Tag Archive for ‘home building’

AD&C Financing Conditions Ease, But At A Slower Pace

Builders and developers responding to NAHB’s AD&C Financing Survey continue to report easing credit conditions for acquisitions, development, and single-family construction loans. In the second quarter of 2017, the overall net tightening index based on the AD&C survey was -10.7, indicating net easing. All major categories of AD&C financing also recorded net easing, but land acquisition and single-family construction loans… Read More ›

Pending Sales Continue to Slide

The Pending Home Sales Index decreased in July for the fourth time in five months, and now has decreased year-over-year in three of the past four months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 0.8% to 109.1 in July from a downwardly revised 110.0 in… Read More ›

Strong Q2 GDP Growth Confirmed

The pace of growth in the nation’s economy over the second quarter of 2017 was stronger than originally believed. According to the Bureau of Economic Analysis within the U.S. Department of Commerce, real gross domestic product (GDP) is now estimated to have increased by a seasonally adjusted annual rate of 3.0 percent in the second quarter. The original or “advance”… Read More ›

Modest Expansion for Residential Construction Loans

The volume of residential construction loans increased by 1.2% during the second quarter of 2017, marking 17 consecutive quarters of growth. However, the growth rate for lending since the end of 2016 has slowed. 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 ›

July Existing Sales Slow Again

Despite gains in the West and South, existing home sales fell for a second consecutive month, declining 1.3 % in July, but remained 2.1% above the pace a year ago. Some 51% of homes sold last month were on the market less than a month as buyers overcame low inventory and higher prices. July inventory declined 1.0%, and is now… Read More ›

New Home Sales Falter After Encouraging Spring

According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, sales of new single-family homes fell 9.4 percent over the month of July to a seasonally adjusted annual rate of 571,000. Despite the declines, sales over the first seven months of 2017 are 9.2 percent above their level over the same period in 2016. The… Read More ›

Gains for Custom Home Building

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates ongoing expansion of the volume of custom home building but slight declines in terms of overall market share. Over the last four quarter period, ending with the second quarter of 2017, there were 171,000 total custom single-family home starts, an increase of more… Read More ›

Townhouse Construction Flat

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction starts have slowed relative to the expansion of the overall building market. Over the last four quarters ending with the second quarter of 2017, townhouse starts totaled 94,000, 5% lower than the four quarters prior this past year. Townhouses, or… Read More ›

New Single-Family Home Size Trends Lower

After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the second quarter of 2017.  This change of the last two years 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… Read More ›

Single-Family Starts Flat in July

The pace of single-family starts was effectively flat in July, after a strong rate was recorded in June. In contrast, the multifamily market continues to slow after multiple strong years. Total starts declined almost 5% in July to a 1.155 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The headline decline… Read More ›