Tag Archive for ‘housing’

Single-Family Starts Weak, Especially in the West

The pace of single-family starts declined for the third consecutive month as housing affordability concerns continue to weigh on the home construction market.  Total starts posted a 3.2% increase due to gains for multifamily development. Total single-family and apartment construction starts are up 5.1% on a year-to-date basis, according to the joint data release from the Census Bureau and HUD…. Read More ›

Builder Confidence Drops Four Points Amid Concerns Over Housing Affordability

Builder confidence in the market for newly-built single-family homes fell four points to 56 in December on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) as concerns over housing affordability persist. Although this is the lowest HMI reading since May 2015, builder sentiment remains in positive territory. Builders report that consumer demand exists, but customers are hesitating… Read More ›

U.S. Household Balance Sheet Continues to Recover in Q3 2018

The third quarter Federal Reserve Flow of Funds report showed continued improvement in the financial position of U.S. households with real estate, as the market value of all owner-occupied residential real estate (household owned) rose to $25.6 trillion. According to NAHB tabulations of the quarterly series, the asset or market value of owner-occupied real estate held by U.S. households increased… Read More ›

Custom Home Building Annual Share

According to data from the Census Bureau’s Survey of Construction (SOC), the custom home share declined to 20 percent of all single family homes started in 2017—lowest since mid-2000. Contractor-built or owner-built houses – that together make up the custom home market – are built one at a time for owner occupancy on owner’s land with either the owner or… Read More ›

Uptick for Construction Job Openings in October

The count of unfilled jobs in the construction sector increased in October, although the total remained lower than the August estimate, which marked a post-recession high. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs expanded to 292,000 in October. The open position rate (job openings as a… Read More ›

Continued Residential Construction Loan Growth

The volume of residential construction loans increased by 2.8% during the third quarter of 2018, marking 22 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 or cost factor for home building growth, but easing credit conditions and a growing loan base have… Read More ›

Multifamily Construction Remains a Built-for-Rent Market

An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great 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 third quarter 2018 data, the average per unit square footage of multifamily housing construction starts was 1,125, off from the… Read More ›

Gains for Single-Family Built-for-Rent Construction

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 43,000 homes, compared to 33,000 for the prior four quarters. There were 12,000 single-family built-for-rent starts for the third quarter of 2018. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB… Read More ›