Eye On Housing
Recent Posts - page 2
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Geography of Homeownership and Home Building
A majority of single-family home building occurs in counties that are in the lowest quintile of homeownership rates, according to NAHB analysis of 2021 5-year American Community Survey (ACS) county-level data and single-family permit numbers. This somewhat counterintuitive result is actually a reflection of the concentration of households in a small number of counties. For this analysis, counties were grouped… Read More ›
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More Women Working in Construction in 2022
The number of women employed in the construction industry increased to over 1.28 million in 2022, as the construction industry recovered all jobs lost during the pandemic. Currently, women make up 10.9% of the construction workforce, up from 9.3% in 2002. As the construction skilled labor shortage remains a key challenge for housing, adding new workers is an important goal… Read More ›
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Who Are NAHB’s Associate Members?
Every year since 2008, the NAHB has conducted a member census in order to better understand the composition and characteristics of the people who belong to its organization. Similar to a previous post about builder members, NAHB conducted a related analysis of its associate members. In 2022, 65% of NAHB’s members were associate members—those involved in a wide range of… Read More ›
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Decline for AD&C Loan Volume in the Second Quarter
The volume of total outstanding acquisition, development and construction (AD&C) loans posted a decline during the second quarter of 2023 as interest rates continue to rise and financial conditions tighten. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions declined by 2.8% during the second quarter. The volume of loans declined by $2.9 billion for the quarter…. Read More ›
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Share of Smaller Lots Hits New Record High
According to the latest Survey of Construction (SOC), 42 percent of new single-family detached homes sold in 2022 were built on lots under 7,000 square feet, that is 0.16 of an acre. This is the highest share on record and reflects stark changes in the lot size distribution since the Census Bureau started tracking these series over 20 years ago… Read More ›
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Stucco and Vinyl were the Most Common Siding Materials on New Homes in 2022
According to the annual data from the Census Bureau’s Survey of Construction (SOC), stucco was the most common principal siding material on new single-family homes started in 2022 (28%), followed by vinyl siding (26%), fiber cement siding (such as Hardiplank or Hardiboard (21%) and, brick or brick veneer (18%). Far smaller shares of single-family homes started last year had wood or wood… Read More ›
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Slight Gain for Student Housing Investment
According to the data released by Bureau of Economic Analysis (BEA), private fixed investment in student dormitories inched up 1% to a seasonally adjusted annual rate (SAAR) of $3.6 billion in the second quarter of 2022, after a 6.4% increase in the first quarter. Private fixed investment in dorms was 8.7% higher than a year ago, but still below the… Read More ›
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Share of Non-Conventional Financing Holds Steady in 2022
NAHB analysis of the 2022 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 28.1% of the market, roughly the same as in 2021, at 28.8%. As in previous years, conventional financing dominated the market at 71.9% of sales. In 2020, the share of non-conventional financing was 34.4%… Read More ›
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Large Metro Markets Show Biggest Slowdown in Single-Family Construction
Rising mortgage rates and elevated construction costs have taken a toll on the pace of single-family construction in markets across the nation, with the slowdown most pronounced in large metro areas. Multifamily market growth also fell in most areas of the country, according to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI)… Read More ›
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July Gains in Private Residential Construction Spending
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 1.4% in July after an increase of 1.5% in June and 3.5% in May. Spending stood at a seasonally adjusted annual pace of $879 billion. However, total private residential construction spending is still 5.5% lower compared to a year ago. The total construction monthly increase is… Read More ›