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  • Home Sales and Prices

New Home Sales Plummet in July

Danushka Nanayakkara-SkillingtonAugust 23, 2022August 23, 202212 mins

New home sales in July fell to their lowest level since January 2016 as the industry grapples with supply chain disruptions that are delaying new home building projects and raising housing costs as mortgage interest rates increased. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built,…

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  • Employment/Labor

Employment Situation in July: State-Level Analysis

Danushka Nanayakkara-SkillingtonAugust 22, 2022August 19, 202203 mins

Nonfarm payroll employment increased in 46 states and the District of Columbia in July compared to the previous month while four states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 528,000 in July, following a gain of 398,000 jobs in June.  As of July 2022, the U.S….

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  • Construction Statistics

Jump for Multifamily Rental Development

Robert DietzAugust 22, 2022August 16, 202201 mins

According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts surged during the second quarter of 2022. At 142,000 units started, this was the largest quarter for rental multifamily construction since the second quarter of 1986. The market share of rental units of multifamily construction starts bounced back to 96%….

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  • Single-Family

New Home Size Trends Reversing?

Robert DietzAugust 19, 2022August 16, 202212 mins

An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. During the housing boom of recent quarters, this led to a rise for new single-family home size. However, as the housing market weakens this trend appears to be reversing. According to second…

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  • Home Sales and Prices

Existing Home Sales Fall to Two-Year Low

Fan-Yu KuoAugust 18, 2022May 30, 202404 mins

As elevated mortgage rates and higher home prices weighed on housing affordability, existing home sales declined for six consecutive months, according to the National Association of Realtors (NAR). All four regions saw double-digit decline in sales from a year ago. But home price appreciation has slowed as inventory increased. The median existing home prices in…

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  • Multifamily

Multifamily Sector Shows Signs of Caution in the Second Quarter

Eric LynchAugust 18, 2022May 7, 202404 mins

Confidence in the market for new multifamily housing was mixed in the second quarter of 2022, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB).  The MMS produces two separate indices. The Multifamily Production Index (MPI) decreased 6 points to 42 compared to the previous…

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  • Construction Statistics

Flat Conditions for Custom Home Building

Robert DietzAugust 18, 2022August 18, 202202 mins

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building registered relatively flat conditions for the second quarter of 2022. There were 53,000 total custom building starts during the second quarter of the year. This marks a 2% decline compared to the second quarter of 2021 in…

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