Eye On Housing
The number of single-family homes built-for-rent fell slightly at the start of 2017, falling to 6,000 for the quarter. Over the last four quarters, total production of this type of housing was 33,000 homes. 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… Read More ›
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates a slowing of the growth rate for the custom home building market. Over the last four quarter period, ending with the first quarter of 2017, there were 168,000 total custom single-family home starts, an increase of almost 2% over the previous four quarters. Custom… Read More ›
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction starts continued to grow on a year-over-year basis, although that growth rate has slowed recently. Over the four quarter period ending with the first quarter of 2017, townhouse starts totaled 98,000, a more than 4% gain over the prior year total…. Read More ›
After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the start of 2017. This 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… Read More ›
Total housing starts declined in April after strong early months in 2017. Total starts were down almost 3%, falling to a 1.172 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. This decrease was due to a multifamily production decline, although single-family permit activity was also softer than expected in April. Single-family starts were effectively flat, rising slightly to… Read More ›
The National Association of Home Builders’ (NAHB) single-family 55+ Housing Market Index (55+ HMI) dropped 12 points to 55 in the first quarter of 2017, after an unusually high index reading of 67 in the fourth quarter of 2016. Despite the drop, the 55+ HMI still remains above 50, which means that more builders view conditions as good than poor… Read More ›
NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 1.2% in March to a seasonally adjusted annual rate (SAAR) of $503.4 billion. This is 7.5% higher than a year ago and represents a new post-recession high. The monthly gains are largely attributed to the strong growth of private construction spending on both multifamily and… Read More ›
Contracts for new home sales expanded by 5.8% in March, according to estimates from the joint data release of HUD and the Census Bureau. The growth in sales continues along a positive trend for the market, which is supported by solid job growth, improving household formations, continuing favorable housing affordability conditions, and tight existing home inventory. The seasonally adjusted annual pace for March new single-family… Read More ›
Total housing starts declined in March, after a strong pace was recorded in February. Total starts were down almost 7%, falling to a 1.215 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Single-family starts posted a monthly decline of 6% in March, falling to an 821,000 annual rate. The February annualized rate, 875,000, was the fastest monthly pace since… Read More ›
NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 1.8% in February to a seasonally adjusted annual rate of $484.7 billion. It was up by 6.4% from one year earlier and reached the highest level since August 2007. Multifamily construction spending continued its record breaking pace to a seasonally adjusted annual rate of $64.5… Read More ›