Eye On Housing
Author Archives
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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 ›
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Who are NAHB’s Builder Members?
Every year the National Association of Home Builders conducts a member census in order to better understand the composition and characteristics of the people who belong to its organization. In 2017, 32 percent of NAHB’s members were builders—those directly involved in home building. The remaining 68 percent were associate members—those involved in supportive industries and professions, such as trade contractors,… Read More ›
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Remodeling Market Index Remains in Strong Territory Despite Three Point Slip
The Remodeling Market Index (RMI) dipped three points to 57 in the first quarter of 2018, according to the National Association of Homebuilders. For 20 consecutive quarters the RMI has been at or above 50, which indicates that more remodelers report market activity is higher compared to the prior quarter than report it is lower (Figure 1). The overall RMI… Read More ›
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Hispanic or Latino Homeownership Rates by County
Homeownership is an important driver of wealth creation in the US, with owner-occupied housing accounting for more than 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 differences in homeownership… Read More ›
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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 ›