Tag Archive for ‘multifamily’

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 ›

Manufactured Homes Post August Increase

According to the U.S. Census Bureau, shipments of manufactured homes increased by 7.6% to an 85,000 seasonally adjusted annual rate in August, from 79,000 in July. This rate of growth partially reverses the 10.2% decline recorded in July, however, the number of manufactured homes in August remains 21.3% below its post-recession peak of 108,000 reached in January 2017. Figure 1… Read More ›

Private Residential Construction Spending Rises in August

NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $520.9 billion in August, 0.5% up from downwardly revised July estimates. It was the fourth consecutive monthly increase after a dip in April. Hurricane Harvey that made landfall late in August did not have significant impacts on… Read More ›