NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1% in March after an increase of 0.7% in February. Spending stood at a seasonally adjusted annual rate of $882 billion. Total private residential construction spending was 18.4% higher than a year ago. These monthly gains are attributed to the…
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…
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…
Private fixed investment in dormitories stood at a seasonally adjusted annual rates (SAAR) of $3.08 billion in the last quarter of 2021, according to the data released by Bureau of Economic Analysis. Student housing investment was 2.9% higher over the third quarter of 2021. However, private fixed investment in dorms was 20% below the last…
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.1% in February after an increase of 1.1% in January. Spending stood at a seasonally adjusted annual rate of $850.6 billion. Total private residential construction spending was 16.6% higher than a year ago. These monthly gains are attributed to the…
As described in a previous post, NAHB’s recently released its 2022 Priced-Out Estimates, showing that 87.5 million households are not able to afford a median priced new home, and that an additional 117,932 would be priced out if the price goes up by $1,000. A second post showed the households priced out by higher interest…
New NAHB 2022 Priced-Out Estimates showed that 87.5 million households are not able to afford a median priced new home, and that additional 117,932 households would be priced out of the new home market if the price goes up by $1,000. This post presents how interest rates affect the number of households that would be…
