Eye On Housing
Looking at single-family homes started in 2013, new NAHB research quantifies regional differences in sale and contract prices per square foot. The prices excluding lot values range from $145 per square foot for contractor-built homes in the Pacific division to $73 per square foot for speculatively-built homes in the West South Central division. The NAHB analysis is based on the… Read More ›
Data released by the Mortgage Bankers Association (MBA) indicates that the delinquency rate for mortgage loans on one-to-four-unit residential properties, considered single-family properties, decreased to a seasonally adjusted rate of 6.04% of all loans outstanding at the end of the second quarter of 2014, 7 basis points less than its level in the first quarter of 2014 and 92 basis… Read More ›
In a recent study, NAHB examines eight key housing statistics from the 2012 American Community Survey (ACS). This post takes a closer look at one of those statistics; the share of homeowners living in single-family detached housing. The share of homeowners living in single-family detached housing is calculated by taking the total number of single-family detached units divided by the… Read More ›
Data from the Mortgage Bankers Association shows that the share of mortgage loans that are past due declined by 55 basis points (one basis point = one hundredth of a percent) to a seasonally adjusted rate of 6.5% in the third quarter of 2013. This is the lowest rate since the second quarter of 2008. Over the past year, the… Read More ›
Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics research shows that a home purchase triggers additional spending on appliances, furnishings, and remodeling. Such spending typically exceeds that of non-moving home owners and persists for two years after moving. The NAHB analysis compares spending behavior among three groups of single-family detached home owners:… Read More ›
According to the Mortgage Bankers Association, the delinquency rate for mortgage loans on one-to-four family residential properties was 6.8% on a not seasonally adjusted basis in the second quarter of 2013, up slightly (0.06 percentage point) from its level in the first quarter, but 0.6 percentage points lower than its level in the second quarter of 2012. The technical increase… Read More ›
Total private residential construction spending increased to a seasonally adjusted annual rate of $328.6 billion in May 2013, the fastest pace of residential construction since October 2008. The reading is 1.2 percent above the positively revised April estimate and 22 percent higher since a year ago. All three components of residential construction spending registered gains. New multifamily construction spending showed… Read More ›
Nationally, house prices continued to rise in April, contributing to the overall recovery in U.S. house prices. According to the most recent release by the Federal Housing Finance Agency, U.S. house prices rose by 0.7% on a month-over-month seasonally adjusted basis in April. This is the fifteenth consecutive monthly increase for the House Price Index – Purchase Only. Since January… Read More ›
The homeownership rate declined slightly during the first quarter of 2013, falling to a seasonally adjusted reading of 65.2%. This marks the lowest reading since the end of 1995 and a 4.2 percentage point drop versus the peak observed in mid-2004. While the homeownership rate is somewhat lower than its 20-year historical average, the rate has not fallen as low… Read More ›
On balance, the residential housing market has been improving in recent months, but the pace of recovery is partly restrained by frictions in the mortgage market. Against this backdrop, U.S. regulators have proposed comprehensive new regulatory capital requirements for U.S. banking organizations. These newly proposed rules will serve to implement Basel III, the most recent revision to international bank regulatory… Read More ›