According to the US Commerce Department, housing starts (a measure of new-home construction) fell 4% in July. This statistic is widely regarded as an indicator of how much construction is in the works. According to the Wall Street Journal, the Northeast saw the sharpest dip in housing starts with a decline of 13.8% from June.
But we know the drop isn’t because of money or motivation to build.
According to Freddie Mac, the average rate for a 30-year mortgage is at a 3-year low. In addition, The National Association of Home Builders noted builder confidence is strong (especially for single-family homes). The drop is largely due to the low number of available affordable homes and rising construction costs.
While experts believe that this trend will likely continue into 2020, the US housing market continues to reveal an opportunity for prospective homeowners looking to build a dome home.
Unlike a conventional home, we're able to build with fewer resources and less manpower while passing those savings on to the homeowner.