Tag Archive for ‘home building’

Single-Family Built-for-Rent Market Share Closer to Historical Levels

Single-family starts built-for-rent held steady at 6,000 starts for the third quarter of 2014. While the market share of built-for-rent single-family homes remains somewhat elevated, the share and count of starts are off post-recession highs and will approach historical norms as the housing market continues to recover. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis,… Read More ›

Multifamily Market Sentiment Off Recent Peak

NAHB’s Multifamily Production Index (MPI) reached 54 in the third quarter, four points below the previous quarter’s reading. This is the 11th consecutive quarter with a reading of 50 or above. The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its… Read More ›

Existing Momentum

Existing home sales increased in October for the second consecutive month, and exceeded year-over-year levels for the first time in a year, despite no improvement among first-time buyers. Existing home sales increased 1.5% in October, and were 2.5% above the same period a year ago. The National Association of Realtors (NAR) reported October 2014 total existing home sales at a… Read More ›

Multifamily Built-for-Rent Share Remains High

An elevated market share for rental multifamily homes is holding typical new apartment size below levels seen during the housing boom. 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 general rise in the size… Read More ›

Single-Family Home Size Leveling Off as Market Recovers

The average size of newly built single-family homes has declined for two consecutive quarters as the overall housing market recovers. Despite the recent leveling, current new home sizes reflect post-recession increases due to an atypical mix of home buyers. As more first-time buyers return to the market, typical home size will continue to post slight quarterly declines. According to third quarter 2014 data from the Census Quarterly Starts and… Read More ›

Housing Construction Continues Upward Trend

Single-family home construction increased 4.2% in October to top off at 696,000 on an annualized basis. This rate is the second highest since early 2008. Single-family permits also rose 1.4% to 640,000 and were also the highest since early 2008 except for November of last year. Overall starts were down 2.8% but remaining just over one million and driven down… Read More ›

Builders Continue Optimism

The November NAHB/Wells Fargo Housing Market Index rose four points to a level of 58 as builders continue to see promise in home selling. This marks the fifth consecutive month for the index to remain above the tipping point of 50 after a slow beginning to the year. All three components rose with current sales rising five points to 62,… Read More ›

Mortgage Delinquency Rates Fall

Recently released data from the Mortgage Bankers Association (MBA) shows that the share of mortgages that are considered delinquent fell. On a seasonally adjusted basis, the share of mortgages past due declined over the third quarter of 2014 by 19 basis points to 5.85%. Over the past year, the proportion of mortgages past due decreased by 66 basis points from… Read More ›

Evolving Building Codes: Many Builders Worry about Costs without Benefits

Many single-family builders are worried about the cost implications of the way building codes are evolving, especially codes associated with fire sprinklers and energy efficiency, a recent NAHB survey finds. Originally, building codes were designed to establish minimum safety standards for newly built structures, but codes have increasingly been seen as a tool for advancing other public policies, such as… Read More ›

Job Openings Decline with a Rise in Hiring

The number of open, unfilled construction sector positions declined in September, after increases in hiring during the end of the summer. Nonetheless, the current open job rate exceeds the average for 2011, 2012, and 2013. According to the BLS Job Openings and Labor Turnover Survey (JOLTS), the number of open construction sector jobs for September (on a seasonally adjusted basis) stood at 98,000, down… Read More ›