Tag Archive for ‘home building’

2016 Custom Home Building Market Growth

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of 2016 custom home building starts (homes built on an owner’s land, with either the owner or a builder acting as the general contractor) set a post-recession high for an annual total. There were 41,000 total custom starts for the final… Read More ›

Townhouse Construction Growth Continues

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction starts continued to grow on a year-over-year basis. Over the course of 2016, townhouse starts totaled 97,000, a more than 12% gain over the prior year total. The townhouse market recorded a faster growth rate than the overall single-family market for 2016…. Read More ›

Mortgage Originations Grow in Q4

According to the Federal Reserve Bank of New York’s Household Debt and Credit Report, mortgage originations grew in the 4th quarter of 2016. Largely resulting from 4th quarter growth, origination volume in 2016 exceeded its level in 2015. This marks the second consecutive year of growth in originations. As the chart above illustrates, there was approximately $617 billion in originations… Read More ›

New Single-Family Home Size Trends

After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the fourth quarter of 2016. This ongoing change 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 expands, including growth for… Read More ›

Single-Family Housing Starts Post Slight Gain

Total housing starts recorded a small decline in January, as multifamily starts fell back, albeit from an upwardly revised number in December. Total starts were down 2.6%, falling to a 1.246 million seasonally adjusted annual rate. However, single-family starts posted a small monthly increase in January, rising 1.9% to an 823,000 annual rate As measured on a three-month moving average, the current changes… Read More ›

Non-mortgage Consumer Credit Grows at a Slower Pace

The total amount of consumer credit outstanding rose in 2016 as both revolving credit and non-revolving credit rose. The growth in consumer credit is being fueled by non-revolving loans, particularly student loans at the federal government and auto loans held by credit unions. According to the Federal Reserve Board’s Consumer Credit release, the total outstanding amount of consumer credit climbed… Read More ›

Residential Construction Employment Growing

The count of unfilled jobs in the overall construction sector declined recently, as residential construction employment accelerated in the last three months. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) came in at 148,000 in December. The cycle high was 225,000 set in July. The open position rate (job openings… Read More ›

Standards on CRE Loans Tighten as Demand Weakens

The most recent iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOS), which covers the fourth quarter of 2016, reports tightening of standards on multifamily residential and construction/land development loans. At the same time, demand, on net, also weakened. Previous analysis documented the tightening of credit standards, a measure of loan supply, on commercial real estate (CRE)… Read More ›

Nation Moves Closer to Recovery

For the country as a whole, the NAHB/First American Leadings Markets Index (LMI), released today, rose to .99 in the fourth quarter of 2016, .01 point higher than its level in the third quarter of 2016, .98, and .05 point higher than its level from one year ago, .94. The LMI is now .21 point above its low of .78… Read More ›

Mortgage Rates Rising

Information released by the Federal Housing Finance Agency, (FHFA) indicates that mortgage rates on purchases of newly built homes continued to increase in December 2016. After rising by 5 bps in November, contract mortgage rates increased by an additional 19 basis points in December. As of the end of 2016, the contract rate sits at 3.78 percent. The December rate… Read More ›