Eye On Housing
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction slowed during the second quarter of 2019 after a strong 2018 performance. This market softness matches recent data in the NAHB HBGI, which showed weak construction activity for large metro suburban markets at the start of 2019. Nonetheless, townhouse construction is… Read More ›
New single-family home size decreased during the second quarter of 2019 as interest rates declined. According to second 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 2,245 square feet. Average (mean) square footage for new single-family homes declined to 2,465 square feet. On… Read More ›
The number of single-family homes built-for-rent has held steady over the last year amidst declines for other forms of home construction. (You can read more here on how single-family built-for-rent homes differ from for-sale construction.) According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were 11,000 single-family built-for-rent starts for… Read More ›
According to estimates from the U.S. Housing and Urban Development and Commerce Department, the pace of single-family construction continued to improve in July. After reaching a post-winter low annualized rate of 814,000 in April, single-family starts expanded to an 876,000 pace in July, a 1.3% gain over the revised June estimate. However, single-family starts remain 3.3% lower a on a… Read More ›
Builder confidence in the market for newly-built single-family homes rose one point to 66 in August, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Sentiment levels have held at a solid 64-to-66 level for the past four months. Even as builders report a firm demand for single-family homes, they continue to struggle… Read More ›
Over the first six months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 417,453. On a year-over-year (YoY) basis, this is a 6.1% decline over the June 2018 level of 444,600. Year-to-date ending in June, single-family permits reported declines in all four regions. The Midwest, Northeast, South, and the West declined by 9.8%, 3.0%, 3.7%,… Read More ›
Contracts for new, single-family home sales increased in June by 7.0% to a 646,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The increase came off a downwardly revised May estimate, which was decreased from an initial reading of 626,000 to a new estimate of 604,000. Year-over-year, the June estimate is 4.5% higher compared to… Read More ›
According to estimates from the U.S. Housing and Urban Development and Commerce Department, single-family starts improved in June, consistent with the recent stabilization of the NAHB/Wells Fargo Housing Market Index (HMI). Single-family starts increased 3.5% to a 847,000 seasonally adjusted annual pace in June. However, total housing starts were down approximately 1% (1.253 million annual rate) due to a decline… Read More ›
Builder confidence in the market for newly-built single-family homes rose one point to 65 in July, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This marks the sixth consecutive month that sentiment levels have held at a steady range in the low- to mid-60s. Builders report solid demand for single-family homes. However, they continue… Read More ›
Over the first five months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 342,116. On a year-over-year (YoY) basis, this is a 5.8% decline over the May 2018 level of 363,327. Year-to-date ending in May, single-family permits reported declines in all four regions. The Midwest, West, South, and the Northeast declined by 10.6%, 11.0%, 2.8%,… Read More ›