Eye On Housing
Author Archives
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Real Rent Index Edges Up in September
In September, NAHB’s Real Rent Index increased 0.2 percent over August’s reading, after essentially no growth between June and August (Figure 1). Over the first nine months of 2019, the average monthly growth rate of the Real Rent Index was 0.13%, slightly higher than the average of 0.11% in 2018. NAHB constructs a “real” rent index to indicate whether inflation… Read More ›
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Top Community Features Wanted by Millennials Home Buyers
A park area is the top community feature wanted by Millennial home buyers (71 percent), according to an NAHB report, What Home Buyers Really Want (2019 edition) (Figure 1, hover over bars for total shares). The report is based on a survey asking prospective and recent home buyers about the features they want in a home or community. As part… Read More ›
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Millennials Want Spacious, New Single-Family Homes
Millennials (those born in 1980 or after) want a median of 2,407 square feet in a home, according to the NAHB report, What Home Buyers Really Want (2019 Edition). The report is based on a survey of prospective and recent home buyers and asks them about the features they want in a home and a community. The median square footage… Read More ›
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Top Green Features Millennials Want in a Home
Energy Star®-rated appliances are the green feature that Millennials want the most in a home (75 percent), according to an NAHB report, What Home Buyers Really Want (Figure 1, click on bars for total shares). The report is based on a survey that asks prospective and recent home buyers about the features they want in a home or a community…. Read More ›
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The Layouts Millennials Want in a Home and Other Preferences
What kind of layout do Millennials envision for their home? A plurality of Millennials – 43 percent – want a completely open layout for their family room and dining room, a higher share than any other generation, according to an NAHB report, What Home Buyers Really Want (Figure 1). The report is based on a survey that asks prospective and… Read More ›
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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 ›