Eye On Housing
In May of last year, Eye on Housing reported on historically widespread shortages of building materials. Since then, most of the shortages have eased; the major exceptions being shortages of HVAC equipment and certain categories of ceramic materials (ceramic tiles, clay bricks and cement-based building materials), which have gotten slightly worse. NAHB has been tracking shortages of building materials and… Read More ›
NAHB analysis of Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics shows that during the first year after closing on a home sale, home buyers tend to spend considerably more money on furnishings, appliances and remodeling compared to non-moving owners. Buyers of new homes spend most, spending four times as much as non-moving owners and twice as… Read More ›
Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics estimates that a home purchase triggers significant spending on appliances, furnishings, and remodeling. NAHB’s most recent estimates are based on the pre-pandemic 2017-2019 data and show that during the first year after closing on the house, a typical buyer of a newly-built single-family detached… Read More ›
Shortages of materials are now more widespread than at any at any time since NAHB began tracking the issue on a regular basis in the 1990s in is survey for the NAHB/Wells Fargo Housing Market Index (HMI). In response to special questions on the May 2021 HMI survey, over 90 percent of builders who buy the product in question reported… Read More ›
In the survey results described in one of last week’s posts, prices of building material ranked as the number one problem among NAHB’s single-family builders, and availability of building materials ranked second. These concerns are not surprising, given the surge in building material prices reported in the latest Producer Price Index data from the Bureau of Labor Statistics. Traditionally, when… Read More ›
A recent survey conducted by the National Association of Home Builders highlights the preferred kitchen colors and features among recent and prospective Millennial home buyers (defined as those born after 1980). A considerable share of Millennials – 31 percent – prefer white kitchen cabinets. However, as far as other cabinet color options, Millennials are essentially split: 18 percent prefer dark… Read More ›
Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics research shows that a home purchase triggers additional spending on appliances, furnishings, and remodeling. NAHB’s most recent estimates are based on the 2012-2014 data and show that during the first two years after closing on the house, a typical buyer of a newly-built single-family… Read More ›
In a post last week we discussed NAHB research showing how during the first two years after closing on a home sale, home buyers tend to spend money on furnishings, appliances and remodeling considerably more compared to non-moving owners. Buyers of new homes spend most, outspending non-movers by a factor of 2.8. Buyers of existing homes spend twice as much… Read More ›