Eye On Housing
Over the first eleven months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 791,452. On a year-over-year (YoY) basis, this is a 1.0% decline over the November 2018 level of 799,679. Year-to-date ending in November, single-family permits reported declines in three regions and a slight increase in the South. The Northeast reported the steepest… Read More ›
Home building in the 2010s was a story of the Long Recovery. After the Great Recession, the number of home builders declined significantly, and housing production was unable to meet buyer demand. This deficit of housing in the United States continues to exist because of persistent supply-side headwinds for builders, creating a critical housing affordability challenge for renters and homebuyers…. Read More ›
According to data from the Census Bureau’s Survey of Construction (SOC), 62.5 percent of all homes started in 2018 were built within a community or homeowner’s association. A total of 543,000 homes with community associations were started in 2018, compared to 508,000 in 2017. The Census Bureau defines community or homeowner’s associations as “formal legal entities created to maintain common… Read More ›
New home sales posted a small gain in November, after downward revisions for prior months. However, the sales pace for newly-built single-family homes is ending the year strong, with solid demand pointing to additional construction gains in 2020. Contracts for new, single-family home sales increased slightly in November by 1.3% to a 719,000 seasonally adjusted annual rate according to estimates… Read More ›
Looking at single-family homes started in 2018, the median prices per square foot, excluding improved lot values, range from $154 for contractor-built homes in New England to $89 for homes built for sale in the East South Central division. While the median sale and contract prices per square foot are up across most of the nation, some of the most… Read More ›
According to estimates from the Housing and Urban Development and Commerce Departments, single-family starts expanded in November, albeit off downwardly revised numbers from prior months. The three-month moving average for single-family construction is currently at a post-recession high, which combined with strong reporting from the NAHB/Wells Fargo Housing Market Index (HMI), indicates future growth ahead. Single-family starts increased 2.4% to… Read More ›
Builder confidence in the market for newly-built single-family homes increased five points to 76 in December off an upwardly revised November reading, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. This is the highest reading since June of 1999. Builders are continuing to see the housing rebound that began in the spring,… Read More ›
Over the first ten months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 727,301. On a year-over-year (YoY) basis, this is a 1.6% decline over the October 2018 level of 739,120. Year-to-date ending in October, single-family permits reported declines in three regions and a slight increase in the South. The Northeast reported the steepest decline… Read More ›
After a slight (and delayed) dip in interest rates for AD&C loans, the stock of outstanding residential construction loans expanded during the third quarter of 2019. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased 0.8%. The volume of loans increased by $628 million during the quarter, placing the total stock of loans at $80.3 billion…. Read More ›
In the third-quarter of 2019, builders and developers reported declining interest rates on all types of loans covered in NAHB’s survey on acquisition, development and construction (AD&C) financing. In the third quarter, the average interest rate declined from 6.59 to 6.39 percent on loans for land acquisition, from 6.49 to 6.39 percent on loans for land development, from 6.21 to… Read More ›