“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.

Units at Four Seasons Private Residences Fort Lauderdale are closing at an average price of $2,000 per square foot.

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.

Sales launched this week at The Crosby Miami Worldcenter, a planned 33-story tower with 450 residences in downtown Miami, a news release said.

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

A new residential real estate development will add 354 luxury condo units across twin towers in Miami’s Brickell Financial District. Miami-based Integra Investments and condominium developer Related Group announced plans for The St. Regis Residences, Miami, this week.

“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

Miami got its first glimpse of The Standard Residences, Midtown Miami, during a recent launch celebration held at The Standard Spa Miami Beach, according to a press release. Hosted by The Standard International Executive Chairman Amar Lalvani and Rosso Development CEO Carlos Rosso, the event showcased a preview of the hotel brand’s first-ever residential residences.

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.

Standard International and Rosso Development recently announced the launch of The Standard Residences in Midtown Miami, the first of its kind in the area, according to a press release.

The Estate Companies (EIG) and PTM Partners (PTM) have announced the completion of Soleste Grand Central, a 360-unit rental development located at 218 NW 8th St.