Eye On Housing
According to NAHB’s analysis of the 2019 Survey of Construction data, the highest median square foot sale and contract prices are registered in the West and Northeast. The most economical custom and for-sale homes are started in the South region, where the median contract and sale prices per square foot are consistently below the national medians. Looking at single-family for-sale… Read More ›
After a surge in the pace of new home sales in July and August, the monthly growth rate of newly built single-family home slowed during the Fall. While the level of sales remains elevated and at post-Great Recession highs, sales have exceeded construction starts by a historic margin at the end of the summer. This necessitated an increase in starts… Read More ›
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 ›
Over the first nine months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 713,286. On a year-over-year (YoY) basis, this is an 10.2% increase over the September 2019 level of 647,244. Year-to-date ending in September, single-family permits across the four regions ranged from an increase of 12.4% in the South to an increase of 6.2% in the Northeast…. 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 ›