Eye On Housing
According to estimates from the U.S. Housing and Urban Development and Commerce Department, single-family starts increased in October, consistent with solid levels for the NAHB/Wells Fargo Housing Market Index (HMI). Thanks to lower mortgage interest rates, the seasonally adjusted annual pace of single-family permits has been rising since April, the rate of single-family starts has been increasing since May, and… Read More ›
Builder confidence in the market for newly-built single-family homes edged one point lower to 70 in November, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The past two months mark the highest sentiment levels in 2019. Single-family builders are currently reporting ongoing positive conditions, spurred in part by low mortgage rates and continued job… Read More ›
Over the first nine months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 647,244. On a year-over-year (YoY) basis, this is a 2.6% decline over the September 2018 level of 664,665. Year-to-date ending in September, single-family permits reported declines in all four regions. Midwest reported the steepest decline by 6.4%. The West, Northeast, the South,… Read More ›
According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, median single-family lot prices outpaced inflation once again (4.4% vs 2.4%) and reached new record high in 2018, with half of the lots selling at or above $49,500. The most dramatic rise in lot values is observed in the West South Central division where median lot values… Read More ›
The total market share of non-site built single-family homes was 3% of single-family completions in 2018, according to Census Bureau Survey of Construction data and NAHB analysis. This share is expected to rise moderately in 2019 and in the years ahead, due to the ongoing labor shortage in the residential construction sector and the need to lift labor productivity amid declining housing affordability…. Read More ›
The median lot size of a new single-family detached home sold in 2018 stands at 8,567 square feet, or just under one-fifth of an acre. This is just 7 square feet larger but statistically not different from the 2017 median. In 2015, the median lot size fell under 8,600 square feet for the first time since Census Bureau’s Survey of… Read More ›
Contracts for new, single-family home sales inched down 0.7% in September to a 701,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The decline came off a downwardly revised August estimate, which was decreased from an initial reading of 713,000 to a new estimate of 706,000. Year-over-year, the September estimate is… Read More ›
According to estimates from the U.S. Housing and Urban Development and Commerce Department, single-family starts edged up in September, consistent with recent gains for the NAHB/Wells Fargo Housing Market Index (HMI). However, the headline measure of total housing starts was down 9.4% for the month due to a large decline in the volatile multifamily sector. Single-family starts increased 0.3% to… Read More ›
Builder confidence in the market for newly-built single-family homes rose three points to 71 in October, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Sentiment levels are at their highest point since February 2018 and have risen 13 points since the start of 2019. The housing rebound that began in the spring continues, supported… Read More ›
Over the first eight months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 576,798. On a year-over-year (YoY) basis, this is a 3.7% decline over the August 2018 level of 599,117. Year-to-date ending in August, single-family permits reported declines in three out of the four regions. Northeast was the only region to post a growth… Read More ›