Tag Archive for ‘home building’

Serious Delinquency Rates Improve Across Most Household Debts

A recent release by the Federal Reserve Bank of New York indicates that, in aggregate, 90 or more day delinquency rates are falling on most household debt products. However, serious delinquency on student loans remains elevated while a greater portion of auto debt held by households with low credit scores is entering serious delinquency. The results indicate that household balance… Read More ›

Pending Sales Maintain Pace

The Pending Home Sales Index increased a slight 0.1% in October, but was 1.8% higher than last October. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 110.0 in October from a downwardly revised 109.9 in September. The PHSI increased 1.6% in the Midwest, 0.7% in… Read More ›

AD&C Lending Expands

The volume of residential construction loans jumped by 4.8% during the third quarter of 2016, marking 14 consecutive quarters of growth and setting the highest quarterly growth rate since the summer of 2014. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting factor for home building growth, but easing credit conditions and a growing loan base have helped expand residential construction activity in a thin inventory environment. According… Read More ›

Existing Sales Revival

Existing home sales, as reported by the National Association of Realtors (NAR), increased 2.0% in October and reached the highest pace since February 2007. In October sales increased for the second straight month, and were up 5.9% from the same month a year ago. Total existing home sales in October increased to a seasonally adjusted rate of 5.60 million units… Read More ›

New Multifamily Construction Dominated by Rental Production

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 ›

NAHB Survey: AD&C Financing Standards Continue to Ease

Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans according to NAHB’s survey on AD&C Financing. However, the pace of easing slowed somewhat in the third quarter of 2016 from the rate in the second quarter. In the third quarter of 2016, the overall net tightening index based on the AD&C survey was… Read More ›

Post-Recession High Set for Custom Home Building

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) set a post-recession high for construction starts during the third quarter of 2016. There were 49,000 total custom… Read More ›

Single-Family Home Size Trending Lower

After increasing and leveling off in recent years, new single-family home size continued to trend lower during the third quarter of 2016. This ongoing 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… Read More ›

Builder Confidence Holds Firm in November

Builder confidence in the market for newly-built single-family homes held steady in November at a level of 63 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder sentiment has held well above 60 for the past three months, indicating that the single-family housing sector continues to show slow, gradual growth. Ongoing job creation, rising incomes and… Read More ›