Eye On Housing
Sales of new homes fell by 1.5 percent over the month of April to a seasonally adjusted annual rate of 662,000. According to the report released by the Census Bureau and the Department of Housing and Urban Development, the small monthly decline partly reflected a downward revision to the estimate of new home sales in March from 694,000 to 672,000…. Read More ›
The elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. However, size fell at the start of 2018 according to NAHB analysis of Census data. According to first quarter 2018 data, the… Read More ›
Builders and developers responding to NAHB’s AD&C Financing Survey continue to report easing credit conditions for acquisition, development, and single-family construction loans, over the first quarter of 2018, but the pace of easing slowed. At the same time, the majority of survey respondents indicated that the typical loan they obtained in the first quarter of 2018 was tied to a… Read More ›
The number of single-family homes built-for-rent increased over the last four quarters. During this timer period, construction starts of this type of housing totaled 37,000 homes, compared to 33,000 for the prior four quarters. There were 7,000 single-family built-for-rent starts for the first quarter of 2018. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB… Read More ›
Counter to the recent prevailing trend, new single-family home size increased at start of 2018. New home size had been falling over the last two years due to an incremental move to additional entry-level home construction. According to first quarter 2018 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area increased to 2,436 square… Read More ›
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 ›
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 ›
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 ›
According to a recent NAHB survey, “desire for better/newer amenities” and “need to repair/replace old components” once again ranked as the top reasons owners remodel their homes. However, several other reasons to remodel are gaining ground, particularly the desire to be able to age in place. The survey took the form of a special question on NAHB’s Remodeling Market Index (RMI) instrument for the first quarter of 2018. … Read More ›
Over the first quarter of 2018, the total number of single-family permits issued nationwide reached 199,861. On a year-over-year basis, this is a 6.0% increase over the March 2017 level of 188,593. The results from the SOC are similar, single-family permits over the third month of 2018 was, 198,600 which is 5.3% ahead of its level over the same period… Read More ›