Americans are having a harder time getting their hands on furniture, but the industry continues to benefit from a weak dollar and record-low interest rates, according to the latest data from the National Association of Home Builders.
“The dollar continues to strengthen, and we are seeing some additional supply,” said NHAB President and CEO Robert Hickey.
The median price for all new listings rose 2.7% in September, the best monthly gain since January and the largest gain since April.
It’s a good sign that the U.N. is on board with the idea of reducing its annual greenhouse gas emissions to 2020 levels, according Mark Weisbrot, NHAb president and CEO.
But he added, “we’re not going to be happy with the continued recovery in house prices.”
NHAB estimates that new home sales will drop 7.4% in 2018, from an annual average of 5.9 million to 5.6 million.
That’s a sharp drop from the 5.3 million new listings in September last year, which included a record 5.1 million new home listings, according NHABS data.
Weisbroth said the number of homes sold in September dropped for the second consecutive month, from 4.4 million to 3.9 to the lowest level since May, and the second-lowest level since June 2015.
He said the new inventory is starting to come out, and that it will only get better.
That will help drive prices higher and help the economy in the short term, he said.
Even if the U,S.
economy doesn’t pick up soon, it’s a great sign for the homebuilding industry.
This is an ongoing issue, but we have been able to build over the last year,” he said, noting the industry is expected to see a 3% increase in 2018.
In addition to the U-Haul and Airbnb, another popular homebuilding site, the National Home Builder Association says there are also plans to add a number of new companies to the market, including American Home Builder and Home Depot.
For more information, visit NHABs website at www.nhabs.org.