Tag Archive for ‘home building’

Existing Sales Stumble

Existing home sales, as reported by the National Association of Realtors (NAR), decreased 3.2% in July and were down 1.6% from the same month a year ago, the first year-over-year decline since November 2015. Total existing home sales in July decreased to a seasonally adjusted rate of 5.39 million units combined for single-family homes, townhomes, condominiums and co-ops, down from… Read More ›

Mortgage Debt Continues to Grow

According to the Household Debt and Credit Report released by the Federal Reserve Bank of New York (FRB NY), the outstanding amount of housing-related debt, both home mortgages and home equity lines of credit (HELOCs), totaled $8.8 trillion in the second quarter of 2016, 2.6% ($225 billion) greater than the level from one year ago. However, the outstanding amount of home equity… Read More ›

New Home Sales Heat Up in July

July new home sales recorded the strongest monthly pace since October 2007, growing to a 654,000 seasonally adjusted annual rate. According to estimates from the Census Bureau and Department of Housing and Urban Development, the elevated July rate marked a 12.4% gain over downwardly revised, but still strong, estimates for June. On a year-to-date basis, new home sales have improved… Read More ›

New Multifamily Rental Share Remains Strong

An elevated market share for new rental multifamily homes is holding typical apartment size below levels seen during the pre-recession period. However, as multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. The recent pattern of change in the size of new multifamily units stands in contrast to the post-recession increase in the size… Read More ›

Jump in Single-Family Built-for-Rent Construction

The number of single-family homes built-for-rent has posted solid gains over the last year. However, the built-for-rent market is a small portion of the total single-family development, so care must be taken when identifying trends. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent, as measured on a… Read More ›

Custom Home Building Steady

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of custom home building starts (homes built on an owner’s land, with either the owner or a builder acting as the general contractor) posted a slight increase on a year-over year basis as of the second quarter of 2016. There were 47,000 total custom… Read More ›

New Single-Family Home Size Declining

After increasing and leveling off in recent years, new single-family home size declined during the second quarter of 2016. This change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. As the entry-level market expands, including growth for townhouses, typical new home size is expected to… Read More ›

Townhouse Construction Market Expansion

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction starts continued to outpace the rest of the single-family market during the second quarter of 2016. Over the last four quarters ending with the second quarter of 2016, townhouse starts totaled 98,000, a more than 25% gain over prior year total…. Read More ›

Multifamily Strength in July

The July pace of total housing starts increased 2.1% over the June rate, led by strength in the multifamily sector. However, year-to-date measures continue to be consistent with the NAHB forecast of growth for single-family construction this year, as well as a slight dip for apartment development compared to 2015 levels. According to estimates from the Census Bureau and the Department… Read More ›

Builder Confidence Rises in August

Builder confidence in the market for newly constructed single-family homes in August rose two points to 60 from a downwardly revised reading of 58 in July on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence remains solid in the aftermath of weak GDP reports that were offset by positive job growth in July. Historically low mortgage rates,… Read More ›