Custom Home Building Share Declines in 2023
In 2023, 18.8 percent of all new single-family homes started were custom homes. This share decreased from the 20.4 percent recorded in 2022, according to data tabulated from the Census…
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Price Growth for Inputs to Residential Construction Slows in August
Prices for inputs to new residential construction, excluding capital investment, labor and imports decreased 0.1% in August according to the most recent Producer Price Index (PPI) report published by the…
Builder Sentiment Rises as Rates Fall but Affordability Challenges Persist
With mortgage rates declining by more than one-half of a percentage point from early August through mid-September, per Freddie Mac, builder sentiment edged higher this month even as builders continue…
Apartment Construction Time Averaged 20 Months in 2023
The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, according to the 2023 Survey of Construction (SOC) from the…
New Homes Built with Private Wells and Individual Septic Systems in 2023
Shares of new single-family homes built with private wells and individual septic systems decreased in 2023, compared with the previous year. NAHB tabulation of data from the Survey of Construction…
Market Share for Modular and Other Non-Site Built Housing in 2023
The total market share of non-site built single-family homes (modular and panelized) was just 3% of single-family homes in 2023, according to completion data from the Census Bureau Survey of…
Rising Homeownership Rate for Multigenerational Households
The homeownership rate for multigenerational households surpassed that of all other family household types in 2022 and now stands at 74.2%, exceeding the homeownership rate of other family households of…