Tag Archive for ‘home building’

How New Homebuyers Finance Their Homes Across the Nation

NAHB analysis of the Census Bureau Survey of Construction (SOC) data shows that non-conventional forms of financing new single-family home purchases remained elevated in 2014, but their use and mix varied widely across the country. In the West North Central division, only 21 percent of new homes started in 2014 were purchased using non-conventional financing methods. The share was twice… Read More ›

Sale and Contract Prices per Square Foot in 2014

For single-family homes started in 2014, median prices, excluding improved lot values, range from $159 per square foot for contractor-built homes in the Pacific and New England divisions to $80 per square foot for speculatively-built homes in the East South Central division. The most expensive new single-family homes in 2014 were contractor-built homes in the Pacific and New England divisions with the… Read More ›

Pending Sales Retreat

The Pending Home Sales Index decreased in August, but has increased year-over-year for 12 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 1.4% in August, but is up 6.1% from the same month a year ago. While increasing in the West, the PHSI declined… Read More ›

Housing Share of GDP: Home Building Increasing

With the release of the final estimates of second quarter 2015 GDP growth (revised up to a 3.9% growth rate), housing’s share of gross domestic product (GDP) declined slightly to 15.31%. However, the home building and remodeling component – residential fixed investment – expanded for the third consecutive quarter to 3.21% of total GDP. Housing-related activities contribute to GDP in two basic ways. The… Read More ›

New Home Sales Continue Rise

Builders continue the modest rise in new home sales as reported by HUD and the Census Bureau. August new home sales, annualized and adjusted for seasonality, increased to 552,000. The August level was up 5.7% from an upwardly revised July and represents the highest level since February 2008. The steady, albeit modest, progression of new home sales reflects the steady… Read More ›

Vinyl is the Most Widely Used Exterior for New Homes

According to data from the Census Bureau’s Survey of Construction (SOC) and NAHB analysis, vinyl (including vinyl-covered aluminum) was the most common exterior wall material used in homes started in 2014 (29 percent), followed by stucco and brick or brick veneer (23 percent each), and fiber cement siding (such as Hardiplank or Hardiboard) (18 percent). The principal exterior wall material… Read More ›

Existing Sales Fall in August But First-Time Buyer Share Rises

Although existing home sales, as reported by the National Association of Realtors, decreased in August after three successive months of growth, the first-time home buyer share increased sharply to 32% from 28% in July. Total existing home sales decreased by 4.8% in August to a seasonally adjusted rate of 5.31 million units combined for single-family homes, townhomes, condominiums and co-ops,… Read More ›

Starts Drop in August, Permits Point to Growth

The pace of housing starts posted a small decline in August, but permits and builder confidence suggest ongoing, modest growth for the rest of the year. After a downward revision for July, total housing starts declined 3% to a seasonally adjusted annual rate of 1.126 million, as detailed in the joint release from the Census Bureau and HUD. The declines… Read More ›