Tag Archive for ‘single-family construction’

Outlying Areas Show Most Home Building per Capita

When NAHB’s Home Building Geography Index (HBGI) was introduced, it allocated county single- and multifamily permits into seven regions based on population densities. These regions are representative of different types of housing markets in the United States. New work in this post offers a per capita analysis of the HBGI regionals, which corroborates earlier findings  of market share and growth… Read More ›

Multifamily Regional Market Shares Show Variation from First Quarter

The National Association of Home Builders’ Home Building Geography Index (HBGI) tracks the markets of single-family and multifamily residential construction and their recovery following the Great Recession. In the first quarter of 2019, the first “cut” of the HBGI was introduced, which was an urban density-based delineation of the housing market into seven geographical “regions”. The first quarter HBGI analysis… Read More ›

Single-Family Gains Limited to Rural Areas and Exurbs: 2Q19 HBGI

When NAHB’s Home Building Geography Index (HBGI) was unveiled, it examined construction along a population density-based delineation of U.S. counties into such geographies as suburbs, exurbs, rural areas, etc. The second quarter release introduces a new geography, manufacturing areas, while updating the first regional tracking, as described here. Of the seven “regions” of the HBGI, only exurbs and rural areas… Read More ›

Home Construction in Manufacturing Areas Weakened after 2017 Strength

The second quarter 2019 edition of the NAHB Home Building Geography Index (HBGI) introduces a new analysis of residential construction in manufacturing-intensive areas, in addition to updating trends for previously-defined areas of the exurbs, suburbs and rural markets. The HBGI data find that manufacturing areas experienced above-trend growth for single-family construction in 2017, followed by declines in 2019 as the… Read More ›

Small City Single-Family Building Growth Slowing

After several years of steady construction gains, single-family construction in small cities experienced a net deceleration of growth going into 2019. Such areas represent 37% of all single-family construction nationwide. With a population of nearly 95 million, small cities in the U.S. account for about 30% of the U.S. population and therefore serve as a good “demographic and economic microcosm”… Read More ›

Single-Family Market Share Change

As tracked by the NAHB HBGI, the changing geographic shares of single-family construction across the U.S. reflect the evolution of home building. As can be seen from the above figure, the market share of single-family permits for small city core areas declined slightly over the last eight years, starting initially from a little less than 30% of single-family home construction… Read More ›

Existing Home Sales Declined in March

After a strong gain in February, existing home sales, released by the National Association of Realtors, fell back in March despite lower interest rates and a strong labor market. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, declined 4.9% to a seasonally adjusted annual rate of 5.21 million in March. On a year-over-year basis, sales were 5.4%… Read More ›

Sale and Contract Prices per Square Foot in 2016

Looking at single-family homes started in 2016, the median prices per square foot, excluding improved lot values, range from $164 for contractor-built homes in the Pacific division to $81 for speculatively built homes in the East South Central division. At $164 per square foot, new contractor-built single-family homes in Pacific are the most expensive to build exceeding the national average… Read More ›

Pace of Residential Construction Spending Continues Positive Trend

Private residential construction got off to an auspicious start in 2017, continuing the growth trend that began in October of last year.  NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 0.5% in January 2017 to a seasonally adjusted annual rate (SAAR) of $476.4 billion. Multifamily construction spending in January grew by 2.2% to a seasonally-adjusted… Read More ›

Single-Family Construction Up in November

NAHB analysis of Census Construction Spending data shows that total private residential construction spending fell 0.7% in November to a seasonally adjusted annual rate of $462.9 billion. Multifamily construction spending slowed for the first time since July to a seasonally-adjusted annual rate of $61.9 billion, down 2.9% from the revised October estimate. Despite the slowdown, multifamily spending was still 10.7%… Read More ›