Tag Archive for ‘home building’

Construction Job Openings Continue to Rise

The count of unfilled jobs in the overall construction sector increased in September, as residential construction employment continued to grow. 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) grew to 221,000 in September, after establishing a cycle high of 225,000 in July. The July estimate represents the highest monthly count of… Read More ›

Mortgage Rates Tick Up as LTV Ratio Ticks Down

Interest rates on conventional mortgages ticked up over the month of September 2016 according to data released by the Federal Housing Finance Agency (FHFA). However the increase in mortgage rates reflected a rise in the effective rate on previously occupied homes. Rates on new homes fell in September. The FHFA data show that the effective rate on all homes ticked… Read More ›

Pending Sales Up

Boosted by increases in the West and South, the Pending Home Sales Index increased 1.5% in September, and climbed 2.4% higher than the same month last year. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 110.0 in September from a downwardly revised 108.4 in August…. Read More ›

Composition of New Home Sales Financing Shifts in Third Quarter

NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that the composition of mortgages by financing method shifted over the third quarter of 2016. The share of new home sales financed with conventional loans expanded at the expense of FHA-insured and VA-backed mortgages. The shift to conventional mortgages indicates continued return to health in the… Read More ›

FHA Mortgage Share Increased in 2015

Recent data released under the Home Mortgage Disclosure Act (HMDA) on mortgage loans indicates that the FHA-insured share of all 1-4 family mortgage originations in owner-occupied homes increased in 2015. At the same time, refinancings relative to home purchase and home improvement mortgages also rose, especially for FHA-insured mortgages. The HMDA was enacted by Congress in 1975 and was implemented… Read More ›

Framing Methods for Single-Family Homes: 2015

Wood framing remains the most dominant construction method for single-family homes in the U.S., according to NAHB analysis of Census Bureau data. For 2015 completions, 93% of new homes were wood-framed. Another 7% were concrete homes, and less than half a percent were steel-framed. In absolute number terms, 603,000 single-family homes were completed in 2015 and had wood frames. Concrete homes totaled… Read More ›

Garages in New Homes: 2015 Data

A majority of new homes that completed construction in 2015 included two-car garages, according to NAHB analysis of Census Bureau Survey of Construction data. For new single-family completions in 2015, 61% of homes offered a two-car garage. Another 24% of homes possessed a garage large enough to hold three or more cars. Just 6% of newly-built homes had a one-car garage, and only 1%… Read More ›

First-Time Buyers Step Up

Existing home sales, as reported by the National Association of Realtors (NAR), increased 3.2% in September and were up 0.6% from the same month a year ago, as first-time buyers seized a 34% share of sales. Total existing home sales in September increased to a seasonally adjusted rate of 5.47 million units combined for single-family homes, townhomes, condominiums and co-ops,… Read More ›

September Housing Starts Decline on Multifamily Weakness

The September pace of total housing starts decreased 9% due a substantial decline in multifamily production. Single-family construction continues, as expected, along a positive trend. According to estimates from the Census Bureau and the Department of Housing and Urban Development, single-family starts increased 8.1% to a 783,000 seasonally adjusted annual rate in September. Year-to-date, single-family housing starts are running almost 10% higher… Read More ›