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HBACA News & Press: National News

Rising Prices, Limited Labor Handcuff Housing Inventory

Friday, October 27, 2017   (0 Comments)
Posted by: Staff
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Nowhere is the law of supply and demand more evident than in the housing market. Home prices recently surpassed their pre-recession peak, confirming what we already knew: Supply is insufficient.

In 2017, a projected 840,000 single-family homes will have begun construction, compared to more than one million prospective buyers.

“Demand for new single-family homes continues to exceed production, and there are several important economic reasons why that is happening,” said NAHB Chief Economist Robert Dietz. “Limited access to labor and lots, rising material prices, and overly restrictive zoning and building regulations all present significant challenges for the housing industry.”

Dietz, alongside other industry experts, will elaborate on these topics during an upcoming webinar, “Residential Construction: Homeownership, Supply & Headwinds,” on Wednesday, November 1 at 2 pm ET.

Hosted by the Mortgage Bankers Association, the webinar will illustrate for attendees:

  • Trends in housing supply and demand, and how they impact affordability
  • Patterns in single-family starts and other issues currently facing the industry
  • The outlook for single-family housing markets over the next two years

NAHB members can register here for free by using the promo code NAHB.

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