Eye On Housing
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction declined during the third quarter. As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction has lagged. During the third quarter of 2020, single-family attached starts totaled 31,000, which was 3% lower than the… Read More ›
An expected impact of the virus crisis is a need for more space, as people use their homes for more purposes. And while this measure has not increased significantly yet, new home size appears to be leveling off after years of decline. According to third quarter 2020 data from the Census Quarterly Starts and Completions by Purpose and Design and… Read More ›
The number of single-family homes built-for-rent (SFBFR) posted a year-over-year increase for the third quarter of 2020. The SFBFR market is a way to add single-family inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period of when people want more space and single-family structures. Single-family built-for-rent construction does differ with respect to… Read More ›
Single-family starts experienced continued gains in October, according to data from the U.S. Department of Housing and Urban Development and the Census Bureau. Single-family construction is up 8.6% year-to-date, with notable gains in 2020 for the Midwest and other lower-density markets. The pace of single-family starts in October was the highest production rate since the spring of 2007. Single-family building… Read More ›
In another sign that housing continues to lead the economy forward, builder confidence in the market for newly-built single-family homes increased five points to 90 in November, shattering the previous all-time high of 85 recorded in October. Builder confidence levels have hit successive all-time highs over the past three months. Historically low mortgage rates, favorable demographics and an ongoing suburban… Read More ›
While lenders continued to report tightening in the third quarter, builders and developers responding to NAHB’s survey on financing for Acquisition, Development and Construction (AD&C) reported a near-neutral change in credit availability. The net tightening index derived from the NAHB survey was -3.3 in the third quarter of 2020, compared to 12.0 in the second quarter. The index is constructed… Read More ›
After a surge in the pace of new home sales in July and August, the growth rate of newly built single-family home slowed in September. While still strong, the growth rate of new home sales exceeded construction starts by a historic margin at the end of the summer, necessitating an increase in starts and some slowing of sales. According to… Read More ›
According to the Census Bureau’s Survey of Construction, the share of new homes started with 5,000 square feet or more of living space stood at 2.71 percent in 2019, down slightly from 2.88 percent in 2018. A total of 24,000 5,000+ square-foot homes were started in 2019, compared to 25,000 in 2018. The slight decline in 5,000+ square foot homes… Read More ›
Single-family starts experienced continued gains in September, according to data from the U.S. Department of Housing and Urban Development and the Census Bureau. Contrasting the different subsectors of housing, while single-family permits are showing continued strength, multifamily permits continue to weaken as a consequence of the 2020 virus crisis. The pace of single-family starts in September was the highest production… Read More ›
In a further show of strength for the housing sector, builder confidence in the market for newly-built single-family homes increased two points to 85 in October, further surpassing the previous all-time high of 83 recorded in September, according to the latest NAHB/Wells Fargo Housing Market Index (HMI). These are the first two months the index has ever been above 80…. Read More ›