Tag Archive for ‘multifamily’

Private Residential Construction Spending at Post-Recession High

NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 1.2% in March to a seasonally adjusted annual rate (SAAR) of $503.4 billion. This is 7.5% higher than a year ago and represents a new post-recession high. The monthly gains are largely attributed to the strong growth of private construction spending on both multifamily and… Read More ›

Housing Starts Fall in March After a Strong February

Total housing starts declined in March, after a strong pace was recorded in February. Total starts were down almost 7%, falling to a 1.215 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Single-family starts posted a monthly decline of 6% in March, falling to an 821,000 annual rate. The February annualized rate, 875,000, was the fastest monthly pace since… Read More ›

Private Construction Spending Hits Cyclical High

NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 1.8% in February to a seasonally adjusted annual rate of $484.7 billion. It was up by 6.4% from one year earlier and reached the highest level since August 2007. Multifamily construction spending continued its record breaking pace to a seasonally adjusted annual rate of $64.5… Read More ›

Rental Apartment Absorption Flat While Condominium Absorption Jumps

The US Census Bureau, in collaboration with the US Department of Housing and Urban Development, releases data on completions and absorption rates for multifamily buildings with at least 5 apartments. The most recent release shows that completions of nonsubsidized, unfurnished, rental apartments amounted to 73,800 in the third quarter of 2016. This is 11,700 more than the second quarter of 2016, but… Read More ›

Solid Gain for Starts in February

Total housing starts posted an increase in February, with a solid gain for single-family construction and ongoing elevated levels of multifamily development. Total starts were up 3%, rising to a 1.288 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Single-family starts recorded a monthly increase of 6.5% in February, rising to an 872,000 annual rate,… Read More ›

Consumer Price Index Rose Slightly in February

The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), rose in February. The CPI rose at a seasonally adjusted annual rate of 1.5% in February, the smallest increase since July 2016. Excluding the volatile food and energy components, “core” CPI increased at a seasonally adjusted annual rate of 2.5%, following the 3.8% increase in January. The… Read More ›

Apartment and Condominium Market Momentum Continues

The National Association of Home Builders’ Multifamily Production Index (MPI) increased two points to 55 in the fourth quarter of 2016. For five straight years, the MPI has been at or above 50, which indicates that more respondents report conditions are improving than report conditions are getting worse (Figure 1). Figure 1: NAHB Multifamily Production Index (MPI) and Multifamily Starts… Read More ›

Multifamily Construction: 4Q16

An elevated market share for new rental multifamily homes is holding typical apartment size below levels seen during the pre-recession period. 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… Read More ›

Single-Family Housing Starts Post Slight Gain

Total housing starts recorded a small decline in January, as multifamily starts fell back, albeit from an upwardly revised number in December. Total starts were down 2.6%, falling to a 1.246 million seasonally adjusted annual rate. However, single-family starts posted a small monthly increase in January, rising 1.9% to an 823,000 annual rate As measured on a three-month moving average, the current changes… Read More ›