The percentage of new apartment units that were absorbed within three months of completion rose from 50% to 55% in the second quarter of 2024, according to the Census Bureau’s
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined during the third quarter of 2024. For the quarter, 94,000 multifamily residences started construction.
Steadily rising mortgage rates coupled with ongoing affordability challenges kept many potential home buyers on the sidelines in October. Sales of newly built, single-family homes in October declined 17.3% to
Home price growth continued to slow in September, growing at a rate just below 4% year-over-year. The S&P CoreLogic Case-Shiller Home Price Index (seasonally adjusted – SA) posted a 3.89%
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)
An expected impact of the virus crisis was a need for more residential space, as people used homes for more purposes including work. Home size correspondingly increased in 2021 as
Existing home sales in October rebounded from a 14-year low and posted the first annual increase in more than three years, as buyers took advantage when mortgage rates briefly reached
In another sign of America’s ongoing housing affordability crisis, the National Association of Home Builders /Wells Fargo Cost of Housing Index (CHI) found that in the third quarter of 2024,
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates relatively flat conditions for custom home builders after a period slight softening of market share
Reflecting the sharp increase in net immigration of recent years, the number of new immigrants joining the construction industry rose substantially in 2022. According to the latest American Community Survey
Single-family built-for-rent construction posted year-over-year gains for the third quarter of 2024, as builders sought to add additional rental housing in a market facing ongoing, elevated mortgage interest rates. According
Clouded by hurricanes in the southeast part of the country and strike activity in the manufacturing sector, October nonfarm payroll figures were mediocre. Nonfarm payroll employment increased in 21 states
Year-over-year gains for townhouse construction continued during the third quarter of 2024 as demand for medium-density housing continues to be solid despite slowing for other sectors of the building industry.
Housing starts edged lower last month as average monthly mortgage rates increased a quarter-point from 6.18% to 6.43% between September and October, according to Freddie Mac. Overall housing starts decreased
Lending standards were essentially unchanged for all residential mortgage categories in the third quarter of 2024, except for Subprime loans, according to the Federal Reserve Board’s October 2024 Senior Loan Officer
Builder sentiment improved for the third straight month, and builders expect market conditions will continue to improve with Republicans winning control of the White House and Congress. Builder confidence in
Over the first nine months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 763,990. On a year-over-year (YoY) basis, this is an increase of 10.1%
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—decreased 0.2% in October according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau