Eye On Housing
Author Archives
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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 ›
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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 ›