Eye On Housing
According to the Census Bureau’s Survey of Construction, the share of new homes started with 5,000 square feet or more of living space stood at 2.88 percent in 2018, down slightly from 3.08 percent in 2017. A total of 25,000 5,000+ square-foot homes were started in 2018, compared to 26,000 in 2107. The slight decline in 5,000+ square foot homes… Read More ›
New single-family home size trended lower during the third quarter of 2019 as interest rates remained low. According to third quarter 2019 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked up to 2,264 square feet. Average (mean) square footage for new single-family homes declined to 2,464 square… Read More ›
The Mortgage Bankers Association’s (MBA) latest National Delinquency Survey, 2nd quarter of 2019 data, reveal state-level variation in the timeliness of mortgage payments. Overall, the “seriously delinquent” rate, i.e., the proportion of home mortgage loans that are 90+ days delinquent or in the process of foreclosure, remained unchanged at 2.0% from the previous quarter1. The number of loans, however, in… Read More ›
According to the latest provisional birth report from the Center for Disease Control and Prevention (CDC), the US birth rate fell to its lowest level in 32 years with only 3,788,235 births recorded in 2018. This is 2% down from 2017 and the fourth consecutive annual decline. Birth rates declined for all age groups of women under 35 and only… Read More ›
Contracts for new, single-family home sales increased almost 5% on a monthly basis to a 692,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The months’ supply number improved to 6.0, which indicates the market is stabilizing after the fall off in sales last Fall due to higher interest rates. The… Read More ›
According to data from the Census Bureau’s Survey of Construction (SOC), 60.7 percent of all homes started in 2017 were built within a community or homeowner’s association. The Census Bureau defines community or homeowner’s associations as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions; these organizations are usually created when the… Read More ›
Looking at single-family homes started in 2017, the median prices per square foot, excluding improved lot values, range from $155 for contractor-built homes in the Pacific division to $86 for speculatively built homes in the East South Central division. The median sale and contract prices per square foot are up across most divisions. The most significant gains are registered in… Read More ›
Contracts for new, single-family home sales expanded by 6.2% in October to a 685,000 seasonally adjusted annual rate, according to estimates from the joint release of HUD and the Census Bureau. The strongest reading in a decade continues new home sales on a positive growth trend. The expansion is supported by ongoing job growth and improving household formations, as well as tight existing home inventory. Despite some volatility in the month-to-month sales figures, October marks the sixth… Read More ›
According to the Census Bureau’s Survey of Construction, the share of new homes started with 5,000 square feet or more of living space stood at 3.1% in 2016, down from 3.9 percent in 2015. The total number of 5,000+ square-foot homes started in absolute terms was 24,000, down from 28,000 in 2015. In 2015, the number of 5,000+ square feet… Read More ›
Contracts for new home sales expanded by 18.9% in September to a 667,000 seasonally adjusted annual rate, according to estimates from the joint data release of HUD and the Census Bureau. The solid reading in September returns new home sales to the positive growth trend it has been on for several years. This expansion is supported by ongoing job growth and improving household formations, as well as tight existing home inventory. Despite some… Read More ›