Data rss

Time to Build an Apartment Building in 2015

The average length of time to complete construction of a multifamily building, after obtaining authorization, was 14 months according to the 2015 Survey of Construction (SOC) from the Census Bureau. The permit-to-completion time increased by approximately one month from 2014 to 2015, as per unit median square footage and share of multifamily for sale rose.   The average time to… Read More ›

New Single-Family Housing Starts by Divisions

Using the public-use microdata files provided by Census Bureau’s Survey of Construction (SOC), NAHB Economics and Housing Policy group tabulated new single-family housing starts for the nine census divisions, including Pacific, Mountain, West North Central, West South Central, East North Central, East South Central, Middle Atlantic, South Atlantic, and New England. The map and figure below provide a more geographically… Read More ›

First Time Buyers Arrive

Existing home sales, as reported by the National Association of Realtors (NAR), increased 1.1% in June to the highest level since February 2007, as first-time buyers grabbed a 33% share, the best performance in four years. June existing sales are up 3.0% from the same month a year ago. Total existing home sales in June increased to a seasonally adjusted… Read More ›

Time to Build a Single-Family Home in 2015

The 2015 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 7 months, which usually includes almost a month from authorization to start and another 6 months to finish the construction. The timeline from authorization to completion, however, is not consistent across the nation, depending on the housing category,… Read More ›

Construction Gains in June

The June pace of single-family housing starts increased over a downwardly revised May reading, standing at a seasonally adjusted annual rate of 778,000 according to estimates from the Census Bureau and the Department of Housing and Urban Development. The June rate marks a 13% gain in the pace of single-family construction on a year-over-year basis. Multifamily starts were up slightly in June, rising to 411,000 starts. However,… Read More ›

Lot Values at Record High

Single-family lot prices set a new record in 2015, with half of the lots priced at or above $45,000. According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, this is the highest median lot value on record and exceeds the previous record of $43,000 reached in 2006, in the midst of the housing boom when twice… Read More ›

Builder Confidence Holds Firm in July

Builder confidence in the market for newly built, single-family homes in July fell one point to 59 from a June reading of 60 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). For the past six months, builder confidence has remained in a relatively narrow positive range that is consistent with the ongoing gradual housing recovery. However,… Read More ›

Headline Inflation Remained the Same in June

The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) for June. In June, overall inflation was the same as in May, while core inflation declined. The Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 2.6% in June, equal to the annual rate in May. Excluding the volatile food and energy components, “core” CPI… Read More ›

Slight Decline for Construction Job Openings as Hiring Slows

The count of unfilled jobs in the overall construction sector declined, but remained elevated, in May after setting a post-Great Recession high in March. Simultaneously, the rate of jobs being added to the residential construction sector has slowed noticeably over the last three months. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a… Read More ›

Consumer Credit Outstanding Partly Fueled by Strengthening Demand

Consumer credit outstanding grew by a seasonally adjusted annual rate of 6.2%, $222.7 billion, in the month of May 2016, 1.7 percentage points faster than the 4.5% rate of growth recorded in April. Consumer credit outstanding now totals $3.624 trillion. According to the Federal Reserve Board’s Consumer Credit report, the increase in total consumer credit outstanding partly reflected an expansion in the… Read More ›