Tag Archive for ‘home building’

Hints of Growth in Typical Multifamily Unit Size

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 post-recession increase in the size of… Read More ›

Existing Sales Disappoint

Existing home sales decreased 4.9% in January, and the share of sales for first-time buyers continued to disappoint. The National Association of Realtors (NAR) reported January 2015 total existing home sales at a seasonally adjusted rate of 4.82 million units combined for single-family homes, townhomes, condominiums and co-ops, down from a revised 5.07 million units in December. January existing sales… Read More ›

Townhouse Market Expanded in 2014

Townhouse construction grew during 2014. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, single-family attached starts totaled 19,000 for the fourth quarter of 2014, 12% higher than a year prior. Over the course of 2014, townhouse construction starts totaled 72,000, up slightly from the 68,000 starts total of 2013. Using a one-year moving… Read More ›

Single-Family Built-for-Rent Market Remains Off Cycle Highs

Single-family homes built-for-rent held steady at 7,000 starts for the fourth 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, the… Read More ›

Continued Easing Conditions for AD&C Loans

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. In the fourth quarter of 2014, the overall net tightening index based on the AD&C survey improved (i.e., declined) from -31.0 to -35.7. The index is constructed so negative numbers indicate easing of credit; positive tightening, so… Read More ›

Growth for Custom Home Building

The custom home building market experienced significant growth during 2014. NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of starts of homes built on an owner’s land, with either the owner or a builder acting as the general contractor, totaled 162,000 for 2014. This marks a growth rate of 20%… Read More ›

New Single-Family Home Size Declined in 2014

The typical size of newly built single-family homes declined during 2014. Despite the recent cooling, current typical new home size reflects 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 fourth quarter 2014 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor… Read More ›

Housing Starts Decline in the Midwest

The pace of housing starts declined 2% in January, including a significant decrease in single-family construction in the Midwest connected to weather factors. Nonetheless, the current pace of home construction remains strong and growth should continue in 2015. According to the joint Census Bureau and HUD release, the seasonally adjusted annual rate of housing starts came in at 1.065 million, down from… Read More ›

Builder Confidence Slightly Lower in February

Builder confidence in the market for newly built, single-family homes in February fell two points to a level of 55 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder sentiment remains fairly solid, with this slight downturn largely attributable to the unusually high snow levels across much of the nation.   For the past eight months,… Read More ›