Author Archives

  • March Gains in Private Residential Construction Spending

    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 strong growth of spending on… 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 cope with COVID-19 crisis.  Real… 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 ended in all areas as… Read More ›

  • Student Housing Investment Recovering from the Pandemic

    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 quarter of 2020 and 32%… Read More ›

  • Residential Construction Spending Trends Upward in February

    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 strong growth of spending on… Read More ›

  • Pyramid Shows 36 Million Households Cannot Afford a $150,000 Home

    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 rates. This post focuses on… Read More ›

  • Households Priced Out by Higher Interest Rates

    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 priced out of the new… Read More ›

  • January Private Residential Spending Up 1.3%

    NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.3% in January after an increase of 2.2% in December 2021. Spending stood at a seasonally adjusted annual rate of $829.4 billion. Total private residential construction spending was 13.4% higher than a year ago. These monthly gains are attributed to the strong growth of spending… Read More ›

  • NAHB 2022 “Priced Out” Estimates

    NAHB recently released its 2022 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that 87.5 million households (roughly 69 percent of all U.S. households) are not able to afford a new median priced new home in 2022, meaning their incomes are insufficient to qualify for a mortgage under standard underwriting criteria. … Read More ›

  • Homeownership Rate at 65.5% for Final Quarter 2021

    The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.5% in the last quarter of 2021. In contrast to some data reporting in 2020 and earlier 2021, the last quarter of 2021 data collection was not affected by the pandemic, as in-person interview returned in all areas. The national homeowner vacancy rate stayed at a record… Read More ›