Tag Archive for ‘home building’

Gain for Custom Home Building

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building posted the second best quarter since the Great Recession during the Spring of 2021. There were 54,000 total custom building starts during the second quarter of the year. This marks a 15% gain from the second quarter of 2020, a comparison affected… Read More ›

Best Quarter for Townhouse Construction in 14 Years

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction in the second quarter of 2021 posted the highest count of starts in 14 years.  As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction lagged for much of 2020. However, demand for… Read More ›

Expansion for Single-Family Built-for-Rent Construction

The number of single-family built-for-rent (SFBFR) construction starts is expanding as demand for single-family structures, both for-sale and for-rent, remains strong. The SFBFR market is a way to add inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period when people want more space and a single-family structure. Single-family built-for-rent construction differs with respect… Read More ›

Housing Starts Down in July on Supply Chain Challenges

Housing production declined in July due to rising prices and limited availability of lumber and other building materials. Overall housing starts decreased 7.0% to a seasonally adjusted annual rate of 1.53 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The July reading of 1.53 million starts is the number… Read More ›

June Single-Family Permit Gains

Over the six months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 589,146. On a year-over-year (YoY) basis, this is a 35.9% increase over the June 2020 level of 433,484. Year-to-date ending in June, single-family permits increased in all four regions. The Northeast region reported the strongest increase of 39.6%, followed by the Midwest (+35.9%),… Read More ›

Lot Values Surge at Record Breaking Pace

Lot values for single-family detached homes started in 2020 surged 18%, according to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data. As a result, the median lot price reached a new record high of $53,000. Though an 18% jump in lot values is unprecedented, it is consistent with other significant building material price hikes and undeniable supply… Read More ›

Rising Job Openings

In the June labor market data, job openings for the overall economy increased to 10.1 million open positions. What had been a challenge in certain sectors, like construction, is now a broad labor access issue as businesses seek workers as the economy reopens. The count of open construction jobs increased in June to 339,000 unfilled positions, according to data from… Read More ›

Age-Restricted New Homes: Same Size, Slightly Pricier

Of the roughly 990,000 single-family and 389,000 multifamily homes started in 2020, 46,000 (28,000 single-family and 18,000 multifamily) were built in age-restricted communities, 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 residential community can be legally age-restricted, provided it conforms the one of the… Read More ›

Highest Paid Occupations in Construction in 2020

According to the 2020 Bureau of Labor Statistics Occupational Employment Statistics (OES) Survey data and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $50,460 and the top 25% make at least $71,000. In comparison, the U.S. median wage is $49,150, while the top quartile (top 25%) makes at least $67,410…. Read More ›