Eye On Housing
Author Archives
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Top Posts of 2021: Age of the Housing Stock
With the end of 2021 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In March, Na Zhao analyzed the age of the housing stock. According to the latest data from the 2019 American Community Survey (ACS), the median age of owner-occupied homes was 39 years. The age of the… Read More ›
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Top Posts of 2021: Construction Times in 2020
With the end of 2021 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In June, Na Zhao analyzed data on construction times in 2020. Survey data indicated that in 2021 the construction cycles expanded, although that data will be available in 2022. The 2020 Survey of Construction (SOC) from the Census Bureau… Read More ›
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Top Posts of 2021: Most Popular Kitchen Design Features
With the end of 2021 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In June, Paul Emrath analyzed data on kitchen design features. In the recent NAHB study, What Home Buyers Really Want, 2021 Edition, side-by-side double sinks and walk-in pantries ranked as the most popular of 30 listed kitchen… Read More ›
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Housing Starts Show Strength in November
Single-family housing showed strength in November despite supply-chain limitations for materials and ongoing access issues for labor and lots. Overall housing starts increased 11.8% to a seasonally adjusted annual rate of 1.68 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The November reading of 1.68 million starts is… Read More ›
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Federal Reserve Outlook: Housing Considerations
At the conclusion of its December policy meeting, the Federal Reserve announced changes to its outlook and projections that move monetary policy further away from the accommodative stance that has supported the economic rebound from the 2020 recession. This pivot toward tighter policy is a direct result of ongoing, elevated inflation data. Today’s announcement makes several changes to both the… Read More ›
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Builder Sentiment Strong at Year’s End
Despite inflation concerns and ongoing production bottlenecks, builder confidence edged higher for the fourth consecutive month on strong consumer demand and limited existing inventory. Builder sentiment in the market for newly built single-family homes moved one point higher to 84 in December, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This ties the highest… Read More ›
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Construction Job Openings Surge
The labor market continues to tighten, especially for the construction industry. The count of open construction jobs increased to 410,000 unfilled positions in October, the highest measure in the history of the data series (going back to late 2000). The housing market remains underbuilt and requires additional labor, lots and lumber and building materials to add inventory. Hiring in the… Read More ›
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Construction Loan Growth During Third Quarter
Residential construction loan volume reached a post-Great Recession high during the third quarter, as home building activity continued to expand in 2021. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased by 6% during the third quarter. The volume of loans increased by $4.9 billion for the quarter. This loan volume expansion placed the total stock… Read More ›
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New Home Sales Flat in October After September Data Revision
Contracts for new, single-family home sales were flat at a 745,000 seasonally adjusted annual rate in October according to estimates from the joint release of the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. However, the flat reading was due to a significant downward revision for the September pace (revised from an 800,00 rate to… Read More ›
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Multifamily Condo Production Showing Gains?
According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts declined to 93.4% during the third quarter of 2021. This is the lowest share since the first quarter of 2020. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An… Read More ›