Robert Dietz, Ph.D., is chief economist and senior vice president for Economics and Housing Policy for NAHB, where his responsibilities include housing market analysis, economic forecasting and industry surveys, and housing policy research.
The association saw slight increases in its production and occupancy indexes for the fourth quarter.
Developers are becoming increasingly cautious, with high construction costs and their effects on affordability.
Strong demand compensates for rising costs of land, labor, and materials.
Demand is keeping occupancy strong; however, headwinds remain.
For the first time in seven quarters, NAHB’s Multifamily Production Index tops 50.