NAHB: Headwinds will limit single-family gains in 2019
Affordability challenges and limited inventories will keep a lid on home market growth.
Mounting housing affordability concerns coupled with supply-side constraints will limit single-family output to modest gains in 2019, according to economists speaking at the International Builders’ Show in Las Vegas today.
“Ongoing job creation and solid household formations will keep demand firm, but builders will continue to grapple with supply-side headwinds that will dampen more vigorous growth in the single-family sector,” said NAHB Chief Economist Robert Dietz.
Specifically, builders are dealing with a chronic lack of construction workers; a shortage of buildable lots; onerous regulations; tariffs on lumber and other key building materials; and a slow growth in acquisition, development and construction loan activity that is failing to keep pace with demand.
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Source: NAHB.org
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