Tuesday November 24th, 2020 01:31:35 PM Robert Dietz
According to NAHB analysis of quarterly Census data, the market share of rental units of total multifamily construction starts remained at 96% during the third quarter of 2020. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An average share of 80% was registered during the 1980-2002 period…. Read More ›
The post Multifamily Built-for-Rent Share: 96% first appeared on Eye On Housing.
Tuesday November 24th, 2020 01:15:30 PM Paul Emrath
Of the roughly 879,000 single-family homes started in 2019, 59.6 percent included patios, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD). Once again, this set a new record high (NAHB began tracking the series in 2005), and once again the record was set by a… Read More ›
The post Share of New Homes with Patios Continues to Edge Up first appeared on Eye On Housing.
NAHB analysis of the Survey of Construction (SOC) shows that 63.2% of all new single-family started in 2019 were built on slab foundations, followed by 22.6% with a full/partial basement and 13.0% with a crawl space. The gap between slab and full/partial basement foundation adoption rates is growing: the share of new homes built on slabs steadily increased from 46.0%… Read More ›
The post Slab Foundations Are More Common in New Single-family Homes first appeared on Eye On Housing.
Monday November 23rd, 2020 01:44:47 PM Robert Dietz
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building lagged the overall single-family construction market in the third quarter of 2020. There were 52,000 total custom building starts during the third quarter, a 7% decline compared to the third quarter of 2019. Over the last four quarters, custom housing starts totaled… Read More ›
The post Custom Home Building: 3Q20 Data first appeared on Eye On Housing.
Friday November 20th, 2020 02:00:25 PM Danushka Nanayakkara-Skillington
A majority of new homes that completed construction in 2019 included two-car garages (65%), according to NAHB analysis of 2019 Census Bureau Survey of Construction data. There is clear uniformity for parking options in new homes completed across the Census divisions: the 2-car garage was the most popular parking option for completed homes in all divisions. The option for three or… Read More ›
The post Garages in New Homes: 2019 Data first appeared on Eye On Housing.
Friday November 20th, 2020 01:35:13 PM Robert Dietz
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction declined during the third quarter. As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction has lagged. During the third quarter of 2020, single-family attached starts totaled 31,000, which was 3% lower than the… Read More ›
The post Townhouse Construction Decline Continues first appeared on Eye On Housing.
Thursday November 19th, 2020 07:00:49 PM Fan-Yu Kuo
Fueled by record-low mortgage rates and strong demand, existing home sales, as reported by the National Association of Realtors (NAR), rose for a fifth consecutive month in October and reached its highest level in almost 15 years. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 4.3% to a seasonally adjusted annual rate of 6.85 million in… Read More ›
The post Existing Home Sales Continue Upward Trend first appeared on Eye On Housing.
For the week ending November 14, weekly initial jobless claims rose for the first time since early October. Continuing claims, which lag initial jobless claims by one week, continued a downward trend for the week ending November 7. The labor market has been recovering from the COVID-19 pandemic gradually for the past seven months. Looking forward, the path to recovery… Read More ›
The post Jobless Claims Rise After Four Consecutive Declines first appeared on Eye On Housing.
Thursday November 19th, 2020 03:05:49 PM Carmel Ford
Confidence in the multifamily housing market continued to recover from its 1st quarter trough, with the Multifamily Production Index (MPI) rising to 48 in the third quarter (up from 37 in the second quarter and 27 in the first quarter), according to the National Association of Homebuilders’ Multifamily Market Survey (MMS) (Figure 1). Meanwhile, the Multifamily Vacancy Index (MVI) decreased… Read More ›
The post Multifamily Market Sentiment Improves in the Third Quarter first appeared on Eye On Housing.
Thursday November 19th, 2020 01:31:32 PM Robert Dietz
An expected impact of the virus crisis is a need for more space, as people use their homes for more purposes. And while this measure has not increased significantly yet, new home size appears to be leveling off after years of decline. According to third quarter 2020 data from the Census Quarterly Starts and Completions by Purpose and Design and… Read More ›
The post New Single-Family Home Size Leveling Off Before Rising first appeared on Eye On Housing.
Home Deport reported sales growth that missed Wall Street’s forecasts. The company specifically cited a ‘slow start’ to spring as a problem. Bad weather did hurt sales. But rising mortgage rates might be a bigger problem going forward.