“Builders are entering 2022 with backlogs that they are having a hard time completing due to material and labor shortages, and new-home prices are sitting near a historic high.” — First American Deputy Chief Economist Odeta Kushi

“Production disruptions are so severe that many builders are waiting months to receive cabinets, garage doors, countertops and appliances.” — NAHB Chairman Jerry Konter 

Single-family housing starts fell 5.6% from December’s revised estimate to 1,116,000, while multifamily starts slid 2.1% to 510,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.

Builders started to make headway against supply-chain issues that have hampered construction of homes in the face of high demand. 

While multifamily starts surged 13.7% compared to November, the pace of new single-family housing construction slid 2.3%, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

The first phase of the deal comprises 1,424 new single-family homes and townhouses in Tampa, Fla.; Atlanta and Athens, Ga.; and Pinehurst, N.C.

The median sales price of new homes hit a new high of $416,900.

“November’s housing starts report signals strength for the housing market.”  — First American deputy chief economist Odeta Kushi

“While 2021 single-family starts are expected to end the year 24% higher than the pre-Covid 2019 level, we expect higher interest rates in 2022 will put a damper on housing affordability.” — NAHB chief economist Robert Dietz

Nearly 100 new homesites are available in the 3,000-acre community of Audubon, where Drees Custom Homes and Perry Homes recently launched sales, according to a press release. Empire Communities will join Drees and Perry as the community’s third newest builder.

There may be a construction boom, but builders still have a lot of ground to make up from a decade of underbuilding, according to a new report from Zillow.

Led by Jennifer Keller, Hamilton Thomas Homes broke ground in October in Balmoral, where it will build 31 homes on 45-foot sites. Homes will range from 1,700 to 3,000 square feet, with pricing in the mid-$300,000s, according to a press release. 

Coventry Homes will expand its building program to the 460-acre community of Candela, the builder announced in a press release. Priced from the $530,000s, homes will be situated on 70-foot sites with designs ranging from 2,915 to 4,573 square feet. Floor plans have not yet been released. 

Beazer Homes has launched pre-sales for its new Duets series of homes in Sienna’s Forest Landing neighborhood. 

Four builders have opened model homes priced above or near $1 million in Sienna, comprising the Missouri City community’s new Luxury Collection.

November’s reading of 83 was up three points from October, driven by low existing inventories and strong buyer demand, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.