New Construction

Housing starts rise in May, but building permits fall
Housing starts rise in May, but building permits fall

Single-family housing starts were up 4.2% from April and 49.8% from May 2020, at 1,098,000, according to the U.S. Census Bureau and Department of Housing and Urban Development.

NAHB: Builder confidence sinks on rising materials costs, supply chain shortages
NAHB: Builder confidence sinks on rising materials costs, supply chain shortages

Increasing costs and declining availability of key building materials dampened builder sentiment, as higher costs have pushed some new homes beyond the budget of prospective buyers. 

Board approves shifting Kneeland Street hotel plan to residences
Board approves shifting Kneeland Street hotel plan to residences

The Boston Planning & Development Agency approved a request from developers to replace a previously approved hotel portion of their 150 Kneeland St. development with residences. 

Could zoning changes help boost supply and balance the market?
Could zoning changes help boost supply and balance the market?

With high costs slowing construction and potentially lowering homeownership for many, easing zoning rules may be the most effective way to increase the supply of new housing. 

NAHB: Shortest-commute locations see fastest homebuilding pace in Q1
NAHB: Shortest-commute locations see fastest homebuilding pace in Q1

Longer-commute areas continued to claim the largest market share in single-family homebuilding, but the construction growth rate was strongest in places with shorter commuting times, the National Association of Home Builders said, citing its quarterly Home Building Geography Index.

Builders report historic, broad-based levels of materials shortages
Builders report historic, broad-based levels of materials shortages

Special questions added to the National Association of Home Builders’ monthly builder survey found 90% or more of respondents had experienced shortages of plywood, oriented strand board, framing lumber and appliances, with most other materials also hard to come by.

NAHB: Builder confidence stays strong in May despite concerns about materials costs
NAHB: Builder confidence stays strong in May despite concerns about materials costs

Builder confidence was steady in May, carrying over April’s reading of 83 for another month, according to the most recent National Association of Home Builders/Wells Fargo Housing Market Index.

Lumber prices triple, raising home prices by $36,000
Lumber prices triple, raising home prices by $36,000

Lumber prices have tripled over the past 12 months, driving up the price of the average new single-family home by $35,872. NAHB hopes to alleviate the situation by meeting with the White House, lawmakers and others.

New-construction home sales soar to record highs
New-construction home sales soar to record highs

Low mortgage rates and low inventory levels are making the demand for homebuilding more attractive to buyers in Boston and nationwide.

Biden Administration announces additional 22,000 H-2B visas
Biden Administration announces additional 22,000 H-2B visas

The DHS announcement comes in response to businesses reporting an immediate need for supplemental, temporary guest workers for this fiscal year.

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