Author Archives

  • Features and Colors of Kitchens in New Homes

    What are the features and colors included in kitchens of newly constructed homes? Data from Houzz, combined with information from the 2016 Builder Practices Survey, provides insight. The 2016 Builder Practices Survey (BPS) is a national survey of homebuilders, conducted by Home Innovation Research Labs, that captures valuable information on the product features included in new residential construction, both single-family… Read More ›

  • Asking Prices of Apartments and Condominiums in the First Quarter of 2016

    The US Census Bureau, along with the US Department of Commerce (DOC) and the US Department of Housing and Urban Development (HUD), fund and publish the Survey of Market Absorption (SOMA). The SOMA contains data on recently completed apartments and condominiums, including the asking rent and sale prices of these units. The median asking price of privately financed, unfurnished, nonsubsidized… Read More ›

  • Completions of Units in Large, For-Rent Multifamily Buildings Reached High Point in 2015

    Each year the US Census Bureau collects data on the number of units completed in multifamily buildings in its Survey of Construction (SOC). In 2015, 304,000 for-rent multifamily units were completed. Eight percent of these completions were in buildings with 9 or fewer units, 30 percent were in buildings with 10 to 29 units, 15 percent were in buildings with… Read More ›

  • New Single-Family Homes Started in 2015 Have More Bedrooms

    Recently released data from the US Census’ Survey of Construction (SOC) show that 10 percent of single-family homes started in 2015 have 2 or less bedrooms, 43 percent have 3 bedrooms, 36 percent have 4 bedrooms, and 11 percent have 5 or more bedrooms. Three bedroom homes have consistently been the most common type of new single-family home built. However, the… Read More ›

  • 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 ›