Eye On Housing
Author Archives
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Examining the Spatial Distribution of Rental Housing
With disruption to home construction from the Great Recession and more recently, declining affordability of homeownership, the number of renters in the US has expanded, reaching 109 million in 2017 or 34 percent of the population (up from 89 million and 30 percent in 2007). As renting becomes more common, it is important to examine the types of rental structures… Read More ›
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The Countertops and Colors Millennials Want in Their Kitchens
A recent survey conducted by the National Association of Home Builders highlights the preferred kitchen colors and features among recent and prospective Millennial home buyers (defined as those born after 1980). A considerable share of Millennials – 31 percent – prefer white kitchen cabinets. However, as far as other cabinet color options, Millennials are essentially split: 18 percent prefer dark… Read More ›
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Minority Homeownership Rate Continues to Decline
The minority homeownership rate declined again in the second quarter of 2019, edging down to 46.9 percent from 47.4 percent in the second quarter of 2018. This is its lowest level since the third quarter of 2017. The most recent release of the US Census’ Housing Vacancies and Homeownership Survey (CPS/HVS) also shows that the overall U.S. homeownership rate declined… Read More ›
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Apartment and Condominium Confidence Rebounds to Positive Territory in Second Quarter
Builder and developer confidence in the multifamily market strengthened in the second quarter of 2019, according to the National Association of Home Builders’ (NAHB) Multifamily Market Survey (MMS). The MMS consists of two indices measuring supply and demand in the multifamily market: the Multifamily Production Index (MPI) and the Multifamily Vacancy Index (MVI). In the second quarter, the MPI jumped… Read More ›
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55+ Housing Market Remains Solid in Second Quarter
Builder confidence in the 55+ housing market remained solid in the second quarter with a single-family 55+ Housing Market Index (55+ HMI) reading of 71, down one point from the first quarter of 2019, according the National Association of Home Builders (NAHB) (Figure 1). The drop in the index from the first quarter was due to a slight softening in… Read More ›
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Apartment Absorption Shows Weakness
In the fourth quarter of 2018, 56,950 apartment units were completed, an 18 percent decline from the fourth quarter of 2017 (69,640) (Figure 1). Apartment completions in the fourth quarter of 2018 were at their lowest point since the fourth quarter of 2013. These data come from the US Census Bureau, in collaboration with the US Department of Housing and… Read More ›
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Remodeling Market Remains Solid in the Second Quarter
Remodelers’ confidence remained solid in the second quarter of 2019 with a Remodeling Market Index (RMI) reading of 55, up one point from the previous quarter, according to the National Association of Home Builders (NAHB) (Figure 1). Readings above 50 indicate that more remodelers report market activity as higher than as lower, compared to the previous quarter. The RMI is… Read More ›
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2017 Residential Electricity Bill by State
According to the U.S. Department of Energy – Energy Information Administration (EIA), the average monthly residential electricity bill in the U.S. stood at $111.67 in 2017. Electricity is one of the biggest household expenses, as it accounted for 55 percent of total utility costs and 9 percent of total housing costs in 2017, according to the American Housing Survey (AHS)…. Read More ›
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Minority Homeownership Rate Drops in the First Quarter of 2019
Every quarter the US Census Bureau publishes results from its Housing Vacancies and Homeownership Survey (CPS/HVS). In the first quarter of 2019 the U.S. homeownership rate stood at 64.2 percent, unchanged from its level during the same time last year, but slightly down from the fourth quarter of 2018 (64.8 percent) (Figure 1). A recent NAHB blog shows that although… Read More ›
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A Nation of Builders
Every year the National Association of Home Builders conducts a member census to better understand the composition and characteristics of the people who belong to its organization. In 2018, 32 percent of NAHB’s members were builders—those whose primary business is single-family home building, multifamily building, residential or commercial remodeling, commercial building, land development, or manufacturing of modular/panelized/log homes. The remaining… Read More ›