Author Archives

  • Private Residential Spending Rises in March

    NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $550.3 billion in March. It was up 2.3% in March, after decreasing 4.8% in February. On a year-over-year basis, total private construction spending rose 8.8%. The monthly gains are largely attributed to the growth of spending on… Read More ›

  • Personal Income Slides 2% in March

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income fell sharply in March to a seasonally adjusted annual rate (SAAR) of $18,693 billion. The 2% decline in personal income was largely due to losses in compensation, a result of massive layoffs during the second half of March when the ‘stay-at-home’ orders were issued… Read More ›

  • Homeownership Rate Up in the First Quarter 2020

    According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate reaches 65.3% in the first quarter 2020. This is 1.1 percentage points higher than the rate of 64.2% in the first quarter of 2019, but not statistically different from the previous quarter reading of 65.1%. Strong owner household formation with around 2.7 million homeowners added in the… Read More ›

  • Private Residential Construction Spending Rises for the Sixth Consecutive Month

    NAHB analysis of Census Construction Spending data shows that total private residential construction spending increased 1.4% to a seasonally adjusted annual rate (SAAR) of $540.7 billion in December 2019. With the support of decreasing mortgage interest rates, it was the sixth consecutive monthly increase after declines in the first half of 2019.  Nevertheless, the value of total private residential construction… Read More ›

  • Personal Income Up 0.2 Percent in December

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income rose slightly (by 0.2%) in December, to a seasonally adjusted annual rate (SAAR) of $18,922 billion. The gains in personal income were mostly from increases in wages and salaries and personal interest income, which were partially offset by a drop-off of $36.2 billion in… Read More ›

  • Homeownership Rate Reaches Six-Year High

    According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate increased to 65.1% in the fourth quarter of 2019.  This is 0.5 percentage points higher than the previous quarter reading of 64.8% and the highest the rate has been since the last quarter of 2013.  Even so, the homeownership rate remains well below the 25-year average rate… Read More ›

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  • NAHB 2020 “Priced Out” Estimates

    NAHB recently released its 2020 priced out estimates. The new estimates show that, if the median new home price goes up by $1,000, 158,857 households would be priced out of the housing market nationwide. In other words, based on their incomes, 158,857 households would be able to qualify for a mortgage to purchase the home before the price increase, but… Read More ›

  • Basements Continue to Fall Out of Favor

    NAHB analysis of the Survey of Construction (SOC) shows that 60.1% of all new single-family started in 2018 were built on slab foundations, followed by 24.3% with a full/partial basement, and 14.3% with a crawl space. The gap between slab and full/partial basement foundation adoption rates is growing: the share of new homes built on slabs steadily increased from 46.0%… Read More ›

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  • Private Residential Spending Rises in September

    NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $511.4 billion in September, the highest level since December 2018. It inched up 0.6% in September, after increasing 0.8% in August and 1% in July. Private residential construction spending rebounded in the third quarter after decreasing for… Read More ›

  • Personal Income Edges up in September

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income rose slightly by 0.3% on a month-over-month basis in September after a 0.5% increase in August. The 0.3% gains in personal income, which is at a seasonally adjusted annual rate (SAAR) of $50.2 billion, were largely limited to personal interest income, farm proprietors’ income,… Read More ›