Tag Archive for ‘single-family’

Garages in New Homes: 2015 Data

A majority of new homes that completed construction in 2015 included two-car garages, according to NAHB analysis of Census Bureau Survey of Construction data. For new single-family completions in 2015, 61% of homes offered a two-car garage. Another 24% of homes possessed a garage large enough to hold three or more cars. Just 6% of newly-built homes had a one-car garage, and only 1%… Read More ›

September Housing Starts Decline on Multifamily Weakness

The September pace of total housing starts decreased 9% due a substantial decline in multifamily production. Single-family construction continues, as expected, along a positive trend. According to estimates from the Census Bureau and the Department of Housing and Urban Development, single-family starts increased 8.1% to a 783,000 seasonally adjusted annual rate in September. Year-to-date, single-family housing starts are running almost 10% higher… Read More ›

Builder Confidence Remains Solid in October

Builder confidence in the market for newly constructed single-family homes remained on firm ground in October, declining two points to a level of 63 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite the decline, the HMI now stands at its second-highest level in 2016, a sign that the housing recovery continues to make solid progress. However,… Read More ›

Bathrooms in 2015 New Homes

In its Survey of Construction (SOC), the US Census Bureau publishes data on the number of bathrooms in new homes started. In the last several years, the share of new single-family homes with 3 or more full bathrooms has increased, which may reflect the move by builders to focus on higher-end, larger homes in the post-recession period. However, recent data indicate that this trend… Read More ›

New Home Sales: Solid August Follows Hot July

Sales of newly-built, single-family homes fell 7.6% on a monthly basis in August to a 609,000 seasonally adjusted annual rate according to estimates from the Census Bureau and HUD. However, the monthly change masks the fact that the August pace of new home sales was the second strongest since the end of the Great Recession. New home sales for August… Read More ›

The Geography of Homes Built on Private Wells and with Individual Septic Systems

NAHB Economics analysis of the Survey of Construction (SOC) data shows that less than 9% of new single-family homes started in 2015 are served by individual wells and close to 16% have private septic systems. These shares, however, vary widely across the nine Census divisions with the corresponding shares reaching 39% and 47% in New England – the highest occurrence… Read More ›

Basements Didn’t Matter: New Homes Were Still Larger in 2015

A recent NAHB post shows that, after rising to a record high, the size of new single-family homes has leveled off and, as of the second quarter of 2016, is now trending downward slightly. Several things could be responsible.  NAHB (and others) have emphasized a changing mix of repeat and first-time home buyers.  Before focusing exclusively on this, however, it would be good… Read More ›

Home Improvements Push Residential Construction Spending Up

NAHB analysis of Census Construction Spending data shows that total private residential construction spending for July registered a seasonally adjusted rate of $445.5 billion, slightly up from the June downwardly revised estimate. The monthly gains are largely attributed to the strong growth of private construction spending on home improvements that rose to a seasonally adjusted annual rate of $147.5 billion… Read More ›

Mortgage Debt Continues to Grow

According to the Household Debt and Credit Report released by the Federal Reserve Bank of New York (FRB NY), the outstanding amount of housing-related debt, both home mortgages and home equity lines of credit (HELOCs), totaled $8.8 trillion in the second quarter of 2016, 2.6% ($225 billion) greater than the level from one year ago. However, the outstanding amount of home equity… Read More ›