Tag Archive for ‘multifamily’

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 ›

Winter Slump Over

Builders increased building activity in April to a level not seen since November 2007. Total starts increased 20.2% from March to April to a seasonally-adjusted annual rate of 1.135 million. The increase was broad based with a 16.7% increase in single-family starts to a level of 733,000, the highest since January 2008, and multifamily (2 or more units in the… Read More ›

Producer Prices in April – Up in March, Down in April

The Bureau of Labor Statistics (BLS) released the Producer Price Indexes (PPI) for April. Inflation in prices received by producers (prior to sales to consumers) fell 0.4% in April after a modest increase (0.2%) in March. The decline was dominated by goods, and mainly energy, but prices for services also declined by 0.1%. Prices for gypsum flattened out in April… Read More ›

Count of Open Construction Jobs in March

The number of open, unfilled construction sector positions remained elevated in March. Over the last few months, the construction labor market has experienced swings in the monthly count of new hires, as the share of open construction jobs has trended higher. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a… Read More ›

Declines for Residential Construction Spending in March

NAHB analysis of Census construction spending data finds that over the last year, the pace of private single-family construction spending increased 7.8% and multifamily construction spending increased 23.4%, despite monthly declines for March. For the month, the seasonally adjusted annual rate of single-family construction spending was $200.7 billion, down 1.8% from February. The March rate of multifamily construction spending was $49.2 billion, 2.1% lower than February. The… Read More ›

Homeownership Rate Falls Below 64%

First quarter data from the Census Bureau indicate that the nation’s homeownership rate fell to 63.7% for the first quarter of 2015. Data from the Current Population Survey / Housing Vacancy Survey reveal that the homeownership rate declined by 1.1 percentage points on a nonseasonally adjusted basis from the first quarter of 2014 to the first quarter of 2015. From… Read More ›