Tag Archive for ‘housing’

Contrasting Built-for-Rent and For-Sale New Single-Family Homes

How do homes built-for-rent differ from more common for-sale new single-family homes? This is an important question given recent attention on the built-for-rent sector of the residential construction industry. Second quarter data for 2019 reveal that approximately 42,000 homes were built-for-rent over the last year, representing about 5% of single-family construction. Though this figure continues to trend modestly higher as… Read More ›

Townhouse Construction Weaker

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction slowed during the second quarter of 2019 after a strong 2018 performance. This market softness matches recent data in the NAHB HBGI, which showed weak construction activity for large metro suburban markets at the start of 2019. Nonetheless, townhouse construction is… Read More ›

Homebuyer Preferences: Millennials vs. Other Generations

A recent study by NAHB reveals that millennials have a much stronger desire for certain bathroom features relative to older generations. The report compiled survey data between 2007 and 2018 and found that the share of home buyers who want whirlpool tubs declines as the older generations age but stays relatively constant for millennials. As of 2018, 70% of millennials… Read More ›

New Single-Family Home Size Continues Trending Lower

New single-family home size decreased during the second quarter of 2019 as interest rates declined. According to second quarter 2019 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked down to 2,245 square feet. Average (mean) square footage for new single-family homes declined to 2,465 square feet. On… Read More ›

Flat Conditions for Single-Family Built-for-Rent Construction

The number of single-family homes built-for-rent has held steady over the last year amidst declines for other forms of home construction. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were 11,000 single-family built-for-rent starts for the second quarter of 2019. This is lower than the 13,000 estimated for the… Read More ›

Single-Family Starts Continue Improvement in July

According to estimates from the U.S. Housing and Urban Development and Commerce Department, the pace of single-family construction continued to improve in July. After reaching a post-winter low annualized rate of 814,000 in April, single-family starts expanded to an 876,000 pace in July, a 1.3% gain over the revised June estimate. However, single-family starts remain 3.3% lower a on a… Read More ›

Builder Confidence Trending Higher as Interest Rates Move Lower

Builder confidence in the market for newly-built single-family homes rose one point to 66 in August, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Sentiment levels have held at a solid 64-to-66 level for the past four months. Even as builders report a firm demand for single-family homes, they continue to struggle… Read More ›

Top 10 Features Millennials Want—and Don’t Want

At least four out of five millennial buyers prefer laundry rooms, hardwood front exteriors, patios and garage storage.  Conversely, they give a thumbs down to elevators, wine cellars and laminate countertops. These were among the findings from a new study by the NAHB Economics team that focused on millennial home buying preferences. The 2018 survey asked recent and prospective buyers… Read More ›

Job Openings Slow, Still Higher Year-over-Year

Data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings declined in June, after a decline in May off a cycle high count for April. The estimated number of job openings in the construction sector fell back to 347,000 in June after reaching a post-Great Recession high of 434,000 in April. The decline occurred with… Read More ›