shortage of workers, sharp wage hikes and global supply chain challenges held the nationwide completion rate to just a 7% increase between 2019-21, according to LendingTree.

Despite lean inventory, efforts by builders to boost production have been hindered by supply-chain challenges, soaring materials costs and difficult hiring conditions.

The creation of single- and multifamily inventory occurred at the fastest pace seen since 2006 in February, but housing market transactions slowed as rates rose.

The builder reported better-than-expected quarterly orders as the record shortage of existing-home listings pushed buyers toward newly built properties.

The record in builder borrowing from banks stands in contrast to a period of pandemic-related disruption, but volume will likely remain below market demand unless President Biden can fulfill promises to reduce supply-chain disruptions.

Sales of new U.S. homes retreated in January after a flurry of purchases at the end of 2021, indicating a jump in mortgage rates may be starting to restrain demand.