Eye On Housing
Reflecting the unprecedented housing shortages across the United States in the post-pandemic market, U.S. vacancy rates hit their lowest readings in decades in 2021. According to NAHB’s analysis of the 2021 American Community Survey (ACS), owner vacancy rates dropped below 0.9% and rental vacancy rates reached a new low of 5.2%, the lowest levels recorded by the ACS since the… Read More ›
In the first quarter of 2022, multifamily home building showed greater growth across all regional markets compared to the first quarter of 2021, per the NAHB’s Home Building Geography Index (HBGI). Apartment construction far outpaced single-family building in all regional geographies but especially in lower density markets1. Low rental vacancy rates and rising rents gave multifamily developers confidence to continue… Read More ›
Vacancy rates are one of the key statistics NAHB Economics tracks to judge the health and direction of the housing market. The currently low homeowner and rental vacancy rates are typically interpreted as a sign of tight housing markets, with lower vacancy rates signaling a greater housing shortage. NAHB’s analysis of the latest 2017 ACS vacancy data highlights the metropolitan… Read More ›
According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate was 63.6% in the first quarter 2017, which is statistically no different from its last quarter reading of 63.7%. The rate of homeownership appears to be stabilizing after reaching a cycle low of 62.9% in the second quarter of 2016. Compared to the peak at the end… Read More ›
In the third quarter of 2015, the NAHB’s Multifamily Production Index (MPI) increased one point to a level of 56. This marks the 15th consecutive quarter with a reading of 50 or above, which indicates that more respondents report conditions are improving than report conditions are becoming worse. The MPI is fairly consistent with the strong performance of multifamily starts, which have recovered from… Read More ›
NAHB’s Multifamily Production Index (MPI) edged up one point to 55 in the second quarter, marking the 14th consecutive quarter that the index has been 50 or above. The MPI measures builder and developer sentiment on a scale of 0 to 100, where any number over 50 indicates that more respondents report conditions are improving than report conditions are getting… Read More ›
In the fourth quarter of 2012, NAHB’s Multifamily Vacancy Index (MVI), which measures property owners’ confidence in the strength of the market for existing rental apartments, improved slightly—falling two points to 31. Because the MVI captures the industry’s sentiment about apartment vacancies, lower numbers are better. After peaking at 70 in the second quarter of 2009, the MVI declined consistently… Read More ›
The seasonally adjusted homeownership rate remained unchanged at 65.3% during the final three months of 2012. For the year as a whole, the homeownership rate averaged approximately 65.5%–the weakest calendar year average since 1996. Homeownership rates declined across all age groups compared to the fourth quarter of 2011; however, the largest year-over-year decline occurred among households headed by a person… Read More ›
The Census Bureau reported the seasonally adjusted homeownership rate remained unchanged at 65.6 percent during the second quarter of 2012, hovering at a 15-year low for the 2nd consecutive quarter. The performance across household head age groups was mixed as the under 35 and 55-64 cohorts saw homeownership rates decline compared to the first quarter of 2012. By contrast, homeownership… Read More ›