Housing & Construction

The term “construction” appears 636 times in the $908 billion pandemic relief package and $1.4 trillion omnibus spending bill passed by Congress and signed by President Donald Trump at the end of December.

Commercial contractors continue to battle material shortages brought on by the coronavirus pandemic, according to the Q4 2020 U.S. Chamber of Commerce Commercial Construction Index.

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 2.7% in November to a seasonally adjusted annual rate of $658.1 billion.

A trend of higher demand for housing in lower-density areas reported in the second quarter National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) has persisted into the fall, as single-family and multifamily construction continued to overperform in lower cost markets like suburbs and exurbs.

An important consequence of the COVID-19 crisis has been a shift in housing demand preferences, with home buyers and renters favoring lower-density suburbs and exurbs over the core of large metropolitan areas.

One big winner on election day was a dramatic expansion of the legal use of marijuana, which was granted by the voters in five states.

Businesses in the home building industry are looking at their successes this year and wondering if they have just pulled demand forward, or if this year's strength will remain through 2021.

The share of new homes sold in October that had not yet begun construction was higher than at any point since 2005 – a sign of both continued homebuilding and market health to come, and of builders’ savvy response to pandemic-influenced market factors.

We previously reported a declining trend in new single-family home size that is likely to reverse during the post pandemic years.

The Paycheck Protection Program (PPP), which was created by Congress last March and provides forgivable loans to small businesses, expired on August 8 and has yet to be renewed.