Tag Archive for ‘home building’

February Housing Starts Pause

Single-family housing starts declined almost 10 percent in February from an elevated January due to abnormally warm weather country wide. February also has above average temperatures but not as off-normal as January. In addition, buyers are meeting the harsh realities of tight credit standards and poor appraisals that don’t account for the condition of the distressed sales used as comparables…. Read More ›

Starts, Permits Indicate Relative Health of the Multifamily Sector

In February, the (seasonally adjusted) annual rate of starts  in buildings with five or more apartments was 233,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is a 29 percent increase from the January starts rate  (which was revised upward slightly) and more than double the starts rate for February 2011.   Although a rate of… Read More ›

Absorption Rates Rise for Multifamily Units During the Last Quarter of 2011

Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau and the Department of Housing and Urban Development, suggest continued improvement for the multifamily sector. The SOMA tracks completions and market absorption (units rented or sold after construction of the property is complete) for multifamily rental and for-sale housing in 5+ unit properties. Data released in… Read More ›

Improving Markets Index at 99

The March NAHB/First American Improving Markets Index stands at 99 markets or over one-quarter of all metropolitan areas.  The index measures improvement in three aspects: employment, single-family building permits and home prices.  To make the list, a metropolitan area must see improvement in all three indicators for six or more months. At 99, the March index added 31 metropolitan areas… Read More ›

MVI Shows Ongoing Stability in the Market for Existing Rental Apartments

In the fourth quarter of 2011, NAHB’s Multifamily Vacancy  Index (MVI) declined for a second consecutive quarter—from 35.1 to 34.7   The MVI is based on a quarterly survey of NAHB’s multifamily members, tracking their sentiment about the market for existing apartments on a scale from 0 to 100.  A declining MVI is a positive change, as it indicates that sentiment… Read More ›

Homeownership Rates Across All Metro Areas

For timely information on homeownership rates, the standard reference is the Census Bureau’s Housing Vacancy Survey (HVS), which releases information for the U.S. on a quarterly basis.  On an annual basis, the HVS also provides homeownership rates for the 75 largest metropolitan areas.  This information can be quite useful, but smaller areas may have particularly high homeownership rates or otherwise… Read More ›

MPI Points to Continued Improvement in Multifamily Construction

In the fourth quarter of 2011, NAHB’s Multifamily Production Index (MPI) continued to show improvement, increasing for a sixth consecutive quarter.  The MPI, which is based on a quarterly survey of multifamily builders and developers, tracks sentiment about construction of new apartments on a scale of 0 to 100.  The MPI increased from 47.3 in the third quarter to 48.9 in… Read More ›

Tightest Housing Markets in the U.S.

A simple measure of tightness in a market for owner-occupied housing is the homeowner vacancy rate (number of homes for sale divided by the number either for sale or owner-occupied). Builders are often interested in markets that are tight by this measure, because it indicates prospective buyers will have difficulty finding a suitable home among the available existing units.  Several federal government… Read More ›