Eye On Housing
NAHB Economics regularly receives requests to evaluate the effects of pending new regulations on housing affordability in local markets where regulatory actions are expected to raise home prices. The NAHB Priced Out Model provides straightforward answers on the issue. The model estimates how many households can qualify for a new home mortgage before and after a house price increase. The… Read More ›
Tag Archive for ‘home building’
2011 JOLTS Data – First Year Since 2006 for Construction Job Growth
The February release (December 2011 data) of the Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics (BLS) confirms a prediction we made earlier in the year. 2011 was the first year for the construction sector for which total hires exceeded total job separations since 2006. For the overall economy, total hiring for December 2011 was… Read More ›
Metro Area New Home Prices
The U.S. Census Bureau regularly tracks new home prices for the United States, Census Regions and Divisions. However, there is no systematic measurement of new home prices by states or metropolitan areas. To fill the void, NAHB Economics periodically estimates median new home prices for metropolitan areas. The most recent estimates show that median new home prices range from less… Read More ›
An Aging Housing Stock
The American owner-occupied housing stock is growing older. And this fact may signal future increased demand for both remodeling and new home construction over the long-term. Data from the Department of Housing and Urban Development American Housing Survey (AHS) reveal that the median age of an owner-occupied home in the United States was 34 years old as of the 2009 survey…. Read More ›
New NAHB Research: Apartment Rent Estimating Model
In October, NAHB released an updated version of the statistical model it maintains for estimating the average price of a single-family home. Economist Paul Emrath has now published a companion model designed to estimate average gross rent for an apartment in a building with five or more housing units. Like the house price model, the NAHB rent estimator is calibrated with… Read More ›
Construction Hiring Slows While Overall Hiring Increases, per November JOLTS Data
Job Openings and Labor Turnover Survey (JOLTS) data for November from the Bureau of Labor Statistics indicates improving hiring conditions for the overall economy. While total job openings for all non-farm sectors were essentially unchanged at 3.2 million, total hires increased to 4.1 million, which is tied with September of 2011 for the most number of hires since the Fall of 2008. The… Read More ›
Top 2011 Posts: Research on Pent-Up Housing Demand
With the end of 2011 approaching, the contributors of NAHB’s Eye on Housing thought it would be useful to take a look at the updates that attracted the most readers over the last year. One of the most important stories of 2011 (and 2012) is the growning phenomenom of pent-up housing demand. In February, an NAHB research paper quantified this… Read More ›
3rd Quarter 2011 AD&C Lending Update
According to FDIC Statistics of Banking for the third quarter of 2011, lending for acquisition, development and construction (AD&C) purposes continues to decline. However, the rate of decline is slowing, perhaps indicating that most troubled loans are now off bank balance sheets. Debt availability for home building purposes is significantly tighter than loans for commercial construction activities. Data from the FDIC, graphed below, confirm… Read More ›