Tag Archive for ‘multifamily’

Private Residential Spending Is On the Rise

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1% in November to a seasonally adjusted annual rate of $530.8 billion. It was the highest level since February 2007. Total private residential construction spending was 7.9% higher than a year ago. The monthly gains are largely attributed to the strong growth of spending on… Read More ›

Housing Share of GDP: Third Quarter 2017

With the release of the final estimate of third quarter 2017 GDP (a 3.2% annual growth rate), housing’s share of gross domestic product (GDP) declined slightly to 15.3%. However, the home building and remodeling component – residential fixed investment – held steady at 3.4%. Housing-related activities contribute to GDP in two basic ways. The first is through residential fixed investment (RFI). RFI is effectively the… Read More ›

Strong Housing Starts Estimate Matches Rise in Builder Confidence

Total housing starts increased in November, with strong readings from the single-family sector. Total starts increased 3.3% to a 1.3 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The headline number was supported by strong numbers from single-family home building. Single-family starts increased for the month, rising 5.3% to a 930,000 seasonally adjusted… Read More ›

Single Family Construction Spending Up in October

NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 0.4% in October to a seasonally adjusted annual rate of $517.7 billion. It was a modest gain after a 0.2% dip in September. The total private residential construction spending was 7.4% higher than a year ago. The monthly gains are largely attributed to the steady… 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 ›

Housing Starts Rise in October

Total housing starts increased in October, with solid readings from the single-family sector. Total starts increased 13.7% to a 1.29 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. A jump in multifamily construction also increased the headline rate. Single-family starts increased for the month, rising to an 877,000 seasonally adjusted rate in… Read More ›

Single Family and Multifamily Construction Spending Post Gains

NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $515.4 billion in September, virtually unchanged from downwardly revised August estimates. The total private residential construction spending was 9.6% higher than a year ago. The monthly gains are largely attributed to the steady growth of spending on… Read More ›

2016 Multifamily Completions by Building Size

The Census Bureau recently released 2016 multifamily completions data from the Survey of Construction. A total of 159,000 housing units, or 49 percent of all multifamily completions, were in buildings with 50 or more units, more than any other building type (Figure 1). Multifamily completions in large buildings (50 or more units) grew significantly after the Great Recession, but growth… Read More ›

Residential Construction Lower on Hurricanes: Trends Remain in Place

Information released jointly by the Department of Housing and Urban Development and the Census Bureau indicates that total housing starts fell by 4.7 percent reflecting a 4.6 percent decline in single-family starts and a 5.1 percent drop in multifamily starts. This release reflects three dynamics, the impact of the recent hurricanes, the continued national trend growth in single-family starts, and… Read More ›