Eye On Housing
Author Archives
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Remodeling Confidence Remains Solid
The Remodeling Market Index (RMI) remained stable with a reading of 58 in the third quarter of 2018, according to the National Association of Home Builders (NAHB). The RMI has been at or above 50 since the second quarter of 2013, which indicates that more remodelers report market activity is higher than report it is lower (Figure 1). The overall… Read More ›
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Air Conditioning and Heating Systems in New Homes
Air Conditioning Systems The Census Bureau’s Survey of Construction (SOC) provides valuable information on the characteristics of new homes started, such as air conditioning and heating system installations. In 2017, 93.5 percent of new single-family homes started had a central AC system, the same share as in 2016. The trend, going back to 2000, shows a steady rise in the… Read More ›
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Multifamily Units by Building Size
The US Census Bureau recently released data on 2017 multifamily unit completions by building type from the Survey of Construction (SOC). In 2017, there was a significant expansion in the construction of units in large multifamily buildings (buildings with 50 or more units): units in these buildings grew by 18 percent to 187,000, the largest number since the start of… Read More ›
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Homeownership Rates by Minority Groups
The homeownership rate for “all minorities” increased to 47.4 percent in the second quarter of 2018, up 0.6 percent from the same time last year (46.8 percent). This increase helped boost the overall homeownership rate to 64.3 percent, also up 0.6 percent from the second quarter of 2017 (Figure 1). A recent NAHB blog covers the overall homeownership rate in… Read More ›
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55+ Housing Market Index Remains in Positive Territory
Builder confidence in the 55+ single-family housing market remains in positive territory with the 55+ single-family housing market index (55+ HMI) increasing one point to 67 in the second quarter, according to the National Association of Home Builders (NAHB) (Figure 1). There are separate 55+ HMIs for two segments of the 55+ housing market: single-family homes and multifamily condominiums. Each… Read More ›
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Apartment Absorption Remains Steady
The US Census Bureau’s Survey of Market Absorption (SOMA), produced in collaboration with the Department of Housing and Urban Development, provides users with the opportunity to take a look at apartment completions and absorption rates on a quarterly basis. According to the SOMA, completions of unfurnished, unsubsidized apartments in buildings with five or more units totaled to 70,400 in the… Read More ›
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Remodeling Confidence Increases Despite Rising Costs
The Remodeling Market Index (RMI) rose one point to 58 in the second quarter of 2018, according to the National Association of Home Builders (NAHB). A RMI reading above 50 indicates that more remodelers report market activity is higher than report it is lower compared to the prior quarter. The RMI has been above 50 for 21 consecutive quarters (Figure… Read More ›
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The Multifamily Market Remains Positive in the First Quarter
Confidence in the Multifamily Market remained firm in the first quarter of 2018 with a Multifamily Production Index (MPI) of 53, 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… Read More ›
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Builder Confidence in the 55+ Housing Market Remains Healthy in First Quarter
The 55+ single-family housing market index (55+HMI) dropped five points to 66 in the first quarter of 2018, according to the National Association of Home Builders (NAHB) (Figure 1). The decline comes after an all-time index high of 71 in the fourth quarter of 2017. There are separate 55+ HMIs for two segments of the 55+ housing market: single-family homes… Read More ›
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Apartment Absorption Steady While Condominium Absorption Climbs
The U.S. Census Bureau produces the Survey of Market Absorption (SOMA), which tracks what happens to apartments in buildings with five or more units after they are completed. In the third quarter of 2017, 77,900 unfurnished, unsubsidized rental apartments were completed. This is a 6 percent increase over units completed in the third quarter of 2016 (73,400 units) (FIGURE 1)…. Read More ›