Eye On Housing
Total housing starts increased in May with gains in both the single-family and multifamily sectors. Starts increased 5% month-over-month to a 1.35 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. This pace is a post-recession high. The rate of single-family starts was 3.9% higher in May, reaching a 936,000 annual rate…. Read More ›
The number of single-family homes built-for-rent increased over the last four quarters. During this timer period, construction starts of this type of housing totaled 37,000 homes, compared to 33,000 for the prior four quarters. There were 7,000 single-family built-for-rent starts for the first quarter of 2018. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB… Read More ›
Counter to the recent prevailing trend, new single-family home size increased at start of 2018. New home size had been falling over the last two years due to an incremental move to additional entry-level home construction. According to first quarter 2018 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area increased to 2,436 square… Read More ›
Total housing starts declined in April due a drop in the volatile multifamily category. Starts decreased 3.7% month-over-month to a 1.29 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The pace of single-family starts was roughly flat in April, after an upward revision to the March rate (increased from an initial… Read More ›
Total housing starts increased slightly in March, led by multifamily construction strength. Starts increased 1.9% to a 1.32 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. However, the pace of single-family starts declined in March, falling 3.7% to an 867,000 seasonally adjusted annual rate, due to lingering weather effects in some parts… Read More ›
Builder confidence in the market for newly-built single-family homes edged down one point to a level of 69 in April on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) but remains on firm ground. Strong demand for housing is keeping builders optimistic about future market conditions. However, builders are facing supply-side constraints, such as a lack of… Read More ›
With the release of the final estimate of fourth quarter 2017 GDP growth (a 2.5% annual growth rate), housing’s share of gross domestic product (GDP) rose slightly to 15.4%. The home building and remodeling component – residential fixed investment – also increased slightly, rising to 3.5%. Housing-related activities contribute to GDP in two basic ways. The first is through residential fixed investment (RFI). RFI is effectively the measure… Read More ›
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate of $533.4 billion in February, a gain of 0.1% from the upwardly revised estimate of January. Over the past 12 months, total private residential construction spending was up 5.5%. The monthly gains are largely attributed to the large increase… Read More ›
Contracts for new, single-family home sales were effectively flat in February, inching down 0.6% to a 618,000 seasonally adjusted annual rate, according to estimates from the joint release of HUD and the Census Bureau. Matching solid readings of the NAHB/Wells Fargo HMI measure of home builder confidence, new home sales data for prior months were revised up. For example, the initial January estimate… Read More ›
Total housing starts declined in February, led by a reversion to trend for multifamily development. Starts fell 7% to a 1.24 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The pace of single-family starts expanded in February, rising 2.9% to a 902,000 seasonally adjusted annual rate. The three-month moving average for single-family… Read More ›