Tag Archive for ‘multifamily’

Housing Starts Solid But Permits Weaken in June

Housing production was steady in June, although permit issuance weakened as higher construction costs and other supply limitations are deferring and delaying some construction projects. Overall housing starts increased 6.3% to a seasonally adjusted annual rate of 1.64 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. However, single-family permits… Read More ›

May Single-Family Permit Gains

Over the five months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 483,878. On a year-over-year (YoY) basis, this is a 38.7% increase over the May 2020 level of 348,898. Year-to-date ending in May, single-family permits increased in all four regions. The Northeast region reported the strongest increase of 48.8%, followed by the Midwest (+45.6%),… Read More ›

Inflation Hits 13-Year High

In June, consumer prices increased at the fastest pace in the past 13 years. The recent surge in inflation mainly reflect increases in a few sectors influenced by the pandemic shutdown and rebounding demand as the economy fully reopens. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.9% in June on a seasonally… Read More ›

Single-Family Starts Steady in May

Housing production was steady in May, although permit issuance weakened as higher costs are deferring and delaying some construction projects. Overall housing starts increased 3.6% to a seasonally adjusted annual rate of 1.57 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The May reading of 1.57 million starts is… Read More ›

Post-Winter Storm Uptick for Sawmill Output in March

The historic climb for lumber prices, combined with delays and higher costs for other building materials, is a significant limiting factor for home building in 2021. Despite a historically diminished level of overall housing inventory and solid demand due to low mortgage interest rates and demographics, new construction has been limited in its ability to add needed supply to the market,… Read More ›

April Single-Family Permit Gains; Austin 2nd Largest Multifamily Market

Over the four months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 384,196. On a year-over-year (YoY) basis, this is a 35.6% increase over the April 2020 level of 283,344. Year-to-date ending in April, single-family permits reported increases in all four regions. The relatively more affordable Midwest reported the strongest increase of 49.8%, followed by… Read More ›

Multifamily Built-for-Rent Share: 96% of Starts

According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts remained elevated at 96% during the first quarter of 2021. 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 ›

Multifamily Sentiment Improves in the First Quarter of 2021

Confidence in the market for new multifamily housing increased in the first quarter of 2021, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB).  The MMS produces two major indices: the Multifamily Production Index (MPI) and the Multifamily Occupancy Index (MOI).  The MPI increased eight points to 51 in the… Read More ›

Construction Cools as Costs Climb

Housing production declined in April due to rising prices and limited availability of lumber and other building materials. Overall housing starts decreased 9.5% to a seasonally adjusted annual rate of 1.57 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Nonetheless, the prior March pace (1.73 million annualized) was the… Read More ›