Eye On Housing
In a recent NAHB survey, 65 percent of builders reported that the overall supply of developed lots in their areas was low to very low. This is up only one percent from June 2017, but significantly higher than the 42 percent posted in September 2012. The survey consisted of special questions appended to the instrument for the NAHB/Wells Fargo Housing… Read More ›
Tag Archive for ‘single-family’
Sale and Contract Prices per Square Foot in 2017
Looking at single-family homes started in 2017, the median prices per square foot, excluding improved lot values, range from $155 for contractor-built homes in the Pacific division to $86 for speculatively built homes in the East South Central division. The median sale and contract prices per square foot are up across most divisions. The most significant gains are registered in… Read More ›
Sales Stall in September
Contracts for new single-family home sales declined in September, as eroding affordability conditions reduced sales volume. New single-family home sales declined to a significantly lower 553,000 seasonally adjusted annual rate, a 5.5% drop from a downwardly revised 585,000 annual rate recorded in August. The sales data are produced by HUD and the Census Bureau. The weak September estimate was the lowest… Read More ›
Builder Confidence Rises One Point in October, Remains at Summer Levels
Builder confidence in the market for newly-built single-family homes rose one point to 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence levels have held in the high 60s since June. Builders continue to view solid housing demand, fueled by a growing economy and a nearly 50-year low for unemployment. Lumber price… Read More ›
Summer Sales Soft Patch Continues
Contracts for new, single-family home sales increased slightly in August, expanding 3.5% to a 629,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. However, the gain came off downwardly revised estimates for June and July, consistent with the summer soft patch for new and existing home sales. The June reading was revised down from… Read More ›
Builder Confidence Remains Firm in September
Builder confidence in the market for newly-built single-family homes remained unchanged at a solid 67 reading in September on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite rising affordability concerns, builders continue to report firm demand for housing, especially as millennials and other newcomers enter the market. The recent decline in lumber prices from record-high levels… Read More ›
Additional Growth for Residential Construction Loans
The volume of residential construction loans increased by 1.7% during the second quarter of 2018, marking 21 consecutive quarters of growth. Furthermore, recent stabilization of year-over-year growth rates is an indicator of continued, modest growth for single-family construction. 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… Read More ›
Credit Conditions for AD&C Loans Close to Stable
In the second quarter of 2018, credit conditions for land acquisition, development, and single-family construction loans were close to stable, according to NAHB’s AD&C Financing Survey. The overall net tightening index constructed from the survey was -5.0. The index is constructed so that negative numbers indicate credit easing, positive numbers indicate tightening, and zero indicates perfectly stable conditions. The second… Read More ›
Decline In New Home Sales In July
Contracts for new, single-family home sales declined in July, falling 1.7% to a 627,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The decline came off an upwardly revised June estimate, which was increased from an initial reading of 631,000 to a new estimate of 638,000. The July estimate was the lowest annual pace since… Read More ›
Single-Family Built-for-Rent Housing Expands
The number of single-family homes built-for-rent increased over the last four quarters. During this time period, construction starts of this type of housing totaled 42,000 homes, compared to 29,000 for the prior four quarters. There were 13,000 single-family built-for-rent starts for the second quarter of 2018. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB… Read More ›