Eye On Housing
Author Archives
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What Do Home Buyers Buy after Moving
In a post last week we discussed NAHB research showing how during the first two years after closing on a home sale, home buyers tend to spend money on furnishings, appliances and remodeling considerably more compared to non-moving owners. Buyers of new homes spend most, outspending non-movers by a factor of 2.8. Buyers of existing homes spend twice as much… Read More ›
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The Ripple Effect of Home Buying
Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics research shows that a home purchase triggers additional spending on appliances, furnishings, and remodeling. Such spending typically exceeds that of non-moving home owners and persists for two years after moving. The NAHB analysis compares spending behavior among three groups of single-family detached home owners:… Read More ›
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Single-Family, Multifamily, Home Improvement Spending All Up
Total private residential construction spending increased to a seasonally adjusted annual rate of $328.6 billion in May 2013, the fastest pace of residential construction since October 2008. The reading is 1.2 percent above the positively revised April estimate and 22 percent higher since a year ago. All three components of residential construction spending registered gains. New multifamily construction spending showed… Read More ›
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Rental Market Continues to Strengthen
The most recent data from the Survey of Market Absorption of Apartments (SOMA) showed that completions of privately financed, nonsubsidized, unfurnished rental apartments continued to climb in the fourth quarter of 2012. The reported 31,600 completions in buildings with 5+ units were slightly above the third quarter level and more than doubled since the fourth quarter of 2011. At the… Read More ›
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Do It Yourself or Hire a Professional?
To celebrate National Home Remodeling Month in May, the National Association of Home Builders (NAHB) Remodelers recommends that home owners consider the safety risks, time delays and hidden costs before attempting do-it-yourself (DIY) home improvements. According to the 2011 American Housing Survey (AHS) from the HUD/Census Bureau, home owner do-it-yourself (DIY) projects accounted for 37 percent of all home remodeling projects… Read More ›
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Immigrant Workers in Construction
A new study from NAHB Economics examines where construction workers come from by analyzing the most recent 2011 American Community Survey (ACS). The results show that immigrants have been an important source of new recruits to the construction industry—accounting for 22 percent of the overall labor force. The inflow of foreign born labor into construction is cyclical and coincides with… Read More ›
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Immigrants Can Have Substantial Impact on Housing Demand
A new research paper from NAHB Economics investigates how immigrants affect US housing demand. The study analyzes recent data from the American Community Survey (ACS) that has detailed information on the country of origin, age, family status and housing choices of newly arrived immigrants. The data show that new immigrants are a young and diverse group of people. More than… Read More ›
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Construction Self Employment Rates are on the Rise
Construction is known for employing a relatively high share of self employed workers. In fact, according to the 2010 American Community Survey (ACS), the construction sector registers the second highest share of self-employed among all industries, more than 26 percent of the employed labor force, i.e. more than one in four construction workers are self employed. Only agriculture has a… Read More ›
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Montana’s At-Large Congressional District Has More Residential Construction Workers Than Any Other District
A new research paper from NAHB Economics presents the 2010 estimates of residential construction employment by state and Congressional district. Despite significant employment losses that took place in home building during the housing downturn the industry continues to employ a substantial number of workers in most parts of the country. NAHB estimates show that, nationally, close to 3.4 million people… Read More ›
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Affordability Pyramid Shows Most Americans Only Qualify for Lower-Priced Homes
The Census Bureau’s American Community Survey (ACS) provides detailed data on the income distribution of US households. The NAHB Priced Out Model translates the income data into the distribution of homes that US households can afford and allows generating the Housing Affordability Pyramid. The pyramid shows how many households in the United States can afford homes in various price ranges. At the… Read More ›