Housing Construction in the Russian Federation: Factors and Trends in the Development of the Industry in Modern Conditions

Providing the population with affordable and comfortable housing is one of the priority tasks of the Russian state, which is enshrined in the national development goals and strategic documents of the Russian Federation. The purpose of the article is to analyze the current state and identify factors that determine the prospects for the development of the housing construction industry in the Russian Federation. In the course of the study, factors characterizing the supply and demand in the residential real estate construction industry, as well as macroeconomic factors affecting the Russian economy as a whole, were studied. The factor analysis was carried out using a multivariate regression model. As a result of the analytical procedures performed, a system of factors affecting the key indicator of the housing construction industry, the commissioning of residential buildings, was formed and evaluated. It was concluded that the following factors have the greatest positive impact on the dynamics of housing commissioning: the volume of mortgage lending, the share of employees in construction, and the average annual inflation. The results of the study indicate the need to transition from an extensive growth model based on price factors and lending volumes to a balanced development model for the construction industry.