Tag Archive for ‘single-family’

New Single-Family Housing Starts by Divisions

Using the public-use microdata files provided by Census Bureau’s Survey of Construction (SOC), NAHB Economics and Housing Policy group tabulated new single-family housing starts for the nine census divisions, including Pacific, Mountain, West North Central, West South Central, East North Central, East South Central, Middle Atlantic, South Atlantic, and New England. The map and figure below provide a more geographically… Read More ›

Time to Build a Single-Family Home in 2015

The 2015 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 7 months, which usually includes almost a month from authorization to start and another 6 months to finish the construction. The timeline from authorization to completion, however, is not consistent across the nation, depending on the housing category,… Read More ›

Lot Values at Record High

Single-family lot prices set a new record in 2015, with half of the lots priced at or above $45,000. According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, this is the highest median lot value on record and exceeds the previous record of $43,000 reached in 2006, in the midst of the housing boom when twice… Read More ›

Builder Confidence Holds Firm in July

Builder confidence in the market for newly built, single-family homes in July fell one point to 59 from a June reading of 60 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). For the past six months, builder confidence has remained in a relatively narrow positive range that is consistent with the ongoing gradual housing recovery. However,… Read More ›

Lots in 2015 are Smallest on Record

The median lot size of a new single-family detached home sold in 2015 dropped under 8,600 square feet for the first time since Census Bureau’s Survey of Construction (SOC) started tracking the series. An acre is 43,560 square feet, so the current median lot size is just under one-fifth of an acre. In 2014, Paul Emrath used a football field… Read More ›

Vinyl is the Most Widely Used Exterior On New Homes

According to data from the Census Bureau’s Survey of Construction (SOC), vinyl (including vinyl-covered aluminum) was the most common principal siding material on new single-family homes started in 2015 (27 percent), followed by stucco (25 percent), brick or brick veneer (22 percent each), and fiber cement siding (such as Hardiplank or Hardiboard) (19 percent). Wood or wood products accounted for… Read More ›

What Building 1,000 Homes Means to the U.S. Economy

According to NAHB’s National Impact of Home Building model, building 1,000 average single-family homes generates 2,975 jobs and $111.0 million in taxes and fees for all levels of government.  Similarly, building 1,000 average rental apartments generates 1,133 jobs and $42.4 million in taxes. The jobs are measured in full-time equivalents (enough work to keep one worker employed full-time for a… Read More ›

Single-Family Starts Flat in May

The May pace of single-family housing starts was effectively flat relative to April after downward revisions for prior months, standing at a seasonally adjusted annual rate of 764,000. However, according to estimates from the Census Bureau and the Department of Housing and Urban Development, the May rate marks a 10% gain in the pace of single-family construction on a year-over-year basis. Yesterday’s increase in the NAHB/Wells… Read More ›

New House Price Data Show Why Costs Are a Problem

New data released by the U.S. Census Bureau and the Department of Housing and Urban Development provide strong evidence that the costs of producing new housing are making it difficult to impossible to build homes for a significant part of the U.S. housing market. At the beginning of June, the Census Bureau traditionally releases data about the Characteristics of New… Read More ›

Private Residential Construction Spending Stalls in April

NAHB analysis of Census Construction Spending data shows that total private residential construction spending for April dropped to a seasonally adjusted annual rate of $439.7 billion, down by 1.5% over the March upwardly revised estimate. Private nonresidential construction spending was also down 1.5%, the first decline in 2016. Within private residential construction, spending on multifamily and improvements both declined in… Read More ›