Tag Archive for ‘housing’

In Four Southern States, Nearly 90 Percent of New Homes Have Porches

Of the roughly 850,000 single-family homes started in 2017, 64.7 percent were built with porches, according to NAHB tabulation of data from the Survey of Construction (SOC).  The SOC is conducted on an ongoing, monthly basis by the U.S. Census Bureau, partially supported with funding from the Department of Housing and Urban Development. Among other things, the SOC data show that, over the… Read More ›

Lot Size Remains Record Low

The median lot size of a new single-family detached home sold in 2017 stands at 8,560 square feet, or just under one-fifth of an acre. This is just 2 square feet smaller but statistically not different from the 2016 median. In 2015, the median lot size fell under 8,600 square feet for the first time since Census Bureau’s Survey of… Read More ›

Additional Growth for Residential Construction Loans

The volume of residential construction loans increased by 1.7% during the second quarter of 2018, marking 21 consecutive quarters of growth. Furthermore, recent stabilization of year-over-year growth rates is an indicator of continued, modest growth for single-family construction. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting factor for home building growth, but easing credit conditions and a growing loan base have helped expand residential construction… Read More ›

Credit Conditions for AD&C Loans Close to Stable

In the second quarter of 2018, credit conditions for land acquisition, development, and single-family construction loans were close to stable, according to NAHB’s AD&C Financing Survey. The overall net tightening index constructed from the survey was -5.0. The index is constructed so that negative numbers indicate credit easing, positive numbers indicate tightening, and zero indicates perfectly stable conditions. The second… Read More ›

Multifamily Built-for-Rent Share Remains Elevated

The elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. According to second quarter 2018 data, the average per unit square footage of multifamily housing construction starts was 1,139, off from the post-recession… Read More ›

Decline In New Home Sales In July

Contracts for new, single-family home sales declined in July, falling 1.7% to a 627,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The decline came off an upwardly revised June estimate, which was increased from an initial reading of 631,000 to a new estimate of 638,000. The July estimate was the lowest annual pace since… Read More ›

Multifamily Builder and Developer Confidence Edged Down Slightly in Second Quarter

Confidence in the multifamily market edged down slightly in the second quarter of 2018 with the Multifamily Production Index (MPI) falling two points to 51, according to the National Association of Home Builders (NAHB) (Figure 1). The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The… Read More ›

Single-Family Built-for-Rent Housing Expands

The number of single-family homes built-for-rent increased over the last four quarters. During this time period, construction starts of this type of housing totaled 42,000 homes, compared to 29,000 for the prior four quarters. There were 13,000 single-family built-for-rent starts for the second quarter of 2018. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB… Read More ›

Flat Conditions for Custom Home Building

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building remain flat. There were 50,000 total custom starts for the second quarter of 2018. This was effectively unchanged relative to the second quarter of 2017. Over the last four quarters, ending with the second quarter of 2018, custom housing starts totaled 172,000…. Read More ›

New Single-Family Home Size Continues Downward Trend

Continuing a multiyear trend, new single-family home size decreased during the second quarter of 2018. New home size has been falling over the last two years due to an incremental move to additional entry-level home construction. According to second quarter 2018 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area decreased to 2,344 square… Read More ›