Tag Archive for ‘single-family’

Gains Expected for Single-Family Built-for-Rent Construction

The number of single-family homes built-for-rent (SFBFR) posted a small year-over-year increase for the first quarter of 2020 despite otherwise challenging market conditions. The SFBFR market has received attention as a means to add single-family inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period involving elevated unemployment and weak wage growth. Single-family… Read More ›

Townhouse Construction Flat at Start of 2020

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction experienced was flat on a year-over-year basis during the first quarter of 2020. Over the past four quarters, single-family attached housing experienced a small decline, which matches data in the NAHB HBGI. Those estimates reveal reduced construction activity for large metro… Read More ›

Small Gain for Custom Home Building During 1Q20

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building posted a small increase during the first three months of the year, supported by low interest rates and unseasonably mild weather in January and February. While housing construction starts declined in March, and considerably more in April, on net the first quarter… Read More ›

Broad Declines for Housing Starts in April

As indicated by the NAHB/Wells Fargo Housing Market Index (HMI), housing starts retreated in April due to the economic consequences of government-imposed lockdowns associated with virus mitigation. Single-family starts were 25% lower in April, at a seasonally adjusted annual rate of 650,000. Since the peak rate in February, the pace of single-family construction has declined 37%. The April pace was… Read More ›

Builder Confidence Posts Solid Gain After Historic Drop

In a signal that the housing market is showing signs of stabilizing and gradually moving forward in the wake of the COVID-19 pandemic, builder confidence in the market for newly-built single-family homes increased seven points to 37 in May, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The rise in builder sentiment follows the… Read More ›

Construction Layoffs in March

Backward-looking data illustrate the degree of damage done by the sudden stop of the U.S. economy due to the public health response associated with the coronavirus. For example, there were 4,300 net job losses in residential construction in March, followed by a staggering 415,000 losses in home building and remodeling in April. The leading edge of this job loss was… Read More ›

Single-Family Permits Were Solid in March

Over the first three months of 2020 – and prior to the impact of the coronavirus, the total number of single-family permits issued year-to-date (YTD) nationwide reached 220,416. On a year-over-year (YoY) basis, this is an 18.9% increase over the March 2019 level of 185,336. Year-to-date ending in March, single-family permits reported growth across the four regions ranging from 21.7%… Read More ›

Credit for Builders Tightens, Virus Blamed

For the first time since 2012, builders and developers reported tighter credit conditions on loans for land acquisition, development and single-family construction (AD&C) in NAHB’s AD&C financing survey for the first quarter of 2020.  The net tightening index derived from the NAHB survey jumped to 22.7, about 40 points higher than the -22.3 reported in the fourth quarter of 2019. … Read More ›

New Home Sales Decline in March amidst Virus Concerns

Despite a strong start for 2020, new home sales weakened significantly in March due to challenges associated with COVID-19. Contracts for new, single-family home sales declined in March by 15.4% to a 627,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. NAHB expects further declines in a challenging April, which has… Read More ›

Housing Starts Decline in March amidst Virus Impacts

According to estimates from the Housing and Urban Development and Commerce Departments, single-family starts began an expected, virus-related decline in March. Construction activity is expected to fall as virus mitigation efforts result in increased unemployment, economic uncertainty and lost business activity. Despite a strong start for 2020 in January and February, the April NAHB/Wells Fargo HMI point to additional construction… Read More ›