The National Association of Home Builders

Private Residential Spending Rises Modestly in April

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.0% in April to a seasonally adjusted annual rate of $729.2 billion. Total private residential construction spending...

The Aging Housing Stock

The median age of owner-occupied homes is 39 years, according to the latest data from the 2019 American Community Survey. Compared to a median age of 31 years in 2005, the U.S....

Builders Report 26 Percent Increase in Material Prices

A post published last week discussed how record numbers of builders were reporting on broad-based shortages of building materials and products.  The source of the information was the May survey for the NAHB/Wells Fargo Housing...

March Gains for Private Residential Spending

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.7% in March to a seasonally adjusted annual rate of $725.3 billion. Total private residential construction spending...

Second Homes: 15 Percent of New Home Sales

Last week’s post reported on first-time home buyers from the February survey for the NAHB/Wells Fargo Housing Market Index (HMI).   According to the same source, second homes (i.e., homes sold to buyers who are not going...

Private Residential Spending Hits Record High

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 2.5% in January to a seasonally adjusted annual rate of $713 billion, reaching a record high. Total...

Nearly 90 Percent of Builders Have Trouble Getting Appliances

In the survey results described in one of last week’s posts, prices of building material ranked as the number one problem among NAHB’s single-family builders, and availability of building materials ranked second.  These concerns are not surprising,...

Private Residential Spending Up 3.1% in December

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 3.1% in December 2020 to a seasonally adjusted annual rate of $691.0 billion. Total private residential construction...

Gains for Housing Share of GDP

Housing has staged a dramatic turnaround since the Spring of 2020. Due to low mortgage interest rates, a renewed focus on the importance of home, an evolving geography of housing demand, and a lack of...

Housing Starts End Strong

Total housing starts posted a 5.8 percent increase in December (1.67 million units) compared to an upwardly revised November estimate of 1.58 million units according to the joint data release from the Census Bureau...

Private Residential Spending Is on the Rise

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 2.7% in November to a seasonally adjusted annual rate of $658.1 billion. Total private residential construction spending...

Second Home Markets Show Construction Growth

For the third quarter of 2020, NAHB’s Home Building Geography Index (HBGI) found construction gains for traditional second home markets. High-concentration second home counties were defined based on the proportion of the...

Custom Home Building Annual Share Increases

According to data from the Census Bureau’s Survey of Construction (SOC), the custom home share increased to 20.2 percent of all single-family homes started in 2019. Contractor-built or owner-built houses – that together make...

Single-Family Starts: Best Pace Since Spring of 2007

Single-family starts experienced continued gains in October, according to data from the U.S. Department of Housing and Urban Development and the Census Bureau. Single-family construction is up 8.6% year-to-date, with notable gains...

Custom Home Building Lags in Third Quarter 2020

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...

Robust Gains for August Single-Family Permits

Over the first eight months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 616,856. On a year-over-year (YoY) basis, this is an 6.9% increase over the August 2019 level of 576,798.  ...

New Homes Account for 3.7% of the US Energy Consumption

The residential sector, including single-family, multifamily, and manufactured housing, accounts for about 21.2% of the US energy consumption, according to the 2020 Energy Information Administration’s (EIA) Annual Energy Review. New homes built since 2000...