Tag Archive for ‘housing’

Share of New Homes with Decks Edges Up

Of the roughly 780,000 single-family homes started in 2016, 23.7 percent came with 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 up slightly from 23.3 percent of single-family homes started in 2015. From a slightly longer historic perspective, the share of new homes… Read More ›

Growth Rate for Residential Construction Loans Picks Up

The volume of residential construction loans increased by 2.4% during the third quarter of 2017, marking 18 consecutive quarters of growth. While the year-over-year growth rate has slowed, the uptick in the quarterly growth rate is good news for home building. 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… Read More ›

Growth in Q3 a Bit Stronger Than Initially Estimated

The Bureau of Economic Analysis (BEA) reported that economy, as measured by growth in real gross domestic product (GDP) rose by 3.3 percent in the third quarter of 2017. The second estimate of Q3 GDP growth is moderately higher than the initial, or “advance”, estimate. With this reading, GDP growth has accelerated for two consecutive quarters after decelerating over the… Read More ›

Mortgage Rates Remain Low

Information provided by the Federal Housing Financing Agency (FHFA) indicates that mortgage rates on purchases of newly built homes fell by 5 basis points over June to 3.93 percent. At this level, rates remain below the 4.18 cycle peak level recorded in February. Meanwhile, a more commonly used rate reported by Freddie Mac indicates that mortgage rates rose in October…. Read More ›

Multifamily Market Update

The market share of rental multifamily construction starts ticked back up to an elevated level of 95% in the third quarter, according to NAHB analysis of Census data. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. The average share of 80% was recorded during the 1980-2002 period. There… Read More ›

AD&C Financing Conditions Ease At A Slower Pace

Builders and developers responding to NAHB’s AD&C Financing Survey continue to report easing credit conditions for acquisition, development, and single-family construction loans. In the third quarter of 2017, the overall net tightening index based on the AD&C survey was -7.7, indicating net easing. All major categories of AD&C financing also recorded net easing, with lending standards on land acquisition loans… Read More ›

New Home Sales Reach Strongest Pace in a Decade

Contracts for new, single-family home sales expanded by 6.2% in October to a 685,000 seasonally adjusted annual rate, according to estimates from the joint release of HUD and the Census Bureau. The strongest reading in a decade continues new home sales on a positive growth trend. The expansion is supported by ongoing job growth and improving household formations, as well as tight existing home inventory. Despite some volatility in the month-to-month sales figures, October marks the sixth… Read More ›

Single-Family Built-for-Rent Starts: Third Quarter 2017

The number of single-family homes built-for-rent increased in the third quarter. Over the last four quarters, total production of this type of housing was 32,000 homes, compared to 33,000 during the four quarters prior. However, there were 10,000 starts in the third quarter alone. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis,… Read More ›

Recent Homes Have Just Over 3 Toilets, 2.5 Showers

Single-family homes built after the 1990s have an average of 3.1 toilets, 2.6 showers and 2.3 bathtubs, according to a recent NAHB study. Standard tables from the Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial funding from HUD) show that the share of single-family homes built with at least 2 bathrooms has increased regularly from 60 percent of… Read More ›

Slight Gains for Custom Home Building

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates ongoing expansion of the volume of custom home building but slight declines in terms of overall market share. Over the last four quarter period, ending with the third quarter of 2017, there were 173,000 total custom single-family home starts, an increase of more than… Read More ›