Tag Archive for ‘home building’

Existing Sales Fall

Existing-home sales in September declined 3.4% to the lowest level since November 2015, and are now down 4.1% from a year ago. The first-time buyer share of 32% was up from 31% last month and 29% a year ago. The National Association of Realtors reported that 47% of homes sold in September were on the market less than a month…. Read More ›

Unfilled Construction Sector Jobs Continue to Rise

The count of unfilled jobs in the construction sector increased in August, reaching yet another post-Great Recession high level. The rate of open construction sector jobs also set a cyclical high. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs increased to 298,000 in August. The prior post-recession high… Read More ›

Builder Confidence Rises One Point in October, Remains at Summer Levels

Builder confidence in the market for newly-built single-family homes rose one point to 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence levels have held in the high 60s since June. Builders continue to view solid housing demand, fueled by a growing economy and a nearly 50-year low for unemployment. Lumber price… Read More ›

Single-Family Residential Permits Decline in Northeast

Over the first eight months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 599,117. On a year-over-year basis, this is a 6.6% increase over the August 2017 level of 561,938. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first eight months of 2018 was, 599,200 which is… Read More ›

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 ›