A new NAHB Economics research article shows that the effective real estate tax rates vary substantially across and within counties, with the highest rate area displaying rates that are often multiple times higher than the lowest rate areas within the same county. An “effective property...
NAHB’s recently published Housing Preferences of the Boomer Generation shows that homebuyers in the Baby Boom Generation want a suburban neighborhood consisting of all single-family detached homes more often than any other community feature (of the 19 listed), and nearly 80 percent prefer a cul...
Much like it counts people every 10 years, the US government counts American businesses every 5 years. This is done through the Economic Census, which is conducted by the Census Bureau in years ending in 2 and 7. Results for the residential construction industry for...
A previous post discussed how the current shortage of subcontractors in residential construction is becoming more acute. This is significant, because subcontractors are very important to the construction of the typical home. Periodically, NAHB has found it worthwhile to remind the public just how important....
As a share of total taxes collected, real estate property taxes in the United States are responsible for a relatively high share of total government revenues. According to statistics produced by the Organisation for Economic Cooperation and Development (OECD), the average share of total government...
In the United States, the majority of households own their home. NAHB analysis of international data indicates that the same is true across the European Union (EU). The vast majority of European households own their home as well. However, the incidence of homeownership across the...
Home building, remodeling and the overall residential construction industry support many types of jobs. BLS data from the 2014 Occupational Employment Statistics (OES) Survey, and NAHB analysis, provide a count of these occupation classes. The OES survey defines employment as the number of workers who...
A recent Eye on Housing post reported on NAHB’s 800th customized local impact study. In addition to studies customized to a particular area, NAHB has traditionally produced a “typical local” report using national average inputs. This report—showing the jobs, income and taxes generated by residential...
New NAHB research shows that millennials tend to buy homes that are smaller, older, and less expensive than homes bought by older generations. Being the youngest home buyers with little or no accumulated wealth also affects how millennials shop and buy their homes. The majority...
A new study of California affordable housing developments provides important findings concerning the role and benefits of the Low-Income Housing Tax Credit (LIHTC). The affordable housing credit ensures a supply of equity financing for the development of needed rental housing. The report was prepared for...
A record number of millennials, individuals aged 18 to 34 years, are delaying household formation. This Great Delay, instead of the forbearance of impending doom, may actually be a sign of prudent economic decision making from a generation coming of age during turbulent economic times....
Data collected during a 2014 survey allow NAHB to produce, for the first time, summary statistics that describe the typical residential subdivision being built in the United States. The results were recently published as a Special Study in HousingEconomics.com. For subdivisions of single-family detached homes,...
In addition to ensuring the supply of affordable rental housing, the Low-Income Housing Tax Credit (LIHTC) supports jobs and provides benefits to the economy. Using the NAHB economic impact model of home building, revised industry estimates reveal that the LIHTC program supports almost 96,000 jobs...
April is new homes month. And one of the virtues of a newly constructed home is the savings that come from reduced energy and maintenance expenses. In a previous analysis, we used data from the 2009 American Housing Survey (AHS) to offer proof. The AHS...
The top ten publicly-traded builder share of new home closings ticked up as a share of total US new home sales to 25.3% in 2013 from 23.9% in 2012. The 25.3% share in 2013 is out of the 430,000 new home sales reported by the...
Subcontractors are an often over looked but essential part of the home building industry. Many outside the industry do not understand how large a part subcontractors have in the construction of a home. Home builders, as well as remodelers, typically subcontract a large portion of...
New NAHB Economics research shows that the share of young adults ages 18 to 34 living with parents or parents-in-law increased sharply in the late 2000s. According to the most recent American Community Survey (ACS), one in three young adults ages 18 to 34, or...
A national survey of 271 jurisdictions conducted by Duncan Associates in 2012 reveals wide cross-country differences in impact fees that individual jurisdictions charge. The map below presents state averages for standardized single-family units (three-bedroom, 2,000 square-foot units, at density of 4 units per acre and...
