Here’s How the Labor Shortage Is Impacting Housing, by the Numbers

NAHB Economist Robert Dietz breaks down the ways the lack of skilled construction labor is affecting the housing market.

 

Among the benefits of firming economic growth—GDP increased at a 4.2 percent annualized rate in the second quarter of 2018, the fastest pace since 2014—is ongoing job creation and low unemployment. At 3.7 percent, the current unemployment rate risks being too low. Right now there are more open, unfilled jobs in the economy than there are...

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Home price gains fall below 6% for the first time in a year: August S&P Case-Shiller index

Mortgage interest rates didn't begin their recent surge until the start of September, but home prices were already feeling pressure, as fewer people could afford what was for sale.

Nationally, prices rose 5.8 percent in August compared with August 2017, according to the S&P CoreLogic Case-Shiller home prices index. That is less than the 6 percent annual gain in July.

The index's 10-City Composite rose 5.1 percent annually, down from 5.5 percent in the previous month. The 20-City Composite...

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Housing Is Still Affordable in the United States!

Lately, there have been many headlines circulating about whether or not there is an “affordability issue forming in the housing market.”

If you are considering selling your current house and moving up to the home of your dreams, but are unsure whether or not to believe what you’re seeing in the news, let’s look at the results of the latest Housing Affordability Report from the National Association of Realtors (NAR).

According to NAR:

“A value...

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Rising prices and interest rates are a 'one-two punch' to homebuyers, Lennar chairman says

Rising prices and accelerating interest rates are a "one-two punch" to homebuyers, Lennar Executive Chairman Stuart Miller told CNBC on Thursday.

"The combination of both higher prices ... together with the acceleration and adjustment of interest rates — that is a one-two punch to what our buyers purchase, which is basically [a] monthly payment," Miller told CNBC's Diana Olick during a "Power Lunch" interview.

"Higher prices mean higher down payment and higher monthly payment. And higher...

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