Eye On Housing
Author Archives
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Slower Jobs Gains in October: State-Level Analysis
Nonfarm payroll employment increased in 45 states in October compared to the previous month. The largest increase came from California, which added 145,500 jobs during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 638,000 over the month of October, following an increase of 672,000 jobs in September. Month-over-month (MoM), total nonfarm employment… Read More ›
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Garages in New Homes: 2019 Data
A majority of new homes that completed construction in 2019 included two-car garages (65%), according to NAHB analysis of 2019 Census Bureau Survey of Construction data. There is clear uniformity for parking options in new homes completed across the Census divisions: the 2-car garage was the most popular parking option for completed homes in all divisions. The option for three or… Read More ›
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Strong Gains for September Single-Family Permits
Over the first nine months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 713,286. On a year-over-year (YoY) basis, this is an 10.2% increase over the September 2019 level of 647,244. Year-to-date ending in September, single-family permits across the four regions ranged from an increase of 12.4% in the South to an increase of 6.2% in the Northeast…. Read More ›
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Slower Jobs Gains in September: State-Level Analysis
Nonfarm payroll employment increased in 41 states in September compared to the previous month. The largest increase came from New York, which added 109,300 jobs during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 661,000 over the month of September, following an increase of 1.5 million jobs in August. Month-over-month (MoM), total… Read More ›
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Robust Gains for August Single-Family Permits
Over the first eight months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 616,856. On a year-over-year (YoY) basis, this is an 6.9% increase over the August 2019 level of 576,798. Year-to-date ending in August, single-family permits across the four regions ranged from an increase of 9.8% in the South to a decline of 1.8% in the Northeast…. Read More ›
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Modular and Other Non-Site Built Housing In 2019
The total market share of non-site built single-family homes (modular and panelized) declined to 3% of single-family completions in 2019, according to Census Bureau Survey of Construction data and NAHB analysis. This share is expected to rise moderately in 2020 and in the years ahead, due to the ongoing labor shortage in the residential construction sector and the need to lift labor… Read More ›
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Sharp Decline in Real GDP in All States: 2Q20
Real gross domestic product (GDP) decreased in all 50 states and the District of Columbia, in the second quarter of 2020 compared to the previous quarter, as a result of reflecting “stay-at-home” orders across the country due to COVID-19. The U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from… Read More ›
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Share of Non-Conventional Financing Increased in 2019
NAHB analysis of the 2019 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 35.0% of the market, while conventional financing dominated the market at 65.0%. In 2018, share of non-conventional financing was 28.6% of the market while conventional financing accounted for 71.4% of the market share. Non-conventional… Read More ›
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New Home Sales at Highest Pace Since September 2006
New single-family home sales surged in August, as housing demand was supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs and exurbs. Census and HUD estimated new home sales in August at a 1.01 million seasonally adjusted annual pace, an approximate 4.8% gain over revised July rate… Read More ›
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New York Led with Employment Gains in August
Nonfarm payroll employment increased in 49 states in August compared to the previous month. The largest increase came from New York, which added 153,300 jobs during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 1.4 million over the month of August, following an increase of 1.7 million jobs in July. Month-over-month (MoM),… Read More ›