Eye On Housing
New NAHB research estimates the immigrant labor flow into the construction industry over the housing boom and bust years. The results show that more than 135,000 immigrant workers entered the US construction industry at the height of the housing boom in 2005. By 2011, the construction immigrant flow plummeted to a low of 23,000, highlighting the role of new immigrant… Read More ›
New NAHB research shows that millennials tend to buy homes that are smaller, older, and less expensive than homes bought by older generations. Being the youngest home buyers with little or no accumulated wealth also affects how millennials shop and buy their homes. The majority of millennials are buying homes for the first time in their lives. Three out of… Read More ›
Single-family starts built-for-rent held steady at 6,000 starts for the third quarter of 2014. While the market share of built-for-rent single-family homes remains somewhat elevated, the share and count of starts are off post-recession highs and will approach historical norms as the housing market continues to recover. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis,… Read More ›
The average size of newly built single-family homes has declined for two consecutive quarters as the overall housing market recovers. Despite the recent leveling, current new home sizes reflect post-recession increases due to an atypical mix of home buyers. As more first-time buyers return to the market, typical home size will continue to post slight quarterly declines. According to third quarter 2014 data from the Census Quarterly Starts and… Read More ›
According to NAHB analysis of the 2013 Census Bureau Survey of Construction (SOC) data, use of non-conventional financing methods to purchase new homes varies widely across the country. The West South Central divison is most heavily reliant on mortages insured by the Federal Housing Administration (FHA) with the share of FHA-insured loans reaching almost 20 percent. At the same time,… Read More ›
According to NAHB analysis of the Survey of Construction (SOC) data, only 8 percent of new single-family homes started in 2013 are served by individual wells and only 15 percent have private septic systems. These shares, however, vary widely across the nine Census divisions and reach 42 and 51 percent, respectively, in New England. The SOC which is conducted by… Read More ›
According to data from the Census Bureau’s Survey of Construction (SOC), single-family homes started in New England, where local zoning regulations often require very low densities, are built on some of the largest and most expensive lots in the nation. Looking at single-family spec homes started in 2013, the median lot size in New England exceeds half an acre. This… Read More ›
New NAHB research reveals significant regional differences in the share of custom homes started in 2013. The analysis finds that the Northeast and East North Central parts of the nation have the highest market shares. The new findings come from analysis of the 2013 Census Bureau’s Survey of Construction (SOC). The SOC differentiates between houses built for sale, houses built… Read More ›
Looking at single-family homes started in 2013, new NAHB research quantifies regional differences in sale and contract prices per square foot. The prices excluding lot values range from $145 per square foot for contractor-built homes in the Pacific division to $73 per square foot for speculatively-built homes in the West South Central division. The NAHB analysis is based on the… Read More ›
Single-family starts built-for-rent increased somewhat to 6,000 starts for the second quarter of 2014. While the market share of built-for-rent single-family units remains somewhat elevated, the share and count of starts appear to be remaining off post-Great Recession highs. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent, as… Read More ›