Tag Archive for ‘home building’

Garages in New Homes: 2017 Data

A majority of new homes that completed construction in 2017 included two-car garages, according to NAHB analysis of 2017 Census Bureau Survey of Construction data. There is clear uniformity for parking options in new homes completed across the Census divisions. Except for West North Central division, the 2-car garage was the largest share of the completed homes in all other divisions…. Read More ›

New Homes Built with Private Wells and Individual Septic Systems in 2017

NAHB Economics analysis of the Survey of Construction (SOC) data shows that about 9% of new single-family homes started in 2017 were served by individual wells and more than 16% have private septic systems. These shares, however, vary widely across the nine Census divisions with the corresponding shares reaching 39% and 43% in New England – the highest occurrence rates… Read More ›

Share of New Homes with Decks Remains Stable

Of the roughly 850,000 single-family homes started in 2017, 23.8 percent included decks, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).  This is little changed from the 23.7 percent recorded a year earlier. From 2005 to 2008, the share of new homes with decks was… Read More ›

Pending Home Sales Continue to Slide

Pending home sales have decreased on an annual basis for eight consecutive months, and have declined month over month in four of the past five months. The Pending Home Sales Index decreased 1.8% in August, and is now down 2.3% year over year. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the… Read More ›

Fed Raises Funds Rate

As expected, at the conclusion of its September meeting the Federal Reserve’s Open Market Committee raised the short-term federal funds rate 25 basis to a range of 2% to 2.25% . Markets and forecasters are confident that an additional 25 basis point increase will occur in December. The change in monetary policy occurs as the 10-year Treasury rate, which generally moves… Read More ›

Summer Sales Soft Patch Continues

Contracts for new, single-family home sales increased slightly in August, expanding 3.5% to a 629,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. However, the gain came off downwardly revised estimates for June and July, consistent with the summer soft patch for new and existing home sales. The June reading was revised down from… Read More ›

Existing Sales Steady

Existing-home sales were unchanged in August, and are 1.5% below the level a year ago. The first-time buyer share of 31% was down from 32% last month and unchanged from a year ago. The National Association of Realtors reported that 52% of homes sold in August were on the market less than a month. The August inventory was also unchanged,… Read More ›

Builder Confidence Remains Firm in September

Builder confidence in the market for newly-built single-family homes remained unchanged at a solid 67 reading in September on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite rising affordability concerns, builders continue to report firm demand for housing, especially as millennials and other newcomers enter the market. The recent decline in lumber prices from record-high levels… Read More ›