Eye On Housing
Total housing starts increased in October, with solid readings from the single-family sector. Total starts increased 13.7% to a 1.29 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. A jump in multifamily construction also increased the headline rate. Single-family starts increased for the month, rising to an 877,000 seasonally adjusted rate in… 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 3.1% in 2016, down from 3.9 percent in 2015. The total number of 5,000+ square-foot homes started in absolute terms was 24,000, down from 28,000 in 2015. In 2015, the number of 5,000+ square feet… Read More ›
According to data from the Census Bureau’s Survey of Construction (SOC), vinyl (including vinyl-covered aluminum) was the most common primary exterior wall material on new single-family homes started in 2016 nationwide (27.2 percent), followed by stucco (24.4 percent), brick or brick veneer (21.8 percent), and fiber cement siding (such as Hardiplank or Hardiboard) (20 percent). Wood or wood products accounted… Read More ›
Information released jointly by the Department of Housing and Urban Development and the Census Bureau indicates that total housing starts fell by 4.7 percent reflecting a 4.6 percent decline in single-family starts and a 5.1 percent drop in multifamily starts. This release reflects three dynamics, the impact of the recent hurricanes, the continued national trend growth in single-family starts, and… Read More ›
The pace of single-family starts posted a slight gain in August, albeit over downwardly revised estimates of the rate of July construction. Nonetheless, the three-month moving average for single-family starts is at a post-recession high of 849,000 as the gradual recovery in home building continues. Total starts declined almost 1% in August to a 1.180 million seasonally adjusted annual rate, according to the… Read More ›
NAHB’s analysis of the most recent Census Bureau’s Survey of Construction (SOC) shows that custom home building registered declining market shares across most US regions in 2016. The sharpest drop in the custom home share of new single-family starts took place in the East South Central division, from 35% to 27%. The two exceptions are the Mountain and Pacific divisions… Read More ›
The pace of single-family starts was effectively flat in July, after a strong rate was recorded in June. In contrast, the multifamily market continues to slow after multiple strong years. Total starts declined almost 5% in July to a 1.155 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The headline decline… Read More ›
Total housing starts bounced back in June after a weak May. Total starts increased 8.3% to a 1.215 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Monthly increases were recorded for both single-family and multifamily development. Single-family starts moved forward, increasing to an 849,000 annual rate in June. The February annualized… Read More ›
An elevated market share for new rental multifamily homes is holding typical apartment size below levels seen during the pre-recession period. However, as multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. The recent pattern of change in the size of new multifamily units stands in contrast to the post-recession increase in the size… Read More ›
The number of single-family homes built-for-rent fell slightly at the start of 2017, falling to 6,000 for the quarter. Over the last four quarters, total production of this type of housing was 33,000 homes. 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, as measured on… Read More ›