Eye On Housing
Author Archives
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Rental Apartment Absorption Flat While Condominium Absorption Jumps
The US Census Bureau, in collaboration with the US Department of Housing and Urban Development, releases data on completions and absorption rates for multifamily buildings with at least 5 apartments. The most recent release shows that completions of nonsubsidized, unfurnished, rental apartments amounted to 73,800 in the third quarter of 2016. This is 11,700 more than the second quarter of 2016, but… Read More ›
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Apartment and Condominium Market Momentum Continues
The National Association of Home Builders’ Multifamily Production Index (MPI) increased two points to 55 in the fourth quarter of 2016. For five straight years, the MPI has been at or above 50, which indicates that more respondents report conditions are improving than report conditions are getting worse (Figure 1). Figure 1: NAHB Multifamily Production Index (MPI) and Multifamily Starts… Read More ›
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The Average Number of School Age Children per Home
Across the United States, builders are often charged impact fees by local governments to help pay for infrastructure associated with children in new residential developments entering the public education system. Therefore, builders have an interest in ensuring that the number of school age children in new developments is accurately estimated. Local governments also benefit from this data because it can… Read More ›
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55+ Housing Market Ends Fourth Quarter on Record-High
The single-family 55+ Housing Market Index (55+ HMI) jumped eight points to 67 in the fourth quarter of 2016, according to the National Association of Home Builders (NAHB). This is the highest reading since the inception of the index in 2008 (Figure 1). The NAHB produces two 55+ HMIs: one for the single-family market and another for multifamily condominiums. Each index… Read More ›
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Remodeling Market Remains Positive in Fourth Quarter
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) dropped 4 points to 53 from the previous quarter, but remained above the breakeven point of 50, which indicates that more remodelers report activity is higher (compared to the prior quarter) than report activity is lower. Although the RMI declined, it is consistent with levels seen in the first… Read More ›
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Absorption Data Indicate Multifamily Market Leveling Off
The US Census Bureau recently released data on multifamily completions and absorption rates from the second quarter of 2016. Completions of privately financed, unfurnished, unsubsidized apartments in buildings with five or more units totaled to 62,600, which is approximately 5,000 fewer than completions in the second quarter of 2015 (Figure 1). Examining Figure 1 further indicates a leveling off of multifamily… Read More ›
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Popularity of Building Information Modeling Increases among NAHB Members
More NAHB members are familiar with and are using Building Information Modeling (BIM) for their businesses, a recently conducted NAHB survey shows. BIM is a process for managing the information produced during a construction project, in a common format, from the earliest feasibility stage through design, construction, operation and finally demolition, in order to make the most efficient use of… Read More ›
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Apartment and Condominium Market Posts Positive Gains in the Third Quarter
The Multifamily Production Index (MPI) posted a three point gain to 53 in the third quarter of 2016, according to the National Association of Homebuilders (NAHB). 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 that… Read More ›
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55+ Housing Market Has Strong Third Quarter
The 55+ Housing Market strengthened in the third quarter of 2016, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (55+HMI). The index increased two points to 59 from the previous quarter (Figure 1). This quarter marks the 10th consecutive quarter in which the index has been above the breakeven point of 50, which means that… Read More ›
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Remodeling Market Optimism Strengthens in Third Quarter
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) increased four points to 57 in the third quarter of 2016. This quarter’s reading marks a return to index levels seen consistently throughout 2015 (Figure 1). For fourteen consecutive quarters the RMI has been above the breakeven point of 50, which indicates more remodelers report market activity is higher… Read More ›