Tag Archive for ‘multifamily’

Consumer Prices in November – Predicting Fed Action

The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) for November. The Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 0.3% in November, slower than 2.4% in October. Meanwhile, excluding the volatile food and energy components, the “core” CPI rose at a seasonally adjusted annual rate of 2.2% in November following 2.5% in… Read More ›

Most Homebuilders are Small Businesses

Based on the recently released 2012 Economic Census data, new NAHB research shows that residential construction remains the industry of independent entrepreneurs with 81 percent of homebuilders and specialty trade contractors being self-employed independent contractors. Even among establishments with paid employees, the industry is dominated by small businesses, with two-thirds of homebuilders and three out of four specialty trade contractors… Read More ›

October Gains for Residential Construction Spending

NAHB analysis of Census construction spending data shows that total private residential construction spending for October increased to a seasonally adjusted annual rate of $399 billion. On a month-over-month basis, private single-family spending was $226 billion, up by 1.6% over the revised September estimate. Private multifamily spending increased to $58 billion, up by 1.4%. Annually, the pace of multifamily spending… Read More ›

Multifamily Building: Third Quarter Data

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 ›

Apartment and Condominium Market Remains Steady in the Third Quarter

In the third quarter of 2015, the NAHB’s Multifamily Production Index (MPI) increased one point to a level of 56. This marks the 15th consecutive quarter with a reading of 50 or above, which indicates that more respondents report conditions are improving than report conditions are becoming worse. The MPI is fairly consistent with the strong performance of multifamily starts, which have recovered from… Read More ›

Housing Construction Continues Forward

Permits to build new homes increased 4.1% in October to a level of 1.15 million per year. Both single-family and multifamily levels increased by 2.4% and 6.8% respectively. On a year-to-date basis, total permits are up 11.9%; single-family are up 8.6% and multifamily are up 17.2% as the housing market continues its modest pace of recovery. Housing starts were down… Read More ›

Rebounding Energy Prices in October

Energy prices rebounded and the Consumer Price Index (CPI) rose moderately in October. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 2.4% in October after a 1.8% decline in September and a 0.8% decline in August. Excluding the volatile food and energy components, “core” CPI rose at… Read More ›

Apartment Absorptions for the Second Quarter

The rental apartment market continued to be strong during the second quarter of 2015, as multifamily production levels remain elevated. According to NAHB analysis of the most recent 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 buildings with five or more units totaled… Read More ›

Residential Construction Spending Continued Rising in September

NAHB analysis of Census construction spending data shows that total private residential construction spending for September increased, rising to a seasonally adjusted annual rate of $395 billion. On a month-over-month basis, private single-family spending was $222 billion, up by 1.3% over the revised August estimate. Private multifamily spending increased to $57 billion, up by 5%. Annually, the pace of multifamily… Read More ›