Year-over-year gains for townhouse construction continued during the third quarter of 2024 as demand for medium-density housing continues to be solid despite slowing for other sectors of the building industry.
Housing starts edged lower last month as average monthly mortgage rates increased a quarter-point from 6.18% to 6.43% between September and October, according to Freddie Mac. Overall housing starts decreased
Builder sentiment improved for the third straight month, and builders expect market conditions will continue to improve with Republicans winning control of the White House and Congress. Builder confidence in
Over the first nine months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 763,990. On a year-over-year (YoY) basis, this is an increase of 10.1%
Confidence in the market for new multifamily housing showed mixed results year-over-year in the third quarter of 2024, according to results from the Multifamily Market Survey (MMS) released today by
Private fixed investment in student dormitories increased by 2.2% to a seasonally adjusted annual rate (SAAR) of $3.9 billion in the third quarter of 2024. This rise follows a 7%
Private residential construction spending inched up 0.2% in September, according to the Census Construction Spending data. The September report shows a 4.1% rise compared to a year ago. The
Approximately 27% of the national housing stock consists of multifamily homes—defined as residential buildings with multiple separate housing units within one structure. According to the 2023 American Community Survey 1-year
With elevated interest rates and rising home prices, 103.5 million households in the United States cannot afford a $495,750 median-priced new home. The growing affordability crisis makes housing a top
With the Federal Reserve beginning an easing of monetary policy and builder sentiment improving, single-family starts posted a modest gain in September while multifamily construction continued to weaken because of
With inflation gradually easing and builders anticipating mortgage rates will moderate in coming months, builder sentiment moved higher for a second consecutive month despite challenging affordability conditions. Builder confidence in
Over the first eight months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 685,923. On a year-over-year (YoY) basis, this is an increase of 11.5%
Residential improvement spending softened in 2023 due to elevated interest rates, high inflation, and sluggish home sales. According to the Bureau of Economic Analysis’ National Income and Product Accounts (NIPA),
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter of 2024 posted a reading of 63, down two points compared to the previous quarter. Remodelers remain optimistic about
While the share of new homes with patios continues to climb, the share with decks has hovered at a historic low of under 18%, according to NAHB tabulation of data
New manufactured homes saw a decline in shipments in 2023 compared to the previous year. According to the Manufactured Housing Survey (MHS), 89,169 manufactured homes were shipped in 2023, a
NAHB published research earlier this year on home buyer preferences called What Home Buyers Really Want. Consumers were asked to rate how 19 technology features would influence their home purchase
Private residential construction spending fell 0.3% in August, according to the Census Construction Spending data. Nevertheless, it remained 2.7% higher compared to a year ago. The monthly decline in total