Eye On Housing
Author Archives
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Number of Bathrooms in New Homes
Every year, the US Census Bureau publishes data on the characteristics of new single-family homes started in its Survey of Construction. In 2016, 3.7 percent of new single-family homes started had 1 bathroom or less, 60.9 percent had 2 bathrooms, 26.7 percent had 3 bathrooms, and 8.7 percent had four bathrooms or more (Figure 1). The term ‘bathroom’ in this… Read More ›
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Air Conditioning and Heating Systems in New Homes
Air Conditioning Systems Every year, the US Census Bureau publishes information on characteristics of new homes started in its Survey of Construction (SOC), including air conditioning and heating systems. In 2016, 93.5 percent of new single-family homes started included a central air conditioning system (Figure 1). The share of new homes with central AC rose steadily between 2000 and 2004,… Read More ›
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Multifamily Developer Confidence Weakens in Third Quarter
The National Association of Home Builders’ (NAHB) Multifamily Production Index (MPI) dropped 10 points to 46 in the third quarter of 2017 (Figure 1). This quarter marks the lowest MPI reading since the second quarter of 2011. The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100…. Read More ›
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55+ Builders and Developers Stay Confident in Third Quarter
Builder confidence in the 55+ housing market remained in positive territory in the third quarter of 2017, with a single-family 55+ housing market index reading (55+ HMI) of 59 (Figure 1). The index dropped seven points this quarter, but it is the 14th consecutive quarter in which it has been above 50, the break-even point at which more respondents view… Read More ›
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2016 Multifamily Completions by Building Size
The Census Bureau recently released 2016 multifamily completions data from the Survey of Construction. A total of 159,000 housing units, or 49 percent of all multifamily completions, were in buildings with 50 or more units, more than any other building type (Figure 1). Multifamily completions in large buildings (50 or more units) grew significantly after the Great Recession, but growth… Read More ›
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Remodeling Market Index Maintains Strength in Third Quarter
The Remodeling Market Index (RMI) posted a reading of 57 in the third quarter of 2017, up two points from the previous quarter, according to the National Association of Home Builders (Figure 1). For 18 consecutive quarters, the RMI has been at or above 50, which indicates that more remodelers report market activity is higher than report it is lower… Read More ›
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Apartment Absorption Flat While Condo Absorption Climbs
The Census Bureau, in collaboration with the Department of Housing and Urban Development (HUD), recently released 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 prices. In the first quarter of 2017, completions of unfurnished, unsubsidized, privately financed apartments… Read More ›
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A Deeper Look at Rent-Burdened Households
Households paying 30 percent of more in rent, a threshold long used by the federal government to identify “rent-burdened” households, has been a significant housing issue for some time. Nearly half of renter households (48 percent) in the U.S. were rent-burdened in 2015.[1] The large share of rent-burdened households is a symptom of the broader affordability problem in the housing… Read More ›
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The Multifamily Production Index Bounces Back to Trend in Second Quarter
The Multifamily Production Index (MPI) climbed eight points to 56 in the second quarter of 2017, according to the National Association of Home Builders (NAHB). This quarter’s reading is the highest since the third quarter of 2015 (Figure 1). The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0… Read More ›
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Builder Confidence in the 55+ Housing Market Strengthens in Second Quarter
The National Association of Home Builders’ (NAHB) single-family 55+ housing market index (55+ HMI) posted a reading of 66 in the second quarter of 2017, up 11 points from the previous quarter. This is the 13th consecutive quarter with a reading above 50, which means that more builders view conditions as good than poor (Figure 1). There are two… Read More ›