Tag Archive for ‘single-family’

New Home Sales in June – A Bumpy Ride Up

The US Census Bureau and Department of Housing and Urban Development in a joint release reported that newly constructed single family homes sold at a seasonally adjusted annual pace of 482 thousand in June, down from May’s 517 thousand pace (-6.8%), but up from the June 2014 pace of 408 thousand (18.1%). The inventory of new homes for sale inched… Read More ›

Multifamily Drives June Starts Growth

Total housing starts expanded 9.8% month-over-month in June, reaching a 1.174 million annual starts pace. The strong growth rate was driven by the multifamily sector. According to the estimates from the jointly published Census Bureau and HUD June report, single-family starts were effectively flat, recording a 0.9% monthly decline to a 685,000 seasonally adjusted annual rate. Single-family starts were up 14.7% over the June 2014 pace and, as… Read More ›

Housing Prices – Slowing to Sustainable Growth

The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller recently released their respective home price indices for April. House prices have been recovering since reaching the bottom of the downturn in 2012. Both the new and existing single-family homes’ median sale prices are presented along with the home price index. All three indicators tell a similar story of rapid… Read More ›

New Home Sales Rise

The rate of new home sales increased in May to an annual level of 546,000, the highest since February 2008 as the housing market of the mid-2000s started to deflate. The May figure is 2.2% above April and puts the first two months of the second quarter at 3.8% ahead of the first quarter. Regional results were more varied with… Read More ›

Housing Starts Readjust

May housing starts fell 11.1% from an elevated April to a seasonally-adjusted annual rate of 1.036 million units. The drop was broad based, falling 5.4% in single-family to an annual rate of 680,000 and multifamily falling 20.2% to 356,000. When viewed from a quarterly average, however, the first two months of the second quarter were better than the first quarter… Read More ›

Builders’ Sentiment Improves

The NAHB/Wells Fargo Housing Market Index for June increased to 59, a five point rise from May and tied for the highest since September 2014. The increase in builder confidence aligns with other recent positive housing news. April starts and permits were up significantly from a depressed March. Single-family starts rose 16.7% from March and were the highest monthly level… Read More ›

More Easing for AD&C Lending Conditions

Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans according to NAHB’s survey on AD&C financing. In the first quarter of 2015, the overall net tightening index based on the AD&C survey was -33.7, which represents somewhat less easing than in the fourth quarter of 2014 when the index was -35.7. The index… Read More ›

AD&C Loan Growth at the Start of 2015

The volume of residential AD&C loans outstanding expanded 4.8% during the first quarter of 2015, marking the 8th consecutive quarter of growth. The tight availability of acquisition, development and construction (AD&C) loans has been a factor holding back a stronger rebound in home construction. According to data from the FDIC and NAHB analysis, the outstanding stock of 1-4 unit residential construction loans made… Read More ›

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 ›