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Homebuilding: 2020 Year in Review

Nov 04, 2020 by Marc Rapport
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Low resale inventory, favorable mortgage rates, historically low unemployment, and accelerating wage growth are driving builder sentiment and point to single-family production gains in 2020. At the same time, builders are still underbuilding as they continue to struggle with rising construction costs stemming from excessive regulations, a chronic shortage of workers, and a lack of buildable lots. These affordability headwinds are impeding more robust construction growth.