New single-family home sales posted a small decline in January as housing demand was affected by a jump in mortgage rates. The January pace of sales was nonetheless solid due to a lack of resale inventory and ongoing need for new construction. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau…
According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts increased to 94.2% during the fourth quarter of 2021. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An average share of 80% was registered…
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Recent data confirms this impact on the market continues to occur. According to fourth quarter 2021 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median…
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded by 10.8% in 2021 amid strong demand for move-up purchases given a rise in existing home equity. There were 49,000 total custom building starts during the final quarter of 2021. This marks a 11.4% gain from…
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction jumped 28.1% in 2021. As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction lagged for much of 2020. However, demand for medium density neighborhoods returned as the…
The number of single-family built-for-rent (SFBFR) construction starts increased almost 16% in 2021, after a record-breaking third quarter for production. The SFBFR market is a way to add inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period when a growing number of people want more space and…
Single-family starts dipped somewhat in January, as ongoing supply-chain issues are adding cost and construction time to home building. The availability of labor and lots also remain key headwinds, with labor likely to become more challenging in 2022. Overall housing starts decreased 4.1% to a seasonally adjusted annual rate of 1.64 million units, according to…
