Eye On Housing
The single-family built-for-rent sector continues to expand as housing affordability headwinds increase. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 13,000 single-family built-for-rent (SFBFR) starts during the first quarter of 2022. This is a 62.5% gain over the first quarter 2021 total. Over the last four quarters, 57,000… Read More ›
Single-family starts declined in April, as higher interest rates weighed on housing affordability, producing a fifth straight decline for the NAHB/Wells Fargo HMI. Additionally, the cost and availability of materials, lumber, labor and lots remain key supply-side headwinds. Single-family permits decreased 4.6% to a 1.11 million unit rate in April. Nonetheless, the resale market lacks inventory, which is supporting demand… Read More ›
Over the first three months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 278,189. On a year-over-year (YoY) basis, this is a 0.8% increase over the March 2021 level of 276,110. Year-to-date ending in March, single-family permits declined in three out of the four regions. The South posted a modest increase of 4.8% while the… Read More ›
During the first quarter of 2022, credit became tighter on loans for Acquisition, Development & Construction (AD&C) according to NAHB’s Survey on AD&C Financing. The NAHB survey produces a net easing index that summarizes the change in credit conditions, similar to the net easing index constructed from the Federal Reserve’s survey of senior loan officers (SLOOS). In the first quarter… Read More ›
Population growth in the United States amounted to just 0.12% in 2021 (between July 2020 and July 2021), the slowest rate on record dating back to 1900. The sharp slowdown in population growth over the past two years is almost entirely due to pandemic-related factors, namely decreased birth rates, increased mortality and decreased net international migration. Thirty-three states registered a… Read More ›
New single-family home sales declined in March as mortgage rates jumped to the highest levels since the start of the pandemic. Per Freddie Mac, the 30-year fixed rate mortgage was 3.89 at the end of February and had climbed to 4.67 at the end of March. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated… Read More ›
Single-family starts permits declined in March, as higher interest rates weighed on housing affordability and produced a fourth straight decline for the NAHB/Wells Fargo HMI. Additionally, the cost and availability of materials, lumber, labor and lots remain key supply-side headwinds. Nonetheless, the resale market lacks inventory supporting ongoing demand for new construction. Single-family permits decreased 4.8% to a 1.15 million… Read More ›
Over the first two month of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 170,716. On a year-over-year (YoY) basis, this is a 3.5% increase over the February 2021 level of 164,901. Year-to-date ending in February, single-family permits declined in two out of the four regions. The South posted an increase of 7.6% while the Midwest… Read More ›
New single-family home sales posted a second monthly decline in February as housing demand was affected by a jump in mortgage rates. After starting at 3.1% in December, rates increased to 3.45% in January and 3.76% in February, per Freddie Mac. Additionally, builders continue to grapple with supply-chain issues, limiting inventory in a market for which new construction is an… Read More ›
Single-family starts posted a small increase in February, as lack of resale inventory continues to support housing demand despite higher interest rates. The availability of materials, lumber, labor and lots remain key headwinds, with access to labor in particular likely to become more challenging in 2022. Overall housing starts increased 6.8% in February to a seasonally adjusted annual rate of… Read More ›