Tag Archive for ‘home building’

Single-Family Starts Stable in October as Caution Grows

Total housing starts posted a 1.5 percent increase in October (1.23 million units) compared to a revised September estimate of 1.21 million units. However, total starts are 2.9 percent below lower than October 2017. Despite the recent market softness, 2018 is still shaping up to be the best year since the recession. Total housing starts are 5.6 percent higher for… Read More ›

Builder Confidence Drops as Housing Affordability Issues Rise

Growing affordability concerns resulted in builder confidence in the market for newly-built single-family homes falling eight points to a level of 60 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite the sharp drop, builder sentiment still remains in positive territory. Builders report that they continue to see signs of consumer demand for new… Read More ›

Single-Family Permits: Declines in the Midwest and Northeast

Over the first nine months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 664,665. On a year-over-year basis, this is a 5.7% increase over the September 2017 level of 628,858. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first nine months of 2018 was, 663,800 which is… Read More ›

Modular and Other Non-Site Built Housing

The total market share of non-site built single-family homes was 3.3% of single-family completions in 2017, according to Census Bureau Survey of Construction data and NAHB analysis. This share is expected to rise in 2018 and in the years ahead, due to the ongoing labor shortage in the residential construction sector and the need to lift labor productivity amid declining… Read More ›

Open Construction Jobs Decline Off Cycle High

The count of unfilled jobs in the construction sector pulled back in September, off a upwardly revised August estimate that marked a post-recession high. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs decreased to 278,000 in September. The August estimate of open construction jobs was revised up… Read More ›

Sale and Contract Prices per Square Foot in 2017

Looking at single-family homes started in 2017, the median prices per square foot, excluding improved lot values, range from $155 for contractor-built homes in the Pacific division to $86 for speculatively built homes in the East South Central division. The median sale and contract prices per square foot are up across most divisions. The most significant gains are registered in… Read More ›

Declines for Housing Share of GDP

With the release of the first estimate of third quarter 2018 GDP growth (a 3.5% annual growth rate), housing’s share of gross domestic product (GDP) fell slightly to 14.9%. The home building and remodeling component – residential fixed investment – also decreased slightly, falling to 3.25% Housing-related activities contribute to GDP in two basic ways. The first is through residential fixed investment (RFI). RFI is… Read More ›

Pending Home Sales Stabilize

Pending home sales increased in September, but have decreased on an annual basis for nine consecutive months. The Pending Home Sales Index increased 0.5% in September, but remains down 1.0% year-over-year. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI increased to 104.6 in September,… Read More ›

Share of New Homes with Patios Climbs over 58 Percent

Of the roughly 850,000 single-family homes started in 2017, 58.6 percent included patios, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).  Among the outdoor features captured in the SOC, this makes patios considerably more common than decks (included on 23.8 of homes started in 2017),… Read More ›