Eye On Housing
Author Archives
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Rent Index Inches Up in December
In December, inflation-adjusted residential rents increased 0.1 percent over November’s reading, after essentially no growth in October and November (Figure 1). The average monthly growth rate of the real rent index stood at 0.11 percent in 2019, compared to 0.10 percent in 2018. NAHB constructs a “real” rent index to indicate whether inflation in rents is faster or slower than… Read More ›
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Millennial Buyers’ Willingness to Pay for Green Features
Results from NAHB’s report, What Home Buyers Really Want (2019 Edition), show that Millennials want an environment-friendly home, but few are willing to pay more for it for that reason alone. They are, however, willing to pay for certain green features, such as those that provide energy efficiency and cost saving benefits over time. When asked ‘how concerned are you… Read More ›
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Absorption Rate Up Slightly for Apartments in Second Quarter
New data from the U.S. Census Bureau’s Survey of Market Absorption (SOMA) show that the absorption rate of unfurnished, unsubsidized apartments (the share rented out in the first three months following completion) rose two percentage points to 58 percent in the second quarter of 2019 (from the second quarter of 2018) (Figure 1). The number of apartments completed in the… Read More ›
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Tracking Lifetime Homeownership Rates
A recent NAHB Special Study uses the National Longitudinal Survey of Youth (NYLS) to study lifetime homeownership rates and how long individuals sustain in homeownership. The study finds a lifetime homeownership rate of 90.5% among the 1979 NLSY cohort, meaning that most people become homeowners at some point in life (Figure 1). This finding is a reminder of the importance… Read More ›
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Specialty Rooms Wanted by Millennial Home Buyers
A laundry room is the most popular specialty room (anything other than a bedroom, bathroom or kitchen) among Millennial home buyers, with 86 percent of them reporting that it is a desirable (36 percent) or essential/must have (50 percent) room (Figure 1). This data comes from a recent NAHB report, What Home Buyers Really Want (2019 Edition), which is based… Read More ›
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Multifamily Builder and Developer Confidence Weakens Slightly in Third Quarter
Builder and developer confidence in the multifamily housing market weakened slightly in the third quarter, according to results from NAHB’s Multifamily Market Survey (MMS). The MMS produces two separate indices: The Multifamily Production Index (MPI) and the Multifamily Vacancy Index (MVI). The MPI dropped seven points to 49 in the third quarter of 2019 (from 56 in the second quarter)… Read More ›
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Minority Homeownership Rate Increases in Third Quarter
According to a new data release from the Census’ Housing Vacancies and Homeownership Survey (CPS/HVS), the minority homeownership rate posted an increase in the third quarter of 2019 to 48.3 percent, up 0.9 percentage points from the third quarter of 2018 (Figure 1). This year-over-year gain is higher than the gain in the overall U.S. homeownership rate, which rose 0.4… Read More ›
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Top Bathroom Features Among Millennial Home Buyers
The most wanted bathroom feature among Millennial home buyers is ‘both a shower stall & tub in the master bath’, according to a report recently published by the National Association of Home Builders (NAHB), What Home Buyers Really Want (2019 Edition). Seventy-six percent of Millennial home buyers want this feature. The report is based on a survey that asks prospective… Read More ›
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55+ Housing Market Ticks Back Up to Record High
Builder and developer confidence in the 55+ housing market strengthened in the third quarter of 2019, as reflected by the single-family 55+ housing market index (55+ HMI) reading of 72, up one point from the previous quarter (Figure 1). This is the highest reading since the inception of the index in 2008. NAHB produces two 55+HMIs, measuring sentiment in both… Read More ›
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Remodelers’ Confidence Holds Steady in Third Quarter of 2019
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 55 in the third quarter of 2019, unchanged from last quarter (Figure 1). Since the second quarter of 2013, the RMI has been above its breakeven point of 50, which indicates that more remodelers report market activity is higher than report it is lower, compared… Read More ›