Eye On Housing
Reflecting the growing effects of the COVID-19 pandemic, builder confidence in the market for newly-built single-family homes plunged 42 points in April to 30, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The decline in April was the largest single monthly change in the history of the index and marks the lowest builder confidence… Read More ›
Over the first two 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 141,467. On a year-over-year (YoY) basis, this is a 21.8% increase over the February 2019 level of 116,189. Year-to-date ending in February, single-family permits reported growth across the four regions ranging from 27%… Read More ›
As the U.S. economy struggles under the burden of the coronavirus pandemic, economists are discussing how a recovery might unfold once social distancing and other measures begin to succeed. A recent NAHB article illustrates the role home building can play in a recovery by generating jobs. The article published updated estimates of the national economic impact of home building. The… Read More ›
New home sales were solid in February before challenges associated with the coronavirus set in on the economy. Contracts for new, single-family home sales declined slightly in February by 4% to a 756,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. However, this marked a 14% gain over the February 2019… Read More ›
Over the first month of 2020 – and prior to the impact of the coronavirus, the total number of single-family permits issued year-to-date (YTD) nationwide reached 70,386. On a year-over-year (YoY) basis, this is a 21.2% increase over the January 2019 level of 58,086. Year-to-date ending in January, single-family and multifamily permits reported growth across the country. Northeast led in… Read More ›
Builder confidence in the market for newly-built single-family homes fell two points to 72 in March, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Sentiment levels have held in a firm range in the low- to mid-70s for the past six months. Builder confidence remains solid, although sales expectations for the next six months… Read More ›
As interest rates declined during the second half of 2019, the stock of outstanding residential construction loans declined during the final quarter of 2019. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions declined 0.8%. The volume of loans fell by $615 million during the quarter, placing the total stock of loans at $79.7 billion. On a… Read More ›
Contracts for new, single-family home sales increased 7.9% in January to a 764,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The increase came off an upwardly revised December estimate, which was revised from an initial reading of 694,000 to a new estimate of 708,000. Year-over-year, the January estimate is 18.6%… Read More ›
New single-family home size trended lower during the final quarter of 2019 as interest rates remained low and builders seek to add additional entry-level supply. According to fourth quarter 2019 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked down to 2,252 square feet. Average (mean) square footage… Read More ›
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded during the fourth quarter of 2019, supported by low mortgage interest rates. There were 44,000 total custom building starts during the fourth quarter of 2019. This marks a 16% gain over the final quarter of 2018 total of 38,000. Over the… Read More ›