Despite “unprecedented labor and construction shortages,” home construction has risen across the country, data from a report by Omnis shows.

Omnis “analyzed the data from 368 permit-issuing municipalities across the country, to understand new construction trends at both the national and local levels.” They focused their attention “on two periods: the number of permits issued in the first six months of 2020 and the number of permits issued in the first six months of 2021.”

Across the nation, the numbers demonstrated an “undeniable boom in new residential construction.” For instance, “over the past two years, permits issued increased 36 percent nationally, for all sized residential projects. For single-family homes, the increase was 30 percent. For large buildings containing five or more units, the increase was 21 percent. Also during this period, the average value of a newly constructed single-family home increased seven percent.”

ORLANDO, Fla., Sept. 23, 2021 /PRNewswire/ -- The Home Builders Institute (HBI) today announced the official opening of its new Orlando-based facility for training people for jobs in construction. The BuildStrong Academy of Orlando will train and place area students who want to pursue careers in the skilled trades for the building industry. Funded by The Home Depot Foundation, along with other private, public, and nonprofit sector partners, the program will be free to trainees.

Officials expect the training center to serve approximately 500 new trainees by year-end 2022. The BuildStrong Academy of Orlando's training program guides participants through a step-by-step process designed to take them from beginners, with little-to-no trade skills, to tradespeople who are sought after by employers. Instructors will use HBI's industry-recognized curriculum, which is one of only three pre-­apprenticeship programs recognized by the U.S. Department of Labor.

For more information on the BuildStrong Academy of Orlando, and how to enroll, visit OrlandoAcademy.hbi.org or email: Orlando.Academy@hbi.org

Homes in some of the largest U.S. cities just keep getting more expensive.

In Phoenix alone, an index that measures home prices climbed a whopping 29.3% in June from the previous year, as more people move to the city. The measure in San Diego rose 27.1%, while Seattle increased 25%. The index in nine cities jumped 20% or more.

California reallocated $200 million of tax-exempt private activity bonds formerly reserved for Fortress Investment Group’s Las Vegas tourist train to be used instead by affordable housing projects.

In January, the state’s Debt Limit Allocation Committee set aside that portion of California’s limited financing resource in anticipation that the firm’s Brightline Holdings would request it later in the year. Instead, the venture said in June it will seek an undisclosed amount of debt next year. The committee’s three-member board on Wednesday unanimously approved moving the bonds to housing.

Britain’s construction industry expanded at the fastest pace in 24 years, driven by a surge in homebuilding that’s starting to push up inflation.

IHS Markit said its key index of purchasing managers jumped to 66.3 in June. Economists had forecast a modest slowdown. The strength of demand strained the ability of supply chains to keep up and fueled the biggest increase in purchasing costs since the survey began in 1997.

Around the world, property markets are going bananas.

From the U.S. to the U.K. to China, housing is riding an extended boom. Global valuations are soaring at the fastest pace since 2006, according to Knight Frank, with annual price increases in double digits. Frothy markets are flashing the kind of bubble warnings that haven’t been seen since the run up to the financial crisis, a Bloomberg Economics analysis shows.

The White House held a meeting with representatives from across the homebuilding industry on Friday as President Joe Biden seeks to address a housing supply shortage that’s spurring a record increase in home prices.

Top Biden administration officials sat down with representatives from across the supply chain, including builders, housing advocates, lumber companies, real estate firms, loggers and labor unions, the White House said in a statement. Builders cite high materials prices, scarce supplies and a dearth of skilled workers as ongoing challenges in the race to complete new homes.

The home-building and renovation boom could keep wood demand strong for the next decade, the biggest U.S. lumber producer said Tuesday.

In anticipation, Weyerhaeuser Co. is eyeing forests and sawmills so it can expand output of boards and planks, Chief Executive Officer Devin Stockfish told the Nareit REITweek 2021 Investor Conference on Tuesday. The Seattle-based company already owns 11 million acres of American timberland.

New-home building is set to rise further in coming months and remain elevated for the remainder of the year, the Reserve Bank of Australia said in documents dated from April released under Freedom of Information.

“This has led to construction delays and higher input costs, which are beginning to flow through to prices for detached housing,” the RBA said in a section titled ‘liaison on current conditions.’” “Housing starts are expected to peak around May in most states. However, the peak is expected to be closer to September in New South Wales, reflecting longer time to commencement.”

Across the U.S., house prices are skyrocketing, bidding wars are the norm and supply is scarcer than ever. Now the market is too hot even for homebuilders.

Demand is so fevered -- and construction costs are climbing so quickly -- that overwhelmed builders are suppressing orders and shifting away from fixed prices. Companies including D.R. Horton Inc. and Lennar Corp. are experimenting with blind auctions in areas such as Texas, Florida and southern California. Some smaller firms have stopped signing contracts altogether.

Reprinted courtesy of Prashant Gopal, Bloomberg and Jordan Yadoo, Bloomberg

U.S. lumber futures tumbled from a record high for the sixth straight session, pushing some builders to the sidelines while they wait for even lower prices during North America’s boom in home construction.

The price of lumber for July delivery has dropped 23% from its May 10 peak of $1,733.50 per 1,000 board feet -- a level then that was more than four times higher than a year ago. Prices have fallen for six straight days, marking the longest streak for declines since September.