The volume of total outstanding acquisition, development and construction (AD&C) loans posted a decline during the third quarter of 2023 as interest rates increased and financial conditions tightened. The volume
National home prices continued to increase in September. Despite rising mortgage rates, limited inventory and solid but weakened demand provided solid support for home prices. Locally, all of 20 metro
The most recent release of the Census Bureaus’ Survey of Market Absorption of New Multifamily Units (SOMA) reported that of the 99,290 unfurnished, unsubsidized apartments completed in the second quarter
The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties)
Elevated mortgage rates that averaged 7.62% in October per Freddie Mac, the highest rate since 2000, depressed buyer demand and pushed down new home sales in October. Sales of newly
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts remained elevated during the third quarter of 2023. For the quarter, 104,000 multifamily residences started
An expected impact of the virus crisis was a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as
Existing home sales in October fell to the lowest level since August 2010, as limited inventory and higher mortgage rates continued to weigh on homebuyers, according to the National Association
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates a slowing market for custom home building after a recent gain in market share. There
Nonfarm payroll employment increased in 25 states in September compared to the previous month, while 22 states lost jobs. The District of Columbia, North Dakota, New Mexico, and Virginia reported
Single-family built-for-rent construction has cooled as investor interest has pulled back on tighter financial conditions, leading to flat construction conditions after recent gains. According to NAHB’s analysis of data from
Despite weakness for single-family construction in 2023, townhouse construction recorded the best quarter for starts in 16 years. According to NAHB analysis of the most recent Census data of Starts and
Single-family construction held steady in October as high mortgage rates depressed demand but more buyers turned to new homes because of a lack of existing inventory. Overall housing starts increased
Confidence in the market for new multifamily housing was in negative territory for the third quarter, according to results from the Multifamily Market Survey (MMS) released today by the National
High mortgage rates that approached 8% earlier this month continue to hammer builder confidence, but recent economic data suggest housing conditions may improve in the coming months. Builder confidence in
According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) declined 0.1% in October (not seasonally adjusted) following a 0.2%
Over the first nine months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 693,908. On a year-over-year (YoY) basis, this is 13.3% below the September
Consumer prices in October remained unchanged, with the increase in shelter index being offset by the decline in the gasoline index. This cooling inflation increases the probability that the Fed