Tag Archive for ‘multifamily’

Moderate Growth in Existing Home Sales in November ….. Benchmark Revisions Released

Existing home sales continued to grow at a moderate rate on a month-to-month basis in November and also improved upon their year ago level. The National Association of Realtors (NAR) reported sales of existing homes, completed transactions of single-family, townhomes, condominiums and co-ops rose 4.0% in November to a seasonally adjusted annual rate of 4.42 million. This follows a modest… Read More ›

Multifamily Shows Continued Strength

The Census Bureau’s preliminary estimate of starts in buildings with five or more apartments for November surged 32 percent to a seasonally adjusted annual rate of 230,000. While growth in this sector is typically more volatile than the single family sector, the trend is clearly upward, with production more than doubling since the trough in late 2009, and recovering to… Read More ›

Single-Family and Multifamily Starts: Long-Run Trends

Growth in multifamily construction is leading the recent increase in housing starts. And with many analysts focusing on multifamily development, we thought it would be useful to consider the long-run relationship between single-family and multifamily housing starts. Over the last 40 years, a discernible trend has emerged with respect to the ratio of single-family to multifamily housing starts. Overall, both types of starts have been subject… Read More ›

Top 2011 Posts: The Rental Housing Stock

With the end of 2011 approaching, we here at NAHB’s Eye on Housing thought we would take a look at the updates that attracted the most readers over the last year. In July we examined the composition of the rental housing stock in the United States. The NAHB analysis of 2009 Census data found that one-third of rental housing consisted of… Read More ›

Declining Multifamily Vacancy Rates Point to Future Growth

Data from the Survey of Market Absorption (SOMA), produced by the Census Bureau and the Department of Housing and Urban Development, reveal limited weakness in the multifamily sector for the first half of 2011. However, declining multifamily vacancy rates are a hopeful sign for future multifamily market expansion, which is consistent with improving responses reported in NAHB multifamily surveys. The SOMA tracks completions and… Read More ›

Residential Construction Spending Rises in October

Spending on private residential construction projects jumped 3.4% during October. The initial estimate for September was also revised higher, shifting from a gain of 0.2% up to 0.6%. Even with these recent improvements, total private residential construction spending has failed to gain any considerable forward momentum in the past year, with modest growth of only 1.7% rate versus October 2010…. Read More ›

Fed Beige Book: More Slow Growth

Aside from weaker results from the St. Louis District, economic activity increased at a “slow to moderate pace” across the nation according to the latest release of the Federal Reserve’s Beige Book. The majority of Fed Districts reported modest gains in consumer spending, both auto and non-auto sales, and most had positive expectations for holiday sales. Tourism activity appeared to… Read More ›

Homeownership Rate Rises during Third Quarter of 2011

The US Census Bureau reported the seasonally adjusted homeownership rate registered a slight gain during the third quarter of 2011, increasing to 66.1 percent. Although this marks the first outright quarter-to-quarter increase since mid-2008, the homeownership rate is still at its lowest level since the second quarter of 1998 and 3.3 percentage points below the peak reading set back in… Read More ›

Construction Spending Ticks Higher in September

Private residential construction spending increased 0.2% during September. Construction activity has failed to expand consistently in the past year—six month-to-month increases offset by five monthly declines. Overall, private residential construction spending inched up a meager 0.1% compared to September 2010. The new single-family home category posted its fourth consecutive month-to-month gain during September, rising 0.5%. However, homebuilding activity can, at… Read More ›