Tag Archive for ‘economics’

Townhouse Construction Lower in 2019

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, after a strong 2018, townhouse construction experienced weakness over the course of 2019.  This recent market softness matches data in the NAHB HBGI, which revealed reduced construction activity for large metro suburban markets in 2019. These kind of higher density neighborhoods are often… Read More ›

Housing Starts Mark a Solid Start in 2020

Total housing starts posted a 3.6 percent decline in January (1.57 million units) compared to an upwardly revised December estimate of 1.63 million units according to the joint data release from the Census Bureau and HUD. Relative to January 2019 (during the housing soft patch), total starts are 21.4 percent above the annual pace of 1.29 million units. Single-family starts… Read More ›

Builder Confidence Remains Solid in February

Builder confidence in the market for newly-built single-family homes edged one point lower to 74 in February, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The last three monthly readings mark the highest sentiment levels since December 2017. Steady job growth, rising wages and low interest rates are fueling housing demand in a market… Read More ›

Texas Leads Job Gains in December

Year-over-year (YoY), total nonfarm employment increased by 2.1 million jobs on a seasonally adjusted basis (SA), or 1.4% from December 2018 to December 2019. During this time, total nonfarm employment in the Western region increased by 2.0%. The South, Northeast, and Midwest recorded gains at 1.8%, 0.9% and 0.5% respectively, during this time. According to the Bureau of Labor Statistics,… Read More ›

US Economic Growth Slows to 2.3% in 2019

According to the “advance” estimate  released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) expanded at an annual rate of 2.1% in the fourth quarter of 2019, the same increase as in the third quarter. This marks the 23rd consecutive quarter of growth. For the full year, real GDP increased 2.3% in 2019, down from a… Read More ›

New Home Sales End 2019 with 10% Gain

New home sales were effectively flat in December, after downward revisions for prior months. However, the sales pace for newly-built single-family homes ended 2019 with a gain of 10%, increasing to a total of 681,000. This marks 2019 as the best year for new home sales since the Great Recession. Contracts for new, single-family home sales declined slightly in December… Read More ›

Age-Restricted Homes Slightly Smaller, Pricier than Others Started in 2018

Of the roughly 875,000 single-family and 375,0000 multifamily homes started in 2018, 29,000 and 31,000, respectively, were age-restricted according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).  A housing development can legally restrict the ages of its residents, provided it conforms to one of the set… Read More ›