Tag Archive for ‘single-family’

Some Easing of AD&C Lending, According to Builders and Developers

In the third quarter of 2018, credit conditions eased somewhat, according to the builders and developers responding to NAHB’s survey on land acquisition, development, and construction (AD&C) loans. The net tightening index constructed from the NAHB survey was -12.0 in the third quarter quarter, compared to -5.0 the previous quarter. The index is constructed so negative numbers indicate easing of credit; positive tightening, so… Read More ›

Entry-Level Home Inventory Yields Declining New Home Size

Continuing a multiyear trend, new single-family home size decreased during the third quarter of 2018. New home size has been falling over the last three years due to an incremental move to additional entry-level home construction. According to third quarter 2018 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area decreased to 2,320 square… Read More ›

Builder Confidence Drops as Housing Affordability Issues Rise

Growing affordability concerns resulted in builder confidence in the market for newly-built single-family homes falling eight points to a level of 60 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite the sharp drop, builder sentiment still remains in positive territory. Builders report that they continue to see signs of consumer demand for new… Read More ›

Modular and Other Non-Site Built Housing

The total market share of non-site built single-family homes was 3.3% of single-family completions in 2017, according to Census Bureau Survey of Construction data and NAHB analysis. This share is expected to rise in 2018 and in the years ahead, due to the ongoing labor shortage in the residential construction sector and the need to lift labor productivity amid declining… Read More ›

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 ›