Homebuyers shouldn’t expect to see any discounts from falling lumber prices either, because builders set their prices based largely on overall demand in the housing market.
U.S. homebuilders are poised to benefit this spring homebuying season amid strong demand, low mortgage rates and an all-time low inventory of previously occupied homes for sale. But soaring lumber prices and a shortage of construction-ready land could limit their ability to capitalize on the strong housing market trends, analysts say.
Lennar is buying CalAtlantic Group in a $5.7 billion deal that will create the nation's largest homebuilder as sales of new homes reach levels not seen in a decade.
U.S. homebuilders are feeling more optimistic about their business prospects, reflecting a recent surge in sales of newly built homes and a lingering shortage of previously occupied homes on the market.
Homebuilders pulled back on construction in the South, causing the pace of housing starts nationwide to fall in August to its lowest level in three months.
U.S. homebuilders are feeling slightly less optimistic about their sales prospects this month, though their outlook for the new-home market remains positive overall.
Come next year, homebuilders will gain the ability to use an electronic system to apply for construction permits from many local governments throughout the state.
U.S. builders started work on fewer homes in this December than in the same month a year ago, but previous gains meant that residential construction ended 2015 at its strongest level in eight years.
Wanting to shed more light on to the ever-changing desires of Wisconsin homebuyers, a builders association is hoping contractors will help it drum up responses to a survey aimed at helping the industry tailor its products to public demand.