Tag Archive for ‘home building’

Existing Sales Continue to Increase

Existing home sales increased for the fourth consecutive month and the share of distressed sales decreased, making the report positive news for future new home sales because each prospective repeat buyer must sell their existing home before buying a newly built home. Existing home sales increased 2.4% in July, but are still 4.3% below the same period a year ago…. Read More ›

Custom Home Building Grows During the Second Quarter

Custom home building recorded growth during the second quarter of 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, rose from 39,000 for the second quarter of 2013 to 48,000… Read More ›

Eye on the Economy: Home Construction Rebounds in July

After a disappointing June report, housing starts rebounded to an annual rate of 1.093 million for a 15.7% increase over the upwardly revised June level. The substantial June dip, caused by a fall in single-family construction in the South, was eliminated as single-family construction rose 8.3% with increases in three of the four regions. Midwest single-family starts were down 6.8%… Read More ›

Single-Family Built for Rent Market Holding Steady

Single-family starts built-for-rent increased somewhat to 6,000 starts for the second quarter of 2014. While the market share of built-for-rent single-family units remains somewhat elevated, the share and count of starts appear to be remaining off post-Great Recession highs. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent, as… Read More ›

Growth of New Single-Family Home Size Cools

The average size of newly built single-family homes was effectively unchanged during the second quarter of 2014. However, current levels reflect recent increases in typical new home size due to an atypical mix of new home buyers. According to second quarter 2014 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, average single-family square floor area decreased from 2,727 to 2,653 square feet,… Read More ›

Housing Construction Rebounds

After a dismal June report, housing starts rebounded to an annual rate of 1.093 million for a 15.7% increase over the upwardly revised June level. The substantial June dip caused by a fall in single-family construction in the South was wiped out as single-family construction rose 8.3% for the US with increases in three of the four regions. Midwest single-family… Read More ›

Builders’ Confidence Continues to Build

Home builders confidence is marching toward the 2014 high established in January as more buyers return to the market. The August NAHB/Wells Fargo Housing Index rose two more points to 55 approaching the 2014 high in January of 56. All three subcomponents of the index also increased, two to a high for the year. Expectations for the next six months… Read More ›

Affordability Approaches Pre-2004 Norm as Prices Firm

Housing affordability dipped slightly in the second quarter of 2014 as several markets saw a firming of home prices, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI).  Nationwide, the second quarter HOI was 62.6—i.e., 62.6 percent of new and existing homes sold during the quarter were affordable to a family earning the U.S. median income of $63,900—down about three percentage points from the first… Read More ›

Residential Construction Employment Up More Than 300,000 Since Start of 2011

The number of open, unfilled construction sector jobs posted a small increase in June, as the count of job gains in the residential construction sector passed the 300,000 mark since cycle lows. According to the BLS Job Openings and Labor Turnover Survey (JOLTS), the number of open construction sector jobs increased on a seasonally adjusted basis from a downwardly revised 125,000 in May to 127,000 in… Read More ›