Eye On Housing
Single-family homes built-for-rent starts increased to approximately 9,000 for the third quarter of 2015, compared to about 7,000 for the same period of 2014. However, the single-family built-for-rent market is a small portion of the total market, so care must be taken when identifying trends. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market… Read More ›
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of custom home building starts (homes built on an owner’s land, with either the owner or a builder acting as the general contractor) posted a slight increase on a year-over year basis as of the third quarter of 2015. Over the last four quarters, there… Read More ›
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, single-family attached starts totaled 26,000 for the third quarter of 2015, up 30% from a year prior. The third quarter level of townhouse construction is the fastest since the fourth quarter of 2007. Over the last four quarters, townhouse starts totaled 84,000 nationwide, a 20% gain over the… Read More ›
Permits to build new homes increased 4.1% in October to a level of 1.15 million per year. Both single-family and multifamily levels increased by 2.4% and 6.8% respectively. On a year-to-date basis, total permits are up 11.9%; single-family are up 8.6% and multifamily are up 17.2% as the housing market continues its modest pace of recovery. Housing starts were down… Read More ›
The NAHB recently published its latest Cost of Construction Survey. The survey shows that the average home was built on 20,129 square feet (about a half an acre) of land, had 2,802 square feet of finished space, and sold for an average of $468,318. Results further show that 61.8 percent of the average home sale price consisted of construction costs,… Read More ›
NAHB analysis of Census construction spending data shows that total private residential construction spending for September increased, rising to a seasonally adjusted annual rate of $395 billion. On a month-over-month basis, private single-family spending was $222 billion, up by 1.3% over the revised August estimate. Private multifamily spending increased to $57 billion, up by 5%. Annually, the pace of multifamily… Read More ›
Housing starts for the month of September rose 6.5% to an eight year high of 1.206 million units on a seasonally-adjusted annual basis. The increase was all in the multifamily sector, rising 18.3% to 466,000. Single-family starts were virtually unchanged at 740,000. This is the first month total starts passed the 1.2 million mark since October 2007. The trends in… Read More ›
NAHB analysis of the Census Bureau Survey of Construction (SOC) data shows that non-conventional forms of financing new single-family home purchases remained elevated in 2014, but their use and mix varied widely across the country. In the West North Central division, only 21 percent of new homes started in 2014 were purchased using non-conventional financing methods. The share was twice… Read More ›
For single-family homes started in 2014, median prices, excluding improved lot values, range from $159 per square foot for contractor-built homes in the Pacific and New England divisions to $80 per square foot for speculatively-built homes in the East South Central division. The most expensive new single-family homes in 2014 were contractor-built homes in the Pacific and New England divisions with the… Read More ›
According to NAHB analysis of Census Bureau’s quarterly data, property taxes made up 38.9% of state and local tax receipts among major sources over the last four quarters. Property tax collections, including commercial real property taxes and personal property taxes, totaled more than $503 billion over the last year. This represents an increase of almost $13 billion, as measured on a four-quarter trailing basis, or… Read More ›