Eye On Housing
Author Archives
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Small Gain for Custom Home Building at Start of 2018
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates a small gain for custom home building construction starts. There were 31,000 total custom starts for the first quarter of the year. Over the last four quarters, there were 172,000 custom single-family home starts, an increase of approximately 2% over the prior four quarters. Note that… Read More ›
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Townhouse Construction Up 7% Over Last Year
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction starts continue to post gains. Over the last four quarters (ending with the first quarter of 2018), townhouse starts totaled 105,000, 7% higher than the prior four quarters. Townhouses, or single-family attached housing, accounted for 21,000 starts during the first quarter… Read More ›
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Single-Family Starts Flat in April
Total housing starts declined in April due a drop in the volatile multifamily category. Starts decreased 3.7% month-over-month to a 1.29 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The pace of single-family starts was roughly flat in April, after an upward revision to the March rate (increased from an initial… Read More ›
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Builder Confidence Climbs to 70 in May
Builder confidence in the market for newly-built single-family homes rose two points to a level of 70 in May after a downwardly revised April reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the fourth time the HMI has reached 70 or higher this year. The solid May report shows that builders are buoyed… Read More ›
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Count of Unfilled Construction Jobs Near Cycle High
The count of unfilled jobs in the construction sector increased in March and approached the post-Great Recession high level. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs increased to 248,000 in March. The post-recession high count of open, unfilled construction jobs was 255,000 in July of last… Read More ›
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Small Gain for Housing Starts in March
Total housing starts increased slightly in March, led by multifamily construction strength. Starts increased 1.9% to a 1.32 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. However, the pace of single-family starts declined in March, falling 3.7% to an 867,000 seasonally adjusted annual rate, due to lingering weather effects in some parts… Read More ›
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Builder Confidence Slips One Point, Remains in Solid Territory
Builder confidence in the market for newly-built single-family homes edged down one point to a level of 69 in April on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) but remains on firm ground. Strong demand for housing is keeping builders optimistic about future market conditions. However, builders are facing supply-side constraints, such as a lack of… Read More ›
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Construction Job Openings Higher Year-Over-Year
The count of unfilled jobs in the construction sector declined in February, but remains higher than a year ago. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs came in at 196,000 in February. The post-recession high count of open, unfilled construction jobs was 255,000 in July of… Read More ›
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Housing Share of GDP
With the release of the final estimate of fourth quarter 2017 GDP growth (a 2.5% annual growth rate), housing’s share of gross domestic product (GDP) rose slightly to 15.4%. The home building and remodeling component – residential fixed investment – also increased slightly, rising to 3.5%. Housing-related activities contribute to GDP in two basic ways. The first is through residential fixed investment (RFI). RFI is effectively the measure… Read More ›
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February New Home Sales Flat After Upward Revisions to Prior Months
Contracts for new, single-family home sales were effectively flat in February, inching down 0.6% to a 618,000 seasonally adjusted annual rate, according to estimates from the joint release of HUD and the Census Bureau. Matching solid readings of the NAHB/Wells Fargo HMI measure of home builder confidence, new home sales data for prior months were revised up. For example, the initial January estimate… Read More ›