Eye On Housing
Author Archives
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Black Homeownership Rates by County
Homeownership has been and continues to be an important driver of wealth creation in the US, with owner-occupied housing accounting for almost a quarter of assets among US households. When examining homeownership across different demographic groups, rates vary significantly, indicating that the economic and financial benefits of homeownership do not reach everyone. A recently released NAHB special study explores the geographic… Read More ›
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Apartment and Condominium Market Ends Fourth Quarter on a Positive Note
The Multifamily Production Index (MPI) gained seven points to 53 in the fourth quarter of 2017, according to the National Association of Home Builders (NAHB) (Figure 1). The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so… Read More ›
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Fourth Quarter Gains in Homeownership by Race and Ethnicity
As described in a previous post, a recent release from the Census Bureau’s Housing Vacancy and Homeownership (CPS/HVS) survey shows that the US homeownership rate increased to 64.2 percent in the fourth quarter of 2017. In addition to this overall result, unpublished tables from the CPS/HVS contain a homeownership rate for “all minorities”, which also improved, going from 46.7 percent… Read More ›
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55+ Housing Market Ends Fourth Quarter on Record-High
The 55+ Single-Family Housing Market Index (55+ HMI) jumped 12 points to reach a record high of 71 in the fourth quarter of 2017, according to the National Association of Home Builders (Figure 1). The fourth quarter also marks the 15th consecutive quarter in which the index has been above 50, the break-even point at which more respondents view conditions as… Read More ›
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The Remodeling Market Index Hits 60 in Fourth Quarter
The Remodeling Market Index (RMI) increased three points to 60 in the fourth quarter of 2017, according to the National Association of Home Builders (NAHB). This quarter marks the second time in the RMI’s history (dating back to 2001) in which the index reached 60 (Figure 1). For 19 consecutive quarters, the RMI has been at or above 50, which… Read More ›
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Apartment and Condominium Absorption Increased in Q2 2017
The Census Bureau, in collaboration with the Department of Housing and Urban Development (HUD), produces the Survey of Market Absorption (SOMA), which tracks apartment and condominium completions, absorption rates (the share of apartments/condos rented or purchased within the first 3 months after completion), and asking rent prices. In the second quarter of 2017, completions of unfurnished, unsubsidized, privately financed apartments… Read More ›
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Homeownership by Race and Ethnicity
Data from the Census Bureau’s Housing Vacancy and Homeownership (CPS/HVS) survey show that the US homeownership rate increased to 63.9 percent in the third quarter of 2017, up 0.4 percentage points from the third quarter of 2016. A series of blogs on Eye on Housing cover this topic along with CPS/HVS data on vacancies and household formations. Also produced from… Read More ›
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Number of Bathrooms in New Homes
Every year, the US Census Bureau publishes data on the characteristics of new single-family homes started in its Survey of Construction. In 2016, 3.7 percent of new single-family homes started had 1 bathroom or less, 60.9 percent had 2 bathrooms, 26.7 percent had 3 bathrooms, and 8.7 percent had four bathrooms or more (Figure 1). The term ‘bathroom’ in this… Read More ›
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Air Conditioning and Heating Systems in New Homes
Air Conditioning Systems Every year, the US Census Bureau publishes information on characteristics of new homes started in its Survey of Construction (SOC), including air conditioning and heating systems. In 2016, 93.5 percent of new single-family homes started included a central air conditioning system (Figure 1). The share of new homes with central AC rose steadily between 2000 and 2004,… Read More ›
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Multifamily Developer Confidence Weakens in Third Quarter
The National Association of Home Builders’ (NAHB) Multifamily Production Index (MPI) dropped 10 points to 46 in the third quarter of 2017 (Figure 1). This quarter marks the lowest MPI reading since the second quarter of 2011. The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100…. Read More ›