Tag Archive for ‘multifamily’

The Economic Impact of the Affordable Housing Credit

In addition to ensuring the supply of affordable rental housing, the Low-Income Housing Tax Credit (LIHTC) supports jobs and provides benefits to the economy. Using the NAHB economic impact model of home building, revised industry estimates reveal that the LIHTC program supports almost 96,000 jobs in a typical year. NAHB recently updated its economic impact model of home building, which indicate that… Read More ›

County Level Permit Activity

The Census Bureau recently released annual estimates of building permits issued at the county level. In 2013, 1,807 counties and county equivalents saw an increase in the number of single family permits issued over the prior year while 858 saw a decrease. County equivalents include the 64 parishes in Louisiana, 16 boroughs in Alaska, and 42 independent cities. The map… Read More ›

Apartment Absorption Rates at the Start of 2014

Absorption rates for new rental and for-sale multifamily homes were roughly unchanged at the start of 2014, which is consistent with ongoing strong demand for multifamily construction. According to NAHB analysis of data from the Census Bureau and Department of Housing and Urban Development Survey of Market Absorption of Apartments (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments in… Read More ›

Strong Growth in Multifamily Construction Spending

Total private residential construction spending increased to a seasonally adjusted annual rate of $378.5 billion according to the latest Census estimates. The current reading is a slight increase of 0.1% from the revised March estimate and 17.2% higher than one year ago. Single-family spending increased by 1.3% month-over-month while the home improvement category decreased by 2.2%. Multifamily spending posted another strong month-over-month increase of… Read More ›

Average New Multifamily Home Size at the Start of 2014

After rising during the boom years and falling during the Great Recession, the average size of newly built, multifamily units remains close to levels seen a decade ago. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily units is likely to rise. According to fourth quarter data from the Census Bureau and NAHB analysis, the… Read More ›

Jobs Created in the U.S. When a Home is Built

In an article published the first day of this month, NAHB released new estimates of the impact that building single-family and multifamily homes has on the U.S. economy. The new estimates show that building an average single-family home generates 2.97 jobs, measured in full-time equivalents (enough work to keep one worker employed for a year). A substantial share of this is… Read More ›

Tax Policy and Housing

Tax policy plays a key role in shaping housing demand, determining business conditions and deterring or fostering economic growth. Housing-related tax policy is of such significant importance that it has been selected as a primary issue for NAHB’s 2014 legislative conference, “Bringing Housing Home,” which takes place March 17-21 as home builders and other members of the residential construction industry meet federal lawmakers. As… Read More ›

Apartment Absorption Rates Remain High

Absorption rates for new rental and for-sale multifamily homes remained near post-recession highs in the fourth quarter of 2013. According to data from the Survey of Market Absorption of Apartments (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments in buildings with five or more units were up strongly for the four quarter period ending with the third quarter of 2013. A total… Read More ›

Average Size of New Multifamily Units Rose at End of 2013

After rising during the boom years and falling during the Great Recession, the average size of newly built, multifamily units remains close to levels seen a decade ago. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily units is likely to rise. According to fourth quarter data from the Census Bureau, the average square footage… Read More ›