Eye On Housing
Author Archives
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Credit for Builders Tightens as Rates Climb
During the fourth quarter of 2022, credit continued to become less available and generally more costly on loans for Acquisition, Development & Construction (AD&C) according to NAHB’s Survey on AD&C Financing. To analyze credit availability, responses from the NAHB survey are used to construct a net easing index, similar to the net easing index based on the Federal Reserve’s survey… Read More ›
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Material Shortages Ease, With Notable Exceptions
In May of last year, Eye on Housing reported on historically widespread shortages of building materials. Since then, most of the shortages have eased; the major exceptions being shortages of HVAC equipment and certain categories of ceramic materials (ceramic tiles, clay bricks and cement-based building materials), which have gotten slightly worse. NAHB has been tracking shortages of building materials and… Read More ›
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Nine Percent of New Homes Are Teardowns
In 2021, 9.1 percent of new single-family homes were built in an older neighborhood on a site where a previous structure had to be torn down and rebuilt, according to the latest Builder Practices Survey (BPS) conducted by Home Innovation Research Labs. Another 18.5 percent were built on an infill lot in an older neighborhood. The BPS places new homes… Read More ›
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Builders Are Cutting Prices & Offering Incentives, But It’s Not 2008
In November of 2022, 36 percent of single-family home builders reported reducing their prices, and 59 percent were offering special sales incentives. These percentages may seem relatively high—and in fact they have increased significantly since July of this year—but they are nowhere near as high as they were during the 2007-2008 financial crisis. Questions on sales incentives have been a… Read More ›
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Credit Conditions for Builders and Developers Continue to Worsen
During the third quarter of 2022, credit continued to become less available and generally more costly on loans for Acquisition, Development & Construction (AD&C) according to NAHB’s Survey on AD&C Financing. To analyze credit availability, responses from the NAHB survey are used to construct a net easing index, similar to the net easing index based on the Federal Reserve’s survey… Read More ›
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Patios Continue to Substitute for Decks on New Homes
As a previous post has shown, the share of new homes with patios increased for the sixth year in a row in 2021, to a post-2004 high of 63.0 percent At the same time, the share with decks was trending in the opposite direction, declining for the fifth year in a row to a post-2004 low. Of the roughly 1.1… Read More ›
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Share of New Homes with Porches Dips Below 64 Percent
Of the roughly 1.1 million single-family homes started in 2021, 63.4 percent came with porches, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial funding from the Department of Housing and Urban Development). This marks the first time the share of single-family homes with porches has dipped below 64 percent since 2015. … Read More ›
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NAHB Builders’ Businesses Showed Significant Growth in 2021
The business of the typical NAHB (National Association of Home Builders) builder grew significantly between 2020 and 2021, according to results from NAHB’s latest member census. The 2021 NAHB census shows that the median gross revenue of an NAHB builder in 2021 was $3.3 million, up 26.9 percent from the previous year. NAHB reinstated its member census during the industry-wide… Read More ›
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Share of New Homes with Patios Sets Record for Sixth Consecutive Year
The share of homes built with patios hit a record high in 2021. Of the roughly 1.1 million single-family homes started in 2021, 63 percent came with patios. This number comes from NAHB tabulation of data from the Survey of Construction (conducted by the U.S. Census Bureau with partial finding from the Department of Housing and Urban Development). Patios on… Read More ›
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Median Price of a New Age-Restricted Home Up to $472,000
Of the roughly 1,127,000 single-family and 474,000 multifamily homes started in 2020, 37,000 (15,000 single-family and 22,000 multifamily) were built in age-restricted communities, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD). A residential community can be legally age-restricted, provided it conforms the one of the… Read More ›