Eye On Housing
Author Archives
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Share of New Homes with Fireplaces Drops to Record Low
Only 41 percent of single-family homes started in 2018 included fireplaces, according to NAHB tabulation of recently released data from the Survey of Construction (produced by the U.S. Census Bureau with partial funding from HUD). This percentage is the lowest on record since NAHB began tabulating the data in a consistent fashion in 2001. Since 2015, the share of single-family… Read More ›
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New Home Price Data Underscore Affordability Problems
New data released by the U.S. Census Bureau and the Department of Housing and Urban Development, combined with recent NAHB survey data, show a mismatch between the actual prices of new homes and the prices buyers expect to pay—providing further evidence for the growing problem of housing affordability. At the end of August, the Census Bureau released 2018 data from… Read More ›
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While Other Rates Decline, Rates on AD&C Loans Trend Up
In the second quarter of 2019, interest rates on loans for land acquisition, development, and single-family construction (AD&C) continued to drift upward, according to results from NAHB’s quarterly AD&C Financing Survey. As the survey showed, relationships among the various subcategories of AD&C loans remained about the same, with the highest average interest rate—6.59 percent—recorded on loans for land acquisition loans,… Read More ›
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Homebuyer Preferences: Millennials vs. Other Generations
A recent study by NAHB reveals that millennials have a much stronger desire for certain bathroom features relative to older generations. The report compiled survey data between 2007 and 2018 and found that the share of home buyers who want whirlpool tubs declines as the older generations age but stays relatively constant for millennials. As of 2018, 70% of millennials… Read More ›
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Top 10 Features Millennials Want—and Don’t Want
At least four out of five millennial buyers prefer laundry rooms, hardwood front exteriors, patios and garage storage. Conversely, they give a thumbs down to elevators, wine cellars and laminate countertops. These were among the findings from a new study by the NAHB Economics team that focused on millennial home buying preferences. The 2018 survey asked recent and prospective buyers… Read More ›
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Labor Shortages Still Hurting Affordability
Labor and subcontractor shortages remained widespread in July of 2019 and are continuing to impact the industry in a number of ways—including putting additional upward pressure on new home prices— according to results from special questions on the survey for the NAHB/Well Fargo Housing Market Index (HMI). In July, the HMI survey asked builders specifically about shortages in 16 different occupations. … Read More ›
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The Effect of Affordable Housing on the Surrounding Neighborhood
Although produced by NAHB’s Economists, Eye on Housing is intended for a fairly broad readership with an interest in housing, but not necessarily in the academic research published by technical journals. Nevertheless, many EoH readers will want to know about a relatively recent technical paper published in Housing Policy Debate. The paper is called The What, Where, and When of… Read More ›
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Builders’ Use of Drones Remains Widespread, Mostly for Promotional Photos
Well over 40 percent of builders continue to use aerial drones, according to special questions on the March 2019 survey for the NAHB/Wells Fargo Housing Market Index (HMI). The first of these questions asks the single-family builders in the HMI panel if they have ever used drones in their businesses, including any cases where they may have hired third parties… Read More ›
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Have You Seen These Posts for National Home Remodeling Month?
May is National Home Remodeling Month. As has become a tradition, Eye on Housing recognized the occasion with a series of posts related to the topic. As the month draws to a close, we provide a summary of those posts for readers who may have missed them: For Remodelers, Shortages of Skilled Labor Remain Elevated: May 1, 2019. Remodeling to… Read More ›
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Rates on Construction Loans Back Off Slightly in the First Quarter
After rising throughout most of 2018, with one minor exception, interest rates on loans for residential acquisition, development, and construction (AD&C) backed off slightly in the first quarter of 2019, according to results from NAHB’s latest AD&C survey. The NAHB survey showed average first quarter interest rates of 6.56 percent on land acquisition loans, 6.25 percent on loans for land… Read More ›