Tag Archive for ‘single-family’

Custom Home Building During the First Quarter of 2015

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of custom home building starts (homes built on an owner’s land, with either the owner or a builder acting as the general contractor) posted a slight decline on a year-over year basis from 27,000 starts at the beginning of 2014 to 26,000… Read More ›

New Single-Family Home Size Increases at the Start of 2015

The typical size of newly built single-family homes increased at the start of the year. The trend of increasing new home size leveled off in 2014, but new home size increased during the first quarter of 2015 with a decline in the volume of construction. As first-time buyers return to the market, typical home size is expected to trend lower. According to first quarter 2015… Read More ›

Winter Slump Over

Builders increased building activity in April to a level not seen since November 2007. Total starts increased 20.2% from March to April to a seasonally-adjusted annual rate of 1.135 million. The increase was broad based with a 16.7% increase in single-family starts to a level of 733,000, the highest since January 2008, and multifamily (2 or more units in the… Read More ›

Single-Family and Multifamily Construction Spending Continue to Increase

NAHB analysis of Census construction spending data found that on a 3-month moving average basis, from January 2014, single-family construction spending increased 11.4% and multifamily construction spending increased 28.9%. The seasonally adjusted annual spending for single-family construction was $204.9 billion and $48.9 billion for multifamily construction. Single-family and multifamily construction spending both experienced monthly increases over December estimates. Single-family spending… Read More ›

New Single-Family Home Size Declined in 2014

The typical size of newly built single-family homes declined during 2014. Despite the recent cooling, current typical new home size reflects 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 fourth quarter 2014 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor… Read More ›

The Construction Immigrant Worker Flow

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 ›

What Homes Do Millennials Buy?

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 Built-for-Rent Market Share Closer to Historical Levels

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 ›

Single-Family Home Size Leveling Off as Market Recovers

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 ›

Regional Differences in New Home Financing

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 ›