Tag Archive for ‘multifamily’

Single-Family Permits End On A Strong Note In 2020

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 ›

The Missing Middle: A Solution for Adding More Housing

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 ›

Housing Starts Ends 2020 Strong

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 ›

Continued Gains for November Single-Family Permits

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 Level Off in November

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 ›

Solid Gains for October Single-Family Permits

Over the first ten months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 808,301. On a year-over-year (YoY) basis, this is an 11.1% increase over the October 2019 level of 727,301. Year-to-date ending in October, single-family permits across the four regions ranged from an increase of 13.3% in the South to an increase of 7.0% in the Northeast…. Read More ›

Multifamily Built-for-Rent Share: 96%

According to NAHB analysis of quarterly Census data, the market share of rental units of total multifamily construction starts remained at 96% during the third 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 1980-2002 period…. Read More ›

Single-Family Starts: Best Pace Since Spring of 2007

Single-family starts experienced continued gains in October, according to data from the U.S. Department of Housing and Urban Development and the Census Bureau. Single-family construction is up 8.6% year-to-date, with notable gains in 2020 for the Midwest and other lower-density markets. The pace of single-family starts in October was the highest production rate since the spring of 2007. Single-family building… Read More ›

Strong Gains for September Single-Family Permits

Over the first nine months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 713,286. On a year-over-year (YoY) basis, this is an 10.2% increase over the September 2019 level of 647,244. Year-to-date ending in September, single-family permits across the four regions ranged from an increase of 12.4% in the South to an increase of 6.2% in the Northeast…. 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 ›