Tag Archive for ‘building permits’

Multifamily Regional Market Shares Show Variation from First Quarter

The National Association of Home Builders’ Home Building Geography Index (HBGI) tracks the markets of single-family and multifamily residential construction and their recovery following the Great Recession. In the first quarter of 2019, the first “cut” of the HBGI was introduced, which was an urban density-based delineation of the housing market into seven geographical “regions”. The first quarter HBGI analysis… Read More ›

Single-Family Gains Limited to Rural Areas and Exurbs: 2Q19 HBGI

When NAHB’s Home Building Geography Index (HBGI) was unveiled, it examined construction along a population density-based delineation of U.S. counties into such geographies as suburbs, exurbs, rural areas, etc. The second quarter release introduces a new geography, manufacturing areas, while updating the first regional tracking, as described here. Of the seven “regions” of the HBGI, only exurbs and rural areas… Read More ›

Seriously Delinquent Loans Increase

The Mortgage Bankers Association’s (MBA) latest National Delinquency Survey, 2nd quarter of 2019 data, reveal state-level variation in the timeliness of mortgage payments. Overall, the “seriously delinquent” rate, i.e., the proportion of home mortgage loans that are 90+ days delinquent or in the process of foreclosure, remained unchanged at 2.0% from the previous quarter1. The number of loans, however, in… Read More ›

Small City Single-Family Building Growth Slowing

After several years of steady construction gains, single-family construction in small cities experienced a net deceleration of growth going into 2019. Such areas represent 37% of all single-family construction nationwide. With a population of nearly 95 million, small cities in the U.S. account for about 30% of the U.S. population and therefore serve as a good “demographic and economic microcosm”… Read More ›

Single-Family Market Share Change

As tracked by the NAHB HBGI, the changing geographic shares of single-family construction across the U.S. reflect the evolution of home building. As can be seen from the above figure, the market share of single-family permits for small city core areas declined slightly over the last eight years, starting initially from a little less than 30% of single-family home construction… Read More ›

Exurbs Grow During a Weak First Quarter per NAHB HBGI

Following the Great Recession, the National Association of Home Builders created the Leading Market Index (LMI) to track the recovery of the housing market based on three factors: employment, house price indices, and housing construction. As the recovery transitioned into a period in which supply-side elements (land, labor, lumber, lending and laws) were limiting factors and housing affordability declined, the… Read More ›

New Home Prices by Metro Area and State

In response to frequent requests from its members, NAHB Economics recently released its estimates of new single-family home prices by state and metro area. The most expensive new single family homes are built and sold in three Northeastern states: Connecticut, Massachusetts and New York – with their respective median new single-family home prices of $491,425, $432,724 and $411,169. District of… Read More ›