Tag Archive for ‘housing’

Pending Existing Homes Sales Reaches Nine-Year High

The NAR Pending Home Sales Index increased for the fourth straight month in April to a level 14% above April of 2014. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts produced by the National Association of Realtors (NAR), increased 3.4% in April to 112.4, up from an upwardly revised 108.7 in March. The PHSI increased year-over-year for the eighth consecutive… Read More ›

AD&C Loan Growth at the Start of 2015

The volume of residential AD&C loans outstanding expanded 4.8% during the first quarter of 2015, marking the 8th consecutive quarter of growth. The tight availability of acquisition, development and construction (AD&C) loans has been a factor holding back a stronger rebound in home construction. According to data from the FDIC and NAHB analysis, the outstanding stock of 1-4 unit residential construction loans made… Read More ›

Lot Shortage: A Lingering Problem for Builders

In a May 2015 survey conducted by NAHB, 62 percent of builders reported that the overall supply of developed lots in their areas was low to very low, up 2 percent from May 2014, but up from 43 percent in September 2012.  Sixty-two percent is the largest low supply percentage recorded since NAHB began periodically asking the question in 1997 on… Read More ›

Townhouse Production Holds Steady

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, single-family attached starts totaled 14,000 for the first quarter of 2015, effectively unchanged from a year prior. Over the last four quarters, townhouse starts totaled 73,000 nationwide. Using a one-year moving average, the market share of new townhouses stands at 11% of all single-family… Read More ›

Increase for Typical New Multifamily Residence Size

An elevated market share for rental multifamily homes is holding typical new apartment size below levels seen during the housing boom. However, as multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. The recent pattern of change in the size of new multifamily units stands in contrast to the post-recession increase in the size of… Read More ›

Declines for Single-Family Built-for-Rent Market

Single-family homes built-for-rent declined to approximately 2,000 starts for the first quarter of 2015, compared to about 4,000 at the start of 2014. The share and count of built-for-rent starts are off post-recession highs and will approach historical norms as the housing market continues to expand. However, given the relatively small size of this market, care must be taken when tracing changes in the estimates. According… Read More ›

Eye on the Economy: Home Building Jumps in April

Home builders ratcheted up construction in April to a level not seen since November 2007. Total starts increased 20.2% from March to a seasonally-adjusted annual rate of 1.135 million. The increase was broad based, with a 16.7% jump in single-family starts to an annual pace of 733,000, the highest since January 2008, and a multifamily increase of 27.2% to an… Read More ›

Existing Home Sales Pause

Existing home sales declined 3.3% in April, despite the fact that almost half of April sales remained on the market less than one month. The National Association of Realtors (NAR) reported April 2015 total existing home sales at a seasonally adjusted rate of 5.04 million units combined for single-family homes, townhomes, condominiums and co-ops, down from an upwardly revised 5.21… Read More ›

Custom Home Building During the First Quarter of 2015

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of custom home building starts (homes built on an owner’s land, with either the owner or a builder acting as the general contractor) posted a slight decline on a year-over year basis from 27,000 starts at the beginning of 2014 to 26,000… Read More ›