Eye On Housing
Homeownership Rates by Minority Groups
The homeownership rate for “all minorities” increased to 47.4 percent in the second quarter of 2018, up 0.6 percent from the same time last year (46.8 percent). This increase helped boost the overall homeownership rate to 64.3 percent, also up 0.6 percent from the second quarter of 2017 (Figure 1). A recent NAHB blog covers the overall homeownership rate in… Read More ›
Recent Posts
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Flat Conditions for Custom Home Building
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building remain flat. There were 50,000 total custom starts for the second quarter of 2018. This was effectively unchanged relative to the second quarter of 2017. Over the last four quarters, ending with the second quarter of 2018, custom housing starts totaled 172,000…. Read More ›
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New Single-Family Home Size Continues Downward Trend
Continuing a multiyear trend, new single-family home size decreased during the second quarter of 2018. New home size has been falling over the last two years due to an incremental move to additional entry-level home construction. According to second quarter 2018 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area decreased to 2,344 square… Read More ›
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Townhouse Construction Surges
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction posted significant gains during the second quarter of 2018. Townhouse construction is set for further expansion given the demographics of renters entering the for-sale market, as well as ongoing land constraints and the growth of demand for walkable neighborhoods. Over the… Read More ›
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Flat Conditions for Housing Starts
Total housing starts posted a slight increase in July as markets face headwinds in the form of rising construction costs and growing affordability concerns. Total housing starts increased 0.9% in July and are 6.2% higher for 2018 on a year-to-date basis, according to the joint data release from the Census Bureau and HUD. The pace of single-family starts was roughly… Read More ›
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Builder Confidence Remains Firm in August
Builder confidence in the market for newly-built single-family homes edged down one point to a solid 67 reading in August on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builders continue to report strong demand for new housing, fueled by steady job and income growth along with rising household formations. However, they are increasingly focused on growing affordability… Read More ›
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Most Buyers Actively Searching for a Home Have Been Looking for 3+ Months
The Housing Trends Report (HTR) is a research product created by NAHB’s Economics team to track prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets. Results are based on national polls conducted by Morning Consult, but are not seasonally adjusted due to the short time horizon of the series, and therefore caution is advised… Read More ›
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FHA-Backed Loans Accounted For The Majority Of All Non-Conventional Financing In 2017
NAHB analysis of the 2017 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing in 2017 accounted for less than a third of the market, at 30.8%. The reliance on non-conventional forms of financing varied across the United States, with its share at 35.4% in the South Atlantic and West South Central divisions but… Read More ›
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Half of US Homes Built before 1980
The median age of owner-occupied homes is 37 years, according to the latest data from the 2016 American Community Survey. Compared to a median age of 31 years in 2005, the U.S. owner-occupied housing stock is aging gradually. This aging trend is primarily because of modest gains in residential construction over the past decade. This aging housing stock signals a… Read More ›
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Price Index of Goods Used in Residential Construction Holds Steady
The prices of residential construction materials were unchanged in July, according to the latest Producer Price Index (PPI) release by the Bureau of Labor Statistics. Increases in prices paid for OSB (+7.0%, not seasonally adjusted) and gypsum products (+2.0%, seasonally adjusted) were offset by declines in softwood lumber (-2.5%, NSA) and ready-mix concrete (-1.5%, SA). July marked the first time… Read More ›