Economics

Sales are Outpacing Starts by a Historic Margin

Filed in Economics by on October 16, 2020 0 Comments
Sales are Outpacing Starts by a Historic Margin

The home building industry has made a quick and dramatic comeback in the wake of the COVID-induced economic downturn. Housing demand has increased so rapidly in recent months that there is now an unprecedented gap between the number of new single-family home sales and the pace of construction starts.

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Lumber Prices Trending Downward from Mid-September Peak but Still High

Filed in Advocacy, Economics, Trade, Trends by on October 16, 2020 10 Comments
Lumber Prices Trending Downward from Mid-September Peak but Still High

Framing lumber prices peaked above $950 per thousand board feet in mid-September, according to Random Lengths, and have been on a slow, downward trajectory since then. For the week ending Oct. 16, prices stood above $750 per thousand board feet, down nearly $200 since their all-time high last month.

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Market Share of Offsite Housing in 2019

Filed in Trends by on October 16, 2020 0 Comments
Market Share of Offsite Housing in 2019

According the U.S. Census Bureau data and NAHB’s analysis, the share of non-site built single-family homes declined to 3% of single-family completions in 2019. However, this percentage is expected to rise moderately in 2020 and in the years ahead.

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Remodeling Industry Confidence Surges in Third Quarter

Filed in Economics by on October 15, 2020 7 Comments
Remodeling Industry Confidence Surges in Third Quarter

NAHB’s third quarter Remodeling Market Index (RMI) released today posted a reading of 82, signaling residential remodelers’ strong confidence in their markets for projects of all sizes.

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Regional Variations on Most Popular Exterior Wall Materials

Filed in Design, Economics, Trends by on October 8, 2020 1 Comment
Regional Variations on Most Popular Exterior Wall Materials

What were the most popular exterior wall materials on homes started in 2019? Four types of materials dominate but there are large regional differences.

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Median Single-Family Lot Size Hits Record Low

Filed in Economics, Trends by on October 7, 2020 0 Comments
Median Single-Family Lot Size Hits Record Low

The median lot size for new single-family detached homes that were sold in 2019 dropped to a record-low 8,177 square feet, down 390 square feet since 2018, according to the latest figures from the Census Bureau.

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Housing Shines Amid Economic Rebound

Filed in Economics by on October 2, 2020 2 Comments
Housing Shines Amid Economic Rebound

NAHB’s chief economist lists further evidence of why housing was a bright spot for the economy, most notably as single-family new home sales climbed 4.8% to a 1.01 million seasonally adjusted annual rate — the highest pace since 2006.

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How Long Does it Take to Build a Single-Family Home?

Filed in Economics, Trends by on September 30, 2020 9 Comments
How Long Does it Take to Build a Single-Family Home?

The average completion time of a single-family house is around 8.1 months, which usually includes a little over a month from authorization to start and another seven months to finish the construction, according to the 2019 Survey of Construction (SOC) from the Census Bureau.

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New Home Sales at Highest Pace Since Sept. 2006

Filed in Economics by on September 24, 2020 2 Comments
New Home Sales at Highest Pace Since Sept. 2006

In another indicator that housing continues to lead the economy forward, sales of newly built, single-family homes in August topped the 1 million mark and reached their highest pace since September 2006. Sales increased 4.8% to a seasonally adjusted annual rate of 1.01 million units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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Forgivable PPP Loans May be Taxable in Some States

Filed in Economics, Tax Reform by on September 21, 2020 0 Comments
Forgivable PPP Loans May be Taxable in Some States

Businesses who received loans under the Payroll Protection Program (PPP) may be eligible to have that loan forgiven, which may result in unforeseen tax consequences.  The federal Internal Revenue Code generally treats forgiven debt as taxable income; fortunately, Congress has excluded forgiven PPP loans from federal taxable income. However, as noted in a recent blog post by the Small Business Administration, that income may still be treated as taxable by your state.

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