Tag Archive for ‘single-family’

New Home Sales Post Strong February Reading

New home sales were solid in February before challenges associated with the coronavirus set in on the economy. Contracts for new, single-family home sales declined slightly in February by 4% to a 756,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. However, this marked a 14% gain over the February 2019… Read More ›

Housing Permits Started 2020 Strong

Over the first month of 2020 – and prior to the impact of the coronavirus, the total number of single-family permits issued year-to-date (YTD) nationwide reached 70,386. On a year-over-year (YoY) basis, this is a 21.2% increase over the January 2019 level of 58,086. Year-to-date ending in January, single-family and multifamily permits reported growth across the country. Northeast led in… Read More ›

Builder Confidence Declines But Remains Solid Amid Rising Risks

Builder confidence in the market for newly-built single-family homes fell two points to 72 in March, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Sentiment levels have held in a firm range in the low- to mid-70s for the past six months. Builder confidence remains solid, although sales expectations for the next six months… Read More ›

Small Year-over-Year Gain for Construction Loans

As interest rates declined during the second half of 2019, the stock of outstanding residential construction loans declined during the final quarter of 2019. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions declined 0.8%. The volume of loans fell by $615 million during the quarter, placing the total stock of loans at $79.7 billion. On a… Read More ›

New Home Sales Surge to Start 2020

Contracts for new, single-family home sales increased 7.9% in January to a 764,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The increase came off an upwardly revised December estimate, which was revised from an initial reading of 694,000 to a new estimate of 708,000. Year-over-year, the January estimate is 18.6%… Read More ›

New Single-Family Home Size Continues to Fall

New single-family home size trended lower during the final quarter of 2019 as interest rates remained low and builders seek to add additional entry-level supply. According to fourth quarter 2019 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked down to 2,252 square feet. Average (mean) square footage… Read More ›

Custom Home Building Posts Gain for 2019

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded during the fourth quarter of 2019, supported by low mortgage interest rates. There were 44,000 total custom building starts during the fourth quarter of 2019. This marks a 16% gain over the final quarter of 2018 total of 38,000. Over the… Read More ›

Rates on Construction Loans Continue to Drift Downward

In the fourth-quarter of 2019, builders and developers reported declining interest rates on all types of loans covered in NAHB’s quarterly survey on acquisition, development and construction (AD&C) financing (Exhibit 8).  The average interest rate declined from 6.39 to 6.13 percent on loans for land acquisition, from 6.31 to 5.94 percent on loans for land development, from 5.99 to 5.63… Read More ›

Single-Family Built-for-Rent Construction Slow in 2019

The number of single-family homes built-for-rent (SFBFR) posted a year-over-year decline for the fourth quarter of 2019. The SFBFR market has received attention as a means to add single-family inventory amid concerns over housing affordability and downpayment requirements in the for-sale market. Single-family built-for-rent construction does differ in structure characteristics compared other newly-built single-family homes. According to NAHB’s analysis of… Read More ›

Townhouse Construction Lower in 2019

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, after a strong 2018, townhouse construction experienced weakness over the course of 2019.  This recent market softness matches data in the NAHB HBGI, which revealed reduced construction activity for large metro suburban markets in 2019. These kind of higher density neighborhoods are often… Read More ›