Tag Archive for ‘single-family’

New Home Sales Slow in June

As supply-side challenges continue, June recorded a decline of 6.6% for sales of newly-constructed single family homes, according to estimates from the Census Bureau and HUD. The June seasonally adjusted annual rate (676K) was the lowest since April 2020, due to builders slowing sales as a consequence of higher material costs and declining availability of labor, material and lots. Higher… Read More ›

Modular and Other Non-Site Built Housing In 2020

The total market share of non-site built single-family homes (modular and panelized) was at 3% of single-family completions in 2020, according to Census Bureau Survey of Construction data and NAHB analysis. This share is expected to rise moderately in 2021 and in the years ahead, due to the ongoing labor shortage in the residential construction sector and the need to lift labor… Read More ›

Most Common Exteriors On New Homes are Stucco and Vinyl in 2020

According to the data from the Census Bureau’s Survey of Construction (SOC), stucco was the most common principal exterior material on new single-family homes started in 2020 (28 percent),  followed by Vinyl siding (26 percent), fiber cement siding (such as Hardiplank or Hardiboard (21 percent), brick or brick veneer (19 percent). Far smaller shares of single-family homes started last year had wood… Read More ›

Housing Starts Solid But Permits Weaken in June

Housing production was steady in June, although permit issuance weakened as higher construction costs and other supply limitations are deferring and delaying some construction projects. Overall housing starts increased 6.3% to a seasonally adjusted annual rate of 1.64 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. However, single-family permits… Read More ›

Builder Confidence Edges Lower as Material Challenges Persist

Strong buyer demand helped to offset ongoing supply-side challenges of labor shortages, regulatory costs, and rising prices of materials as builder confidence in the market for newly built single-family homes inched down one point to 80 in July, according the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Among the supply-side challenges, the price of OSB (oriented… Read More ›

May Single-Family Permit Gains

Over the five months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 483,878. On a year-over-year (YoY) basis, this is a 38.7% increase over the May 2020 level of 348,898. Year-to-date ending in May, single-family permits increased in all four regions. The Northeast region reported the strongest increase of 48.8%, followed by the Midwest (+45.6%),… Read More ›

What Areas Grew the Most? Single-Family Home Building in 2020

According to NAHB analysis of the Survey of Construction (SOC), new single-family starts expanded at a fast pace in 2020. Nationally, 993,635 new single-family units were started in 2020, 12% higher than the units started in 2019. It marked the fastest growth rate since 2013 and the highest count of starts since the Great Recession. Among all the nine Census… Read More ›

Did the Share of Concrete-Framed Homes Rise in 2020?

Higher prices and limited availability of softwood lumber has been a key issue for housing and the overall inflation situation for the U.S. economy. With this in mind, did higher lumber prices in 2020 result in higher market shares for non-wood framed single-family homes? Wood framing remains the dominant construction method for single-family homes in the U.S., according to NAHB… Read More ›

Supply Constraints Hold Back May New Home Sales

After notable and expected downward revisions for prior months, May recorded a decline of 5.9% for sales of newly-constructed single family homes, according to estimates from the Census Bureau and HUD. The May seasonally adjusted annual rate (769k) was the lowest in a year, due to builders slowing sales as a consequence of higher material costs and declining availability of… Read More ›

Single-Family Starts Steady in May

Housing production was steady in May, although permit issuance weakened as higher costs are deferring and delaying some construction projects. Overall housing starts increased 3.6% to a seasonally adjusted annual rate of 1.57 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The May reading of 1.57 million starts is… Read More ›