New construction homes are playing a bigger role in the housing market

Nov 27, 2023
New home sales fell 5.6% in October, but they're still up 18% over last year. And they make up a record share of total inventory.
Homebuyers may be able to find deals right now on new homes that began construction during the housing boom, says Redfin economist Daryl Fairweather.
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Demand, construction slowing for single-family homes

Dec 19, 2022
This year will see the first year that single family home building has decline since 2011, according to the National Association of Home Builders.
An aerial view of new homes under construction.
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Homebuilders say they can't find enough workers despite better pay

Jan 20, 2022
Demand is pushing up wages, but not enough, some say, to bring young workers to the door as older ones head for the exit.
The construction industry is dealing with a labor shortage as older workers leave the field and too few young people choose to join it.
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Homebuilders are facing another shortage: housing lots

Nov 18, 2021
Alone with materials and labor, available lots are in high demand.
In additing to a shortage of supplies and labor, there's now a shortage of lots for home builders.
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Homebuilders are optimistic in spite of supply chain issues

Oct 19, 2021
A large number of buyers are chasing not enough homes on the market.
A house under construction is seen in Culver City, a neighborhood of Los Angeles on Nov. 21, 2020.
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New wood products plant in Minnesota will create jobs, could help climate

Aug 9, 2021
The facility would have ancillary benefits for loggers and truckers, and its building materials would keep carbon locked up, expert says.
The timber industry around the town of Cohasset could see an economic boom thanks to the planned construction of a new mill.
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Homebuilding slows in April with both labor and lumber in short supply

May 18, 2021
"All of a sudden, these guys don’t have the wood to start supplying some of these jobs,” one analyst said.
Both labor and lumber are in short supply when it comes to building new homes.
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It's getting more expensive to build a house

May 18, 2021
The land, labor, supplies, and permits add up.
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The homebuilding industry still needs thousands of workers, and it's looking in new places to hire

Sep 17, 2020
A training program for high school students in the juvenile justice system aims to expand the pool of candidates for entry-level jobs.
A construction worker roofing an apartment complex in Uniondale, New York. Construction, generally considered essential, has continued in the pandemic.
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