Economics

Single-Family Construction Continues to Make Steady Gains in October

Filed in Economics by on November 19, 2019 0 Comments
Single-Family Construction Continues to Make Steady Gains in October

Total housing starts increased 3.8 percent in October to a seasonally adjusted annual rate of 1.31 units, according to a report from the U.S. Housing and Urban Development and Commerce Department.

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Builder Confidence Holds Firm in November

Filed in Economics by on November 18, 2019 0 Comments
Builder Confidence Holds Firm in November

Builder confidence in the market for newly built single-family homes edged one point lower to 70 in November, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released today. The past two months mark the highest sentiment levels in 2019.

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Millennials Most Likely Generation to Consider Buying a Home Within the Next Year

Filed in Economics, Homeownership, Housing Trends by on November 14, 2019 3 Comments
Millennials Most Likely Generation to Consider Buying a Home Within the Next Year

Only 12% of adults are considering the purchase of a home within the next 12 months, according to NAHB’s Housing Trends Report for the third quarter of 2019. This share of prospective home buyers is essentially unchanged from where it stood a year earlier, at 13%.

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Lot Values Hit Record Highs

Filed in Economics, Home Building, Housing Trends, Land Development by on November 12, 2019 5 Comments
Lot Values Hit Record Highs

Median single-family lot prices in 2018 outpaced inflation (4.4% vs 2.4%) and reached a new record high, with half of the lots selling at or above $49,500, according to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data.

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Top Bathroom Features Among Millennial Home Buyers

Filed in Economics, Housing Trends by on November 8, 2019 7 Comments
Top Bathroom Features Among Millennial Home Buyers

A recent report published by NAHB reveals the top bathroom features wanted by millennials. The study also reveals a wide disparity between millennials and seniors regarding certain bathroom amenities.

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Lower Mortgage Rates Push Housing Affordability to Highest Level in Three Years

Filed in Affordability, Economics by on November 7, 2019 0 Comments
Lower Mortgage Rates Push Housing Affordability to Highest Level in Three Years

With mortgage rates at a three-year low and a healthy job market, housing affordability rose to its highest level in three years in the third quarter of 2019, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI) released today.

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55+ Housing Market Ticks Back Up to Record High

Filed in Economics, Multifamily by on October 31, 2019 0 Comments
55+ Housing Market Ticks Back Up to Record High

Builder confidence in the single-family 55+ housing market rose one point in the third quarter of 2019, returning to its record-high reading of 72, according to NAHB’s 55+ Housing Market Index (HMI) released today. This is the highest reading since the inception of the index in 2008.

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Builders are Stuck on Stucco in the West, In Tune with Vinyl in the Northeast

Filed in Economics, Housing Trends by on October 25, 2019 1 Comment
Builders are Stuck on Stucco in the West, In Tune with Vinyl in the Northeast

The most common exterior wall materials on homes started in 2018 were vinyl siding and stucco, according to data from the Census Bureau’s Survey of Construction (SOC). Vinyl siding and stucco were each used on 26% of new homes started in 2018, followed closely by brick or brick veneer at 21% and fiber cement siding (such as Hardiplank or Hardiboard) at 20%.

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New Home Sales Remain Stable in September

Filed in Economics by on October 24, 2019 0 Comments
New Home Sales Remain Stable in September

Sales of newly built, single-family homes decreased 0.7% to a seasonally adjusted annual rate of 701,000 units in September off a downwardly revised reading in August, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. On a year-to-date basis, new home sales for 2019 are 7.2% higher than the same period in 2018.

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Remodelers’ Confidence Holds Steady in Third Quarter

Filed in Economics, Remodelers by on October 17, 2019 0 Comments
Remodelers’ Confidence Holds Steady in Third Quarter

NAHB’s Remodeling Market Index (RMI) posted a reading of 55 in the third quarter of 2019, remaining stable from the previous quarter.

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