Eye On Housing
In the second quarter of 2021, interest rates on three of the four categories of loans tracked in NAHB’s Survey on Acquisition, Development & Construction (AD&C) Financing continued the downward trend that has prevailed since the third quarter of last year. The average effective rate (based on rate of return to the lender over the assumed life of the loan… Read More ›
As the market has cooled due to higher costs, July recorded a slight gain of 1% for sales of newly-constructed single family homes, according to estimates from the Census Bureau and HUD. The July seasonally adjusted annual rate (708K) was 27% lower than a year ago, due to builders slowing sales as a consequence of higher material and other costs… Read More ›
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. Recent data confirms this impact on the market is occurring. According to second quarter 2021 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area increased to… Read More ›
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building posted the second best quarter since the Great Recession during the Spring of 2021. There were 54,000 total custom building starts during the second quarter of the year. This marks a 15% gain from the second quarter of 2020, a comparison affected… Read More ›
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction in the second quarter of 2021 posted the highest count of starts in 14 years. As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction lagged for much of 2020. However, demand for… Read More ›
The number of single-family built-for-rent (SFBFR) construction starts is expanding as demand for single-family structures, both for-sale and for-rent, remains strong. The SFBFR market is a way to add inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period when people want more space and a single-family structure. Single-family built-for-rent construction differs with respect… Read More ›
Housing production declined in July due to rising prices and limited availability of lumber and other building materials. Overall housing starts decreased 7.0% to a seasonally adjusted annual rate of 1.53 million units, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The July reading of 1.53 million starts is the number… Read More ›
Over the six months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 589,146. On a year-over-year (YoY) basis, this is a 35.9% increase over the June 2020 level of 433,484. Year-to-date ending in June, single-family permits increased in all four regions. The Northeast region reported the strongest increase of 39.6%, followed by the Midwest (+35.9%),… Read More ›
According to the Census Bureau’s Survey of Construction, the share of new homes started with 5,000 square feet or more of living space stood at 2.50 percent in 2020, down from 2.71 percent in 2019. A total of 25,000 5,000+ square-foot homes were started in 2020, compared to 24,000 in 2019. The declining number and share of 5,000+ square foot… Read More ›
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 ›