Tag Archive for ‘housing’

Townhouse Construction Surged in 2021

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction jumped 28.1% in 2021. 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 medium density neighborhoods returned as the economy more fully reopened during… Read More ›

Single-Family Built-for-Rent Growth in 2021

The number of single-family built-for-rent (SFBFR) construction starts increased almost 16% in 2021, after a record-breaking third quarter for production. 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 a growing number of people want more space and a single-family structure. Single-family built-for-rent… Read More ›

Slight Decline for January Single-Family Starts

Single-family starts dipped somewhat in January, as ongoing supply-chain issues are adding cost and construction time to home building. The availability of labor and lots also remain key headwinds, with labor likely to become more challenging in 2022. Overall housing starts decreased 4.1% to a seasonally adjusted annual rate of 1.64 million units, according to a report from the U.S…. Read More ›

Year-over-Year Gains for Construction Job Openings

The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs declined for the month to 337,000 unfilled positions in December. The highest measure in the history of the data series (going back to late 2000) was 445,000 in October 2021. The housing market remains underbuilt and requires… Read More ›

Housing Share of GDP: 16.4%

Thanks to a surge in residential investment during 2020 and ongoing strength in 2021, housing’s share of GDP remains elevated compared to most of the post-Great Recession period. Due to the pandemic, market conditions evolved with a renewed focus on the importance of home, a shifting geography of housing demand, and a lack of for-sale inventory. Housing continued to expand… Read More ›

Fed Rate Hike Coming in March

At the conclusion of its January policy meeting, the Federal Open Market Committee strongly signaled that it will undertake its first, post-covid increase of the federal funds rate in March. The Fed is tightening monetary policy in response to the highest inflation readings in nearly 40 years. These inflationary pressures have increased both consumer costs and businesses input costs, including… Read More ›

New Home Sales Increase in December

New single-family home sales increased in December as housing demand was lifted by buyers accelerating some contract signings due to anticipated higher mortgage interest rates in 2022. However, for the year as a whole, sales ended 7.3% lower than a supercharged 2020, as builders slowed some sales to manage ongoing building material and labor issues affecting the housing industry. The… Read More ›

Remodeler Sentiment Continues to Improve Year-over-Year

The NAHB/Royal Building Products Remodeling Market Index (RMI) for the fourth quarter posted a reading of 83, up four points from the fourth quarter of 2020.  The reading is a sign of positive residential remodeler sentiment for projects of all sizes. The RMI is based on a survey that asks remodelers to rate various aspects of the remodeling market “good,” “fair”… Read More ›

Housing Starts End 2021 with Annual Gains

Home building ended 2021 with strong annual gains as demand accelerated in the wake of the pandemic. These annual gains were realized despite supply-chain limitations for materials and ongoing access issues for labor and lots. Single-family starts ended 2021 with a 13.4% increase for a total of 1.123 million starts. Multifamily 5+ unit construction ended the year with a 22.1%… Read More ›