Tag Archive for ‘home building’

New Single-Family Home Size Leveling Off?

New single-family home size trended lower during the second quarter 2020 at the beginning of what we are forecasting will be a pivot to larger home size over the next two years. According to second quarter 2020 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked down to… Read More ›

Custom Home Building Outperformed the Market During 2Q20

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building performed better than the overall building market during the challenging second quarter of 2020. This relative outperformance is at odds with the conventional narrative that spec home building saw outsized gains during the April to June time period. There were 45,000… Read More ›

Housing Starts Gain Ground in July

Single-family housing permits and starts expanded in July as housing demand and construction remains a bright spot for the overall economy. Demand is being supported by low interest rates and a renewed focus on the importance of home amid the virus crisis. Single-family starts in July were estimated by Census/HUD at a 940,000 seasonally adjusted annual rate, after a revised… Read More ›

Housing Rebound: Year-over-Year Gains for June Single-Family Permits

Over the first six months of 2020 – and after the onset of the impact of the coronavirus – total single-family permits issued year-to-date (YTD) nationwide reached 433,484. On a year-over-year (YoY) basis, this is an 3.8% increase over the June 2019 level of 417,453. Year-to-date ending in June, single-family permits across the four regions ranging from an increase of… Read More ›

Again, Credit for Builders Tightens While Rates Decline

Builders and developers responding to NAHB’s survey on financing for Acquisition, Development and Construction (AD&C) indicated that credit continued to become tighter in the second quarter of 2020.  The net tightening index derived from the survey came in at 12.0, after reaching an 8 1/2-year high of 22.7 in the first quarter. The index is constructed so that positive  numbers… Read More ›

Housing Share of GDP Climbs to 13-Year High

Housing will lead the economic recovery. Due to low mortgage interest rates, a renewed focus on the importance of home, and a lack of for-sale inventory, housing data has been a relative bright spot as the overall economy struggles to establish a rebound. Due to this broader weakness (GDP declined at a -32.9% rate for the second quarter) and gains… Read More ›

New Home Sales Jump in June

New single-family home sales jumped in June, as housing demand was supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs and exurbs. Census and HUD estimated new home sales in June at a 776,000 seasonally adjusted annual pace, a 14% gain over May and the strongest seasonally… Read More ›

Affordable Housing Credit Beneficiaries: 2020 Update

The affordable housing credit (the Low-Income Housing Tax Credit or LIHTC) plays a critical role in the housing sector by ensuring a supply of attainable rental housing. Created as part of the 1986 tax reform legislation, the LIHTC has been responsible for financing the development or preservation of more than 3.2 million rental homes. Moreover, the housing credit has been… Read More ›

Freddie Mac Identifies 1.4 Million ADUs

Using the 1997-2019 Multiple Listing Service (MLS) transactions data, new Freddie Mac’s study identified 1.4 million properties with Accessory Dwelling Units (ADUs) in the United States. The study showed that first-time listings with ADUs grew most rapidly during the last decade, averaging 8.6% per year. The expansion of listings with ADUs was fastest in high-cost fast-growing areas in the South… Read More ›