Construction
Roughly 40% of new builds are going to first-time homebuyers, but larger firms have more success reaching this group of buyers.
With single-family starts and permits rising in August, Fed rate cuts ease construction costs for builders, though competition from resale inventory also stands to increase
Builders optimistic for the first time since May, reports National Association of Home Builders
Listen to the NMP Magazine September 2024 cover story.

National Association of Home Builders reports growth in building permits in Q2 2024
Average effective rates on loans for land acquisition and speculative single-family construction were the highest they’ve been since 2018.
As buyers anxiously await lower mortgage rates, home builders cut prices
New home buyers shopping in virtually nonexistent price tier
Housing boom in most of the U.S. could ease shortage, but cost is still a problem

Builder confidence in the market for newly built single-family homes was 43 in June, down two points from May.