Tag Archive for ‘single-family’

Builder Confidence Holds Steady in March

Builder confidence in the market for newly-built single-family homes held steady at 62 in March, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builders report the market is stabilizing following the slowdown at the end of 2018, and they anticipate a solid spring home buying season. In a healthy sign for the housing market,… Read More ›

New Home Sales Distribution Highlights Affordability Opportunity

Upward revisions to December and November data resulted in a 6.9% decline for new single-family homes sales in January, according to data from the joint release of HUD and the Census Bureau. The seasonally adjusted annualized January pace of 607,000 was 4.1% lower than January of 2018; however, combined with lower mortgage interest rates, the first monthly rate for 2019 establishes a solid… Read More ›

Flat Conditions for Custom Home Building

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building was effectively flat over the course of 2018. There were 36,000 total custom starts for the fourth quarter of 2018. This was down compared to the final quarter of 2017 (40,000). Over the course of 2018, custom housing starts totaled 170,000. This… Read More ›

New Single-Family Home Size Continues Decline

Continuing a multiyear trend, new single-family home size decreased during the final quarter of 2018. According to fourth quarter 2018 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked down to 2,316 square feet. Average (mean) square footage for new single-family homes increased to 2,567 square feet. On a less volatile one-year moving average,… Read More ›

Total Housing Starts Rebound in January

Total housing starts increased 18.6 percent in January 2019 (1.230 million units) compared to a revised down December estimate of 1.037 million units. However, total starts are 7.8 percent below the January 2018 level of 1.334 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department that was delayed due to the partial government… Read More ›

Homes Built in Nonmetropolitan America

Of the 848,000 single-family homes started in the U.S. in 2017, roughly 79,000 were nonmetropolitan—that is, they were built outside one of the officially-defined metropolitan areas—as reported in a recent NAHB study,  At 79,000, nonmetropolitan single-family starts were up 40 percent from the trough in 2011, compared to a 97 percent for single-family starts overall. The NAHB study is based on territory… Read More ›

AD&C Loan Stock Declines for First Time Since 2013

The volume of residential construction loans decreased 0.2% during the fourth quarter of 2018, ending a period of 22 consecutive quarters of growth. While the decline was small, the slowdown in the stock of lending for development purposes mirrors a recent NAHB survey finding neutral conditions for AD&C lending as interest rates increased. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting… Read More ›

New Home Sales Up 1.5% for the Year

Despite a period of weakness during the Fall of 2018, new home sales ended 2018 up 1.5% compared to the total for 2017. Contracts for new, single-family home sales increased almost 4% to a 621,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. However, the surprisingly strong initially reported November pace was revised down from a… Read More ›

Multifamily Construction Spending Hits New Record High

NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $536.7 billion in December. It was down 1.4% for the month after a 3.4% increase in November. Total private residential spending was 3.3% higher in 2018 relative to 2017. Multifamily construction spending hit a new record high,… Read More ›