Author Archives

  • Apartment Absorption Rate Remains Stable

    Recently released data from the US Census Bureau’s Survey of Market Absorption (SOMA) shows that 54,300 privately financed, non-subsidized rental apartments in buildings with 5 or more units were completed in the first quarter of 2016. Compared to the previous quarter, completions (seasonally adjusted) decreased by 19 percent. However, completions increased by 25 percent year-over-year, from 43,300 in the first… Read More ›

  • Apartment and Condominium Market Dips Slightly in the Second Quarter

    The National Association of Home Builders’ (NAHB) Multifamily Production Index (MPI) dropped three points to 50 in the second quarter of 2016 (Exhibit 1). This is the 18th consecutive reading of 50 or above, which means that more builders and developers report that current conditions in the apartment and condominium market are improving than report conditions are getting worse. Exhibit… Read More ›

  • Second Quarter Results Show 55+ Housing Market Remains in Positive Territory

    The National Association of Home Builder’s single-family 55+ Housing Market Index (HMI) increased one point to 57 in the second quarter of 2016 (Figure 1). This is the ninth consecutive quarter with a reading above 50. An index number above 50 indicates that more builders view conditions as good than poor. Figure 1: 55+ Housing Market Index: Single-family, Seasonally Adjusted… Read More ›

  • Remodeling Market Index Holds Steady in Second Quarter

    The National Association of Home Builder’s Remodeling Market Index (RMI) dropped one point to 53 in the second quarter of 2016. Although the index dropped slightly, this quarter marks the 13th quarter in which the index is above the breakeven point of 50. An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior… Read More ›

  • Why Is the Labor Force Participation Rate Declining?

    There has been no shortage of discussion around the declining US labor force participation rate. After its peak of 67.3 percent in the early months of 2000, the rate declined steadily until the mid-2000s, then plummeted when the US Financial Crisis hit. As of June 2016, the rate stood at 62.7 percent of the civilian, non-institutionalized population (Figure 1). Figure… Read More ›

  • Apartment Absorptions and Completions Grew in 2015

    The rental apartment market continued to post solid growth in 2015. Both multifamily starts and completions increased. Data from the US Census Bureau shows that multifamily for-rent starts totaled to 372,000 units in 2015, which is 13 percent higher than in 2014. According to the Survey of Market Absorption (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments in buildings… Read More ›

  • Who Are NAHB’s Associate Members?

    Every year since 2008, the NAHB has conducted a member census in order to better understand the composition and characteristics of the people who belong to its organization.  In 2015, 68 percent of NAHB’s members were associate members—those indirectly involved in home building.  The remaining 32 percent were builder members—those directly involved in home building.  Last month we gave readers… Read More ›

  • Who are NAHB’s Builder Members?

    Who are NAHB’s Builder Members? Every year the National Association of Home Builders conducts a member census in order to better understand the composition and characteristics of the people who belong to its organization.  In 2015, 32 percent of NAHB’s members were builders—those directly involved in home building.  The remaining 68 percent were associate members—those involved in supportive industries and… Read More ›

  • First Quarter GDP Revised Up, But Trend Is Still Down

    The US Bureau of Economic Analysis (BEA) released the second estimate of US real gross domestic product (GDP) growth for the first quarter of 2016 (Exhibit 1). Real GDP grew at a seasonally adjusted annual rate of 0.8 percent, which is higher than the previously released advance estimate of 0.5 percent. Exhibit 1: US Real Gross Domestic Product (GDP), Seasonally… Read More ›

  • Apartment and Condominium Market Remains Steady in the First Quarter

    The National Association of Home Builder’s Multifamily Production Index (MPI) increased one point to 53 in the first quarter of 2016 (Exhibit 1). This quarter marks the 17th consecutive quarter in which the index has been above its breakeven point of 50, which means that more builders and developers report that current conditions in the apartment and the condominium market… Read More ›