Author Archives

  • Private Residential Spending Declined in May; Significant Revisions for Improvement Spending

    NAHB analysis of the Census Construction Spending data shows total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $535.9 billion in May. It was down 4.0% in May, after a 5.1% decline in April, due to the economic consequences of the COVID-19 lockdowns. On a year-over-year basis, however, total private construction spending inched up 0.7%…. Read More ›

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  • May Personal Income Declined 4.2%

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income decreased in May to a seasonally adjusted annual rate (SAAR) of $19,839 billion. It went down 4.2% in May, after a 10.8% jump in April. This decrease in personal income largely came from the decline in government social benefits, because the majority of one-time… Read More ›

  • Private Residential Spending Slides in April

    NAHB analysis of the Census Construction Spending data shows total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $536.8 billion in April. It was down 4.5% in April, after a 0.2% dip in March, due to the economic consequences of the COVID-19 lockdowns. On a year-over-year basis, however, total private construction spending rose 6.2%. The… Read More ›

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  • April Personal Income Up 10.5% Due to CARES

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income surged in April to a seasonally adjusted annual rate (SAAR) of $20,674 billion. The 10.5% increase in personal income was largely the effects of Federal Pandemic Response Programs. Among the $360.5 billion increase in unemployment insurance, there were $132.0 billion in Pandemic Unemployment Compensation… Read More ›

  • Public School Children per Housing Unit Lowest in New England

    Last week, we published a post showing the number of children enrolled in public schools in different types of homes at the national level. This week, we look at the numbers by state, which vary widely. Outside of the District Columbia, the lowest numbers tend to be found in the New England states.   In particular, Vermont has the smallest… Read More ›

  • One Public School Child for Every Three Homes

    Public education accounts for almost 40% of local government direct expenditures per housing unit, based on data from the Census of Government.  School impact fees on new construction are typically determined in part by assumptions about the number of children in public schools per housing unit. The most recent 2018 American Community Survey (ACS) data show that, on average, there… Read More ›

  • Private Residential Spending Rises in March

    NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $550.3 billion in March. It was up 2.3% in March, after decreasing 4.8% in February. On a year-over-year basis, total private construction spending rose 8.8%. The monthly gains are largely attributed to the growth of spending on… Read More ›

  • Personal Income Slides 2% in March

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income fell sharply in March to a seasonally adjusted annual rate (SAAR) of $18,693 billion. The 2% decline in personal income was largely due to losses in compensation, a result of massive layoffs during the second half of March when the ‘stay-at-home’ orders were issued… Read More ›

  • Homeownership Rate Up in the First Quarter 2020

    According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate reaches 65.3% in the first quarter 2020. This is 1.1 percentage points higher than the rate of 64.2% in the first quarter of 2019, but not statistically different from the previous quarter reading of 65.1%. Strong owner household formation with around 2.7 million homeowners added in the… Read More ›

  • Private Residential Construction Spending Rises for the Sixth Consecutive Month

    NAHB analysis of Census Construction Spending data shows that total private residential construction spending increased 1.4% to a seasonally adjusted annual rate (SAAR) of $540.7 billion in December 2019. With the support of decreasing mortgage interest rates, it was the sixth consecutive monthly increase after declines in the first half of 2019.  Nevertheless, the value of total private residential construction… Read More ›