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Builder confidence fell six points to 50 from July to August.
Interest rates, labor shortages, and material prices have all had an impact.
Company sold 20-acre Bay Area property to e-retail giant in 2021.
Presented by Thought Leadership
With Fed policy maintaining a tighter lending environment, developers will continue to have a challenging capital environment.
Even if resale listings begin to rise, the market for newly built homes will continue.
Single-family rentals remain popular with almost 136,000 units planned.
HUD is funding case histories to identify effective incentives for office-to-resi projects.
Researchers created a model to identify parameters that would indicate a financially viable conversion.
Difficulties in hiring are also a problem.
The Northeast saw the biggest permitting decrease, followed by the West, then South but the Midwest moved up slightly.