Na Zhao

The Aging Housing Stock

The median age of owner-occupied homes is 39 years, according to the latest data from the 2019 American Community Survey. Compared to a median age of 31 years in 2005, the U.S. owner-occupied housing stock is aging gradually. The residential construction continues to fall behind in the number of new homes built especially after the…

Read more

April Gains for Private Residential Spending

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.9% in April after an increase of 0.7% in March 2022. Spending stood at a seasonally adjusted annual rate of $891.5 billion. Total private residential construction spending was 18.4% higher than a year ago. These monthly gains are attributed to…

Read more

March Gains in Personal Income

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.5% in March after a 0.7% gain in February. Gains in personal income are largely driven by increases in compensation of employees. However, it was 11.6% lower than a year ago when US government implemented stimulus packages to…

Read more

Homeownership Rate Stable at 65.4%

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.4% in the first quarter of 2022, which is statistically unchanged from the last quarter reading. The national homeowner vacancy rate slipped to a record low of 0.8%, while the rental vacancy rate increased to 5.8%. The covid-induced data collection restrictions have…

Read more