Tag Archive for ‘housing’

Sales Growth Lifts Builder Confidence to New Record High

In another sign that housing continues to lead the economy forward, builder confidence in the market for newly-built single-family homes increased five points to 90 in November, shattering the previous all-time high of 85 recorded in October. Builder confidence levels have hit successive all-time highs over the past three months. Historically low mortgage rates, favorable demographics and an ongoing suburban… Read More ›

Builder Credit: More Expansive But More Costly in 3Q

While lenders continued to report tightening in the third quarter, builders and developers responding to NAHB’s survey on financing for Acquisition, Development and Construction (AD&C) reported a near-neutral change in credit availability.  The net tightening index derived from the NAHB survey was -3.3 in the third quarter of 2020, compared to 12.0 in the second quarter. The index is constructed… Read More ›

Reduced Turnover in Construction Labor Market

The construction labor market experienced a reduced level of turnover in the September BLS JOLTS (Job Openings and Labor Turnover) data. The construction sector hiring rate slowed somewhat in September, coming in at 5.3%, after 5.5% gains in August and July. The peak rate of hiring in 2020 occurred in May (9.7%). Construction sector layoffs have been low since May… Read More ›

Highest Paid Occupations in Construction in 2019

According to the 2019 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 $49,030 and the top 25% make at least $68,690. In comparison, the U.S. median wage is $39,810, while the top quartile (top 25%) makes at least $64,240…. Read More ›

Share of New Homes with Decks Declines Again

Of the roughly 879,000 single-family homes started in 2019, 20.3 percent included decks, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).  This is down over two percentage points from percentage points from the 22.6 percent recorded a year earlier, which in turn was down over… Read More ›

New Home Sales Growth Rate Slows in September

After a surge in the pace of new home sales in July and August, the growth rate of newly built single-family home slowed in September. While still strong, the growth rate of new home sales exceeded construction starts by a historic margin at the end of the summer, necessitating an increase in starts and some slowing of sales. According to… Read More ›

Home Building Continues Historic Climb

Single-family starts experienced continued gains in September, according to data from the U.S. Department of Housing and Urban Development and the Census Bureau. Contrasting the different subsectors of housing, while single-family permits are showing continued strength, multifamily permits continue to weaken as a consequence of the 2020 virus crisis. The pace of single-family starts in September was the highest production… Read More ›

Builder Confidence Continues Record Climb

In a further show of strength for the housing sector, builder confidence in the market for newly-built single-family homes increased two points to 85 in October, further surpassing the previous all-time high of 83 recorded in September, according to the latest NAHB/Wells Fargo Housing Market Index (HMI). These are the first two months the index has ever been above 80…. Read More ›

Over 90% of East South Central New Homes Have Porches

Of the single-family homes started in 2019, 64.7 percent came with porches, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial funding from the Department of Housing and Urban Development). Historically, the SOC shows the share of single-family homes with porches increasing regularly to a high of 65.7 percent in 2011 before dropping to under… Read More ›