Eye On Housing
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 tax rate” is the amount of property tax paid divided by the value of the home… Read More ›
In a recent study, NAHB used newly released American Community Survey data from the U.S. Census Bureau to show that, in the U.S. as a whole, there are a little over 48 million households headed by someone age 55 or older, accounting for roughly 42 percent of all U.S. households. Although the percentage is different in different states, the variation… Read More ›
A scarcity of workers has been a notable headwind for home building and other parts of the construction industry in recent years. And a look at Census data reveals that the median age of workers in the construction industry exceeds the median age of the overall labor force. As home building has recovered, there has been a significant labor market… Read More ›
The American housing stock continues to age, especially as residential construction continues its modest rebound after the Great Recession. According to the latest 2013 American Housing Survey (AHS), published by the Department of Housing and Urban Development, the median age of owner-occupied homes is 37 years old, compared to only 27 years old in 1993. This aging trend signals a… Read More ›
A new NAHB study presents the most comprehensive estimates of home building employment, including self-employed workers, by state and congressional district. NAHB Economics estimates that out of 8.9 million people working in construction in 2013, close to 3.5 million people worked in residential construction, accounting for 2.4 percent of the US employed civilian labor force. These numbers reflect modest job… Read More ›
New NAHB research estimates the immigrant labor flow into the construction industry over the housing boom and bust years. The results show that more than 135,000 immigrant workers entered the US construction industry at the height of the housing boom in 2005. By 2011, the construction immigrant flow plummeted to a low of 23,000, highlighting the role of new immigrant… Read More ›
In a series of posts, NAHB examined key housing statistics from the 2012 American Community Survey (ACS) for metro areas in the United States. One statistic that drew interest was the share of homeowners living in single-family detached housing. This post expands that analysis by looking at the share of total housing units (owned and rented) from 2005 to 2012…. Read More ›
In a recent study, NAHB examines eight key housing statistics from the 2012 American Community Survey (ACS). This post takes a closer look at one of those statistics; the share of new owner-occupied units. The share of new owner-occupied units is calculated by taking the total number of owner-occupied housing units built since 2000 divided by the total number of… Read More ›
In a recent study, NAHB examines eight key housing statistics from the 2012 American Community Survey (ACS). One statistic is the homeownership rate for all metropolitan (metro) areas in the United States. A metro area is an aggregation of counties that share a local labor and housing market based on commuting patterns. This post lists the ten metro areas with… Read More ›
In a recent study, NAHB examines eight key housing statistics from the 2012 American Community Survey (ACS). The study allows readers to compare the statistics for all metropolitan (metro) areas in the United States. A metro area is an aggregation of counties that share a local labor and housing market based on commuting patterns. This post lists the ten metro… Read More ›