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You are here: Home / Real Estate / Construction down as shortages continue

Construction down as shortages continue

March 31, 2022 By Geoffrey Disch Leave a Comment

The U.S. Census Bureau and the Department of Housing and Urban Development report that sales of new single-family homes were down 2 percent in February from sales in January. The good news is that sales remain above pre-pandemic levels.

Analysts cited shortages in building materials and labor as primary reasons for February’s decline.

Rising home prices and rising mortgage rates may cool demand, leaving many out of the housing market altogether, but when this might occur is anybody’s guess.

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Filed Under: Real Estate Tagged With: new single-family sales

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