According to the latest What Home Buyers Really Want*, 60% of home buyers would prefer a newly-built home over an existing home. In other words, all else equal, their first preference would be...
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...
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...
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,...
For 2020, the total number of single-family permits issued year-to-date (YTD) reached 977,863 nationwide. On a year-over-year (YoY) basis, this is a 14.5% increase over the December 2019 level of 854,158. Year-to-date ending in...
Prices paid for goods used in residential construction ex-energy rose 2.1% in January (not seasonally adjusted) and have increased 6.8% over the past 12 months, according to the latest Producer Price Index...
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...
According to NAHB’s latest Housing Trends Report, 15% of adults were considering a home purchase in the fourth quarter of 2020, up from 11% a year earlier. Further analysis reveals a significant shift...
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...
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...
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...
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...
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 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...
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...
NAHB Economics analysis of the Survey of Construction (SOC) data shows that about 9% of new single-family homes started in 2019 were served by individual wells and almost 17% have private septic...
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $610.9 billion in September. It was up 2.8% over the August...
Housing has staged a dramatic turnaround since the spring. Due to low mortgage interest rates, a renewed focus on the importance of home, an evolving geography of housing demand, and a lack of for-sale...
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 2.71 percent in 2019, down slightly from...
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. ...
According to NAHB estimates, the total count of second homes was 7.5 million, accounting for 5.5% of the total housing stock in 2018, the most recent data available. As of 2018, the...
The National Association of Home Builders’ Remodeling Market Index (RMI) posted a reading of 82 in the third quarter, indicating remodelers’ strong confidence in their markets, for projects of all sizes (Table...
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $589.4 billion in August. It was up 3.7% over the upwardly...
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...
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $546.6 billion in July. It was up 2.0% this...
In a sign that housing continues to lead the economy forward, builder confidence in the market for newly-built single-family homes increased six points to 78 in August, according to the latest National...
New single-family home size trended lower during the second quarter 2020 at the beginning of what we are forecasting will be a pivot to larger home size over the next two years....
Single-family housing permits and starts expanded in July as housing demand and construction remains a bright spot for the overall economy. Demand is being supported by low interest rates and a renewed...
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building performed better than the overall building market during the challenging second quarter of...
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction declined during a challenging second quarter. The sector was also relatively weaker than...