Tag Archive for ‘multifamily’

Housing Construction Weakness Continued in March

According to a estimates from the U.S. Housing and Urban Development and Commerce Department, single-family starts continued to show weakness in March, despite the recent stabilization in the NAHB/Wells Fargo Housing Market Index (HMI). After downward revisions made to the February data, single-family starts were down 0.4% to a 785,000 seasonally adjusted annual pace in March, the lowest such rate… Read More ›

Energy Prices Rose Sharply in March

The Bureau of Labor Statistics (BLS) released the Consumer Price Index for March. On a seasonally adjusted basis, the Consumer Price Index (CPI) rose by 0.4% in March, after a 0.2% increase in February. Excluding the volatile food and energy components, the “core” CPI increased by 0.1% in March, the same increase as in February. The price index for a… Read More ›

Housing Starts Fall in February

Total housing starts posted a 8.7 percent decrease in February (1.162 million units) compared to a upwardly revised January estimate of 1.273 million units according to the joint data release from the Census Bureau and HUD. Relative to February 2018, total starts are 9.9 percent below the annual pace of 1.29 million units. The rate of single-family starts posted a… Read More ›

Built-for-Rent Construction Dominates Apartment Development

An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. According to fourth quarter 2018 data, the average per unit square footage of multifamily housing construction starts was 1,136, off from the… Read More ›

Consumer Prices Rose in February

Consumer prices rose modestly in February, reflecting increases in energy prices and the food index. The Bureau of Labor Statistics (BLS) released the Consumer Price Index for February. On a seasonally adjusted basis, the Consumer Price Index (CPI) rose by 0.2% in February after being unchanged for three consecutive months, as shown in Figure 1. Excluding the volatile food and… Read More ›

Total Housing Starts Rebound in January

Total housing starts increased 18.6 percent in January 2019 (1.230 million units) compared to a revised down December estimate of 1.037 million units. However, total starts are 7.8 percent below the January 2018 level of 1.334 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department that was delayed due to the partial government… Read More ›

Multifamily Construction Spending Hits New Record High

NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $536.7 billion in December. It was down 1.4% for the month after a 3.4% increase in November. Total private residential spending was 3.3% higher in 2018 relative to 2017. Multifamily construction spending hit a new record high,… Read More ›

Housing Starts Drop in December

With the delayed December data now published, the pace of single-family starts declined for the fourth consecutive month as housing affordability concerns weighed on the home construction market at the end of 2018.  However, home building posted gains in 2018 relative to 2017. Total single-family and apartment construction starts were up 3.6% for the year, according to the joint data… Read More ›

Energy Prices Continue to Fall

The CPI was unchanged in January. The decrease in energy prices in January offset increases in the “core” CPI and the food index. The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), was unchanged in January on a seasonally adjusted basis. The CPI remained unchanged for the third consecutive month. Over the past twelve months, on… Read More ›

U.S. Population Growth Persists but Growth Rate Slows

The U.S. population grew by 2.0 million between July 1, 2017 and July 1,2018, representing a 0.6% increase from 325.1 million to 327.2 million, according to the U.S. Census Bureau’s national and state population estimates. The 2017 population estimates were revised downward by about 0.6 million, from 325.7 million in the Census’s previous iteration of its estimation methodology. Despite initial… Read More ›