Tag Archive for ‘single-family’

Multifamily Construction Spending Continues Strong Growth

NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 1.6% in October to a seasonally adjusted annual rate of $472.9 billion. Multifamily construction spending continued its record breaking pace and reached $63.7 billion, up by 2.8% over the revised September estimates. It was 11.4% higher since October 2015. Single-family construction spending also increased by… Read More ›

AD&C Lending Expands

The volume of residential construction loans jumped by 4.8% during the third quarter of 2016, marking 14 consecutive quarters of growth and setting the highest quarterly growth rate since the summer of 2014. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting factor for home building growth, but easing credit conditions and a growing loan base have helped expand residential construction activity in a thin inventory environment. According… Read More ›

Single-Family Built-for-Rent Construction

The number of single-family homes built-for-rent posted gains over the last year. However, the built-for-rent market is a small portion of the total single-family development, so care must be taken when identifying trends. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent, as measured on a one-year moving… Read More ›

Single-Family Home Size Trending Lower

After increasing and leveling off in recent years, new single-family home size continued to trend lower during the third quarter of 2016. This ongoing change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. As the entry-level market expands, including growth for townhouses, typical new home size… Read More ›

Multifamily Construction Spending Hits New Record High

According to estimates from Census Construction Spending data, total private residential construction spending edged up 0.5% in September to a seasonally adjusted annual rate of $459.5 billion. Multifamily construction spending continued its record breaking pace and reached $62.1 billion, up by 2.0% over the revised August estimates. Single-family construction spending stood at $236.6 billion, slightly up from the upwardly revised… Read More ›

FHA Mortgage Share Increased in 2015

Recent data released under the Home Mortgage Disclosure Act (HMDA) on mortgage loans indicates that the FHA-insured share of all 1-4 family mortgage originations in owner-occupied homes increased in 2015. At the same time, refinancings relative to home purchase and home improvement mortgages also rose, especially for FHA-insured mortgages. The HMDA was enacted by Congress in 1975 and was implemented… Read More ›

Framing Methods for Single-Family Homes: 2015

Wood framing remains the most dominant construction method for single-family homes in the U.S., according to NAHB analysis of Census Bureau data. For 2015 completions, 93% of new homes were wood-framed. Another 7% were concrete homes, and less than half a percent were steel-framed. In absolute number terms, 603,000 single-family homes were completed in 2015 and had wood frames. Concrete homes totaled… Read More ›

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 ›