Tag Archive for ‘starts’

Mixed Signals from Housing

Census and HUD reported a decline in May housing starts and permits, but the headline numbers do not tell the whole story. First, the driver in the declines in both starts and permits was multifamily apartment construction, which was down to 376,000 starts (-7.6%) and to 372,000 permits (-19.5%). But the three-month moving average for multifamily starts is still the… Read More ›

Single-Family Built for Rent Market Remains Off Recent Market Highs

Single-family starts built-for-rent were effectively unchanged at 4,000 starts for the first quarter of 2014. While the market share of built-for-rent single-family units remains elevated, the share and count of starts appear to be declining off post-Great Recession highs. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent,… Read More ›

Slight Rise in Owner/Contractor Built Housing

The market share of homes built on an owner’s land, with either the owner or a builder acting as the general contractor, was effectively unchanged on a quarter-over-quarter basis at the start of 2014. NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of starts of this type of custom home… Read More ›

Townhouse Market Share Weakening with Drop in First-Time Buyers

Total townhouse construction declined on a year-over-year basis during the first quarter of 2014. According to NAHB analysis of Census data of Starts and Completions by Purpose and Design, single-family attached starts totaled 13,000 for the quarter, compared to 15,000 during the first quarter of 2013. Over the last four quarters, townhouse construction starts totaled 66,000, down from the 72,000 total for the four quarters… Read More ›

Average New Multifamily Home Size at the Start of 2014

After rising during the boom years and falling during the Great Recession, the average size of newly built, multifamily units remains close to levels seen a decade ago. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily units is likely to rise. According to fourth quarter data from the Census Bureau and NAHB analysis, the… Read More ›

Size of Typical New Single-Family Home Rises at the Start of 2014

The average size of newly built single-family homes increased during the first quarter of 2014, with much of the recent trend in increasing size likely due to an atypical mix of buyers. According to first quarter 2014 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, average single-family square floor area increased from 2,656 to 2,736 square feet, while… Read More ›

Starts and Permits over One Million

Housing starts exceeded one million for first time since last year and housing permits were over one million for a third consecutive month. The increases were almost entirely in multifamily rental construction. Multifamily construction soared 40% to 423,000 starts, the highest since January 2006 and permits also rose 20% to 478,000, the highest in almost six years. Multifamily starts were… Read More ›

Housing Starts Reverse Winter Slump

Census and HUD reported March housing starts were up 2.8% from an upwardly revised February. Single-family starts accounted for all of the increase, rising 6% to 635,000 on a seasonally-adjusted annual basis. The increase was particularly strong in the hardest hit northern US of the Northeast and Midwest regions where single-family starts increased 39% and 29% respectively. Housing permits dropped… Read More ›

Housing Construction Holds Steady

The unusual weather that kept builders out of the field continued into February and kept starts below their expected levels. February housing starts were virtually unchanged from slightly upward revised January figures for both total starts as well as single-family and multifamily. Total housing starts were 907,000 on a seasonally-adjusted annual basis, nearly identical to 909,000 in January, which was… Read More ›

Housing Starts Drop in January

The pace of new home construction declined sharply in January, mirroring the drop in the February NAHB / Wells Fargo Housing Market Index (HMI). Regional data and builder surveys suggest weather played a large role. Following the ten point drop in the HMI to a level of 46, total housing starts declined 16% to a seasonally adjusted annualized rate of… Read More ›