{"id":19978,"date":"2022-01-24T15:16:00","date_gmt":"2022-01-24T15:16:00","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19978"},"modified":"2022-01-24T15:16:04","modified_gmt":"2022-01-24T15:16:04","slug":"can-new-home-starts-maintain-2021-highs","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/can-new-home-starts-maintain-2021-highs\/","title":{"rendered":"Can New-Home Starts Maintain 2021 Highs?"},"content":{"rendered":"\n

Builders ramped up construction on new homes last year as buyers eagerly sought more housing options. Single-family housing starts jumped 13.4% in 2021 compared to 2020, the Commerce Department reported Wednesday. But builders say supply-side challenges pose challenges to keeping that pace in 2022.<\/p>\n\n\n\n

In December, builders pointed to supply challenges<\/a> as the main culprit behind a 2.3% month-to-month decrease in single-family construction.<\/p>\n\n\n\n

\u201cThe price and availability of building materials, and the supply chain in general, remains the most pressing, immediate challenge for builders as they seek to add housing supply,\u201d says Chuck Fowke, chairman of the National Association of Home Builders. \u201cPolicymakers must focus on easing production bottlenecks and eliminating tariffs on Canadian lumber to help address the issues builders are currently facing.\u201d<\/p>\n\n\n\n

A shortage of homes for sale among the existing-home market is prompting more consumers to consider new-home construction. Builders say buyer demand has soared over the past year.<\/p>\n\n\n\n

\u201cThe double-digit gain for single-family starts in 2021 was a continuation of the rebound and expansion of home building that took place in the wake of the pandemic,\u201d says Robert Dietz, NAHB\u2019s chief economist. \u201cHowever, as mortgage interest rates are rising<\/a> and construction costs increase, affordability headwinds are steepening. NAHB\u2019s outlook for 2022 calls for relatively flat conditions for single-family construction, with additional gains for multifamily and remodeling.\u201d<\/p>\n\n\n\n

The multifamily sector, which includes apartment buildings and condos, rose 10.6% in December 2021 compared to November 2021. Demand for rentals has soared as some buyers get priced out of the housing market. Starts in the multifamily sector climbed 22.1% in 2021 compared to the previous year.<\/p>\n\n\n\n

On a regional and year-to-date basis (January through December of 2021 compared to a year earlier), combined single-family and multifamily housing starts rose by the highest amount in the Northeast, up 22.2%, followed by a 16.9% jump in the West, a 15.3% increase in the South, and a 10.9% rise in the Midwest.<\/p>\n\n\n\n

Permits for both single-family homes and multifamily homes\u2014viewed as a gauge of future home buying\u2014rose 9.1% in December on an annual basis. Single-family permits were up 2% and multifamily permits jumped nearly 22%. Source:\u00a0National Association of Home Builders<\/a><\/p>\n\n\n\n

\u00a9National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"

Builders ramped up construction on new homes last year as buyers eagerly sought more housing options. Single-family housing starts jumped 13.4% in 2021 compared to 2020, the Commerce Department reported Wednesday. But builders say supply-side challenges pose challenges to keeping that pace in 2022. In December, builders pointed to supply challenges as the main culprit … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-19978","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nCan New-Home Starts Maintain 2021 Highs? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/can-new-home-starts-maintain-2021-highs\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/can-new-home-starts-maintain-2021-highs\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/can-new-home-starts-maintain-2021-highs\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Can New-Home Starts Maintain 2021 Highs?\",\"datePublished\":\"2022-01-24T15:16:00+00:00\",\"dateModified\":\"2022-01-24T15:16:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/can-new-home-starts-maintain-2021-highs\\\/\"},\"wordCount\":355,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/can-new-home-starts-maintain-2021-highs\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/can-new-home-starts-maintain-2021-highs\\\/\",\"name\":\"Can New-Home Starts Maintain 2021 Highs? 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