Tag Archive for ‘home building’

Builder Confidence Holds Steady in March

Builder confidence in the market for newly-built single-family homes held steady at 62 in March, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builders report the market is stabilizing following the slowdown at the end of 2018, and they anticipate a solid spring home buying season. In a healthy sign for the housing market,… Read More ›

Construction Job Openings Hold Steady In January

After significant data revisions for 2018, new data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings remained near a cycle high as of January, an indication that the skilled labor shortage continues into 2019. The open position rate (job openings as a percentage of total employment plus current job openings) held steady at 3.9%. The… Read More ›

New Home Sales Distribution Highlights Affordability Opportunity

Upward revisions to December and November data resulted in a 6.9% decline for new single-family homes sales in January, according to data from the joint release of HUD and the Census Bureau. The seasonally adjusted annualized January pace of 607,000 was 4.1% lower than January of 2018; however, combined with lower mortgage interest rates, the first monthly rate for 2019 establishes a solid… Read More ›

Built-for-Rent Construction Dominates Apartment Development

An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. According to fourth quarter 2018 data, the average per unit square footage of multifamily housing construction starts was 1,136, off from the… Read More ›

Single-Family Built-for-Rent Construction Posts Gain in 2018

The number of single-family homes built-for-rent increased over the course of 2018, as construction starts of this type of housing totaled 43,000 homes, compared to 37,000 for 2017. There were 10,000 single-family built-for-rent starts for the final quarter of 2018. 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… Read More ›

Flat Conditions for Custom Home Building

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building was effectively flat over the course of 2018. There were 36,000 total custom starts for the fourth quarter of 2018. This was down compared to the final quarter of 2017 (40,000). Over the course of 2018, custom housing starts totaled 170,000. This… Read More ›

Permit Growth Stable in December

Over the year 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 852,856. On a year-over-year basis, this is a 4.3% increase over the December 2017 level of 817,319. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits for the year 2018, was 852,700 which is 4.0% ahead of its level over… Read More ›

New Single-Family Home Size Continues Decline

Continuing a multiyear trend, new single-family home size decreased during the final quarter of 2018. According to fourth quarter 2018 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked down to 2,316 square feet. Average (mean) square footage for new single-family homes increased to 2,567 square feet. On a less volatile one-year moving average,… Read More ›

Despite Slow Quarter, Townhouse Construction Expanded in 2018

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction posted outperformed other building sectors over the course of 2018. However, like other submarkets, townhouse construction softened during the fourth quarter. Nonetheless, townhouse construction is set for further expansion given the demographics of renters entering the for-sale market, as well as… Read More ›

Total Housing Starts Rebound in January

Total housing starts increased 18.6 percent in January 2019 (1.230 million units) compared to a revised down December estimate of 1.037 million units. However, total starts are 7.8 percent below the January 2018 level of 1.334 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department that was delayed due to the partial government… Read More ›