Eye On Housing
Housing production continue to slow in February off strong levels as rising lumber and other material prices continue to affect the housing industry. Overall housing starts decreased 10.3% percent to a seasonally adjusted annual rate of 1.42 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The February reading of… Read More ›
Over the first month of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 83,921. On a year-over-year (YoY) basis, this is a 19.2% increase over the January 2020 level of 70,386. Year-to-date ending in January, single-family permits reported increases in all four regions. The relatively more affordable Midwest reported the strongest increase of 21.5%, followed by… Read More ›
Builder and developer confidence in multifamily markets fell in the last quarter of 2020, according to the results of the National Association of Home Builders’ Multifamily Market Survey (MMS). The MMS produces two separate indices: The Multifamily Production Index (MPI), which fell 5 points to 43; and the Multifamily Vacancy Index (MVI), which edged down two points to 42, with… Read More ›
According to NAHB analysis of quarterly Census data, the market share of rental units of total multifamily construction starts ticked higher to near 97% during the fourth quarter of 2020. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An average share of 80% was registered during the… Read More ›
Housing production softened in January as rising lumber prices continue to affect the housing industry. Overall housing starts decreased 6% percent to a seasonally adjusted annual rate of 1.58 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The January reading of 1.58 million starts is the number of housing… Read More ›
For 2020, the total number of single-family permits issued year-to-date (YTD) reached 977,863 nationwide. On a year-over-year (YoY) basis, this is a 14.5% increase over the December 2019 level of 854,158. Year-to-date ending in December, single-family permits reported increases in all four regions. The South reported the strongest increase by 16.9%, followed by the Midwest (+13.1%), the Northeast (+11.6%), and… Read More ›
In many communities, 2-4 unit multifamily housing (structures with two, three or four units) is the key to expanding the existing housing stock, in order to solve the housing shortage. Two-four unit multifamily residences such as duplexes, fourplexes, townhomes, courtyard buildings, and cottage courts provide much needed entry-level housing options and/or more affordable housing for the first-time home buyers and… Read More ›
Total housing starts posted a 5.8 percent increase in December (1.67 million units) compared to an upwardly revised November estimate of 1.58 million units according to the joint data release from the Census Bureau and HUD. Relative to December 2019, total starts are 5.2 percent above the annual pace of 1.59 million units. Single-family starts posted a monthly increase of… Read More ›
Over the first eleven months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 888,217. On a year-over-year (YoY) basis, this is an 12.2% increase over the November 2019 level of 791,452. Year-to-date ending in November, single-family permits across the four regions ranged from an increase of 14.4% in the South to an increase of 8.0% in the Northeast…. Read More ›
Single-family starts leveled off in November, according to data from the U.S. Department of Housing and Urban Development and the Census Bureau. Single-family construction is up 10.1% year-to-date, with notable gains in 2020 for the Midwest, parts of the West and other lower-density markets. The pace of single-family starts in November was the highest production rate since the spring of… Read More ›