Trends

Suburban Shift for Home Construction Continues into Third Quarter

Filed in Economics, Trends by on December 1, 2020 0 Comments
Suburban Shift for Home Construction Continues into Third Quarter

A trend of higher demand for housing in lower-density areas reported in the second quarter NAHB Home Building Geography Index (HBGI) has persisted into the fall, as single-family and multifamily construction continued to overperform in lower cost markets like suburbs and exurbs.

Continue Reading »

Home Owners Shift Expenses from Entertainment to Home Improvement

Filed in Economics, Remodeling, Trends by on November 23, 2020 0 Comments
Home Owners Shift Expenses from Entertainment to Home Improvement

HomeAdvisor’s latest “State of Home Spending” survey revealed that home owners spent an average of $13,138 on home-improvement projects in 2020, compared to $9,081 in 2019.

Continue Reading »

Some Buyers Perceive an Uptick in Affordability

Filed in Economics, Housing Affordability, Trends by on November 10, 2020 1 Comment
Some Buyers Perceive an Uptick in Affordability

The Housing Trends Report for the third quarter of 2020 shows that 27% of buyers report being able to afford half or more of the homes for sale in their markets. A year earlier, the share was 20%.

Continue Reading »

Construction Wages Top the National Average

Filed in Economics, Trends by on November 9, 2020 0 Comments
Construction Wages Top the National Average

Half of payroll workers in construction earn more than $49,030 and the top 25% make at least $68,690, according to the 2019 Bureau of Labor Statistics Occupational Employment Statistics (OES) Survey data and analysis by NAHB. In comparison, the U.S. median wage is $39,810, while the top quartile (top 25%) makes at least $64,240.

Continue Reading »

Lack of Inventory, Higher Prices Push Housing Affordability Near Two-Year Low

Filed in Economics, Trends by on November 5, 2020 1 Comment
Lack of Inventory, Higher Prices Push Housing Affordability Near Two-Year Low

Record-low mortgage rates were not enough to offset inventory shortages and rising home prices as housing affordability continued to decline in the third quarter of 2020, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI) released today.

Continue Reading »

Low Mortgage Rates Converting More Passive Buyers into Active Buyers

Filed in Economics, Trends by on November 3, 2020 0 Comments
Low Mortgage Rates Converting More Passive Buyers into Active Buyers

NAHB’s most recent Housing Trends Report finds that, of the 13% of American adults considering a future home purchase in the third quarter of 2020, 50% have moved beyond planning and are actively trying to find one to buy — compared to 44% a year ago.

Continue Reading »

Expectations for Housing Availability Improve

Filed in Economics, Trends by on October 27, 2020 1 Comment
Expectations for Housing Availability Improve

More than one-in-four prospective buyers (28%) in the third quarter of 2020 expect their search for a home to become easier in the months ahead, while 61% percent expect it will be harder or stay the same, according to the latest Housing Trends Report.

Continue Reading »

Home Buying Interest Increases Amid COVID-19

Filed in Disaster Response, Economics, Trends by on October 23, 2020 3 Comments
Home Buying Interest Increases Amid COVID-19

According to data from NAHB’s latest Housing Trends Report, in the third quarter of 2020, the share of Americans who are considering purchasing a home in the next 12 months increased one percentage point over last year — the first year-over-year gain in the three-year history of this series.

Continue Reading »

Is Single-Family Built-for-Rent the Future of Rental Housing?

Filed in Economics, Multifamily, Trends by on October 22, 2020 2 Comments
Is Single-Family Built-for-Rent the Future of Rental Housing?

Although a small segment within the overall housing industry, single-family built-for-rent has growth opportunity in the wake of the COVID-19 pandemic as various demographics seek out lower-density areas and living spaces, while also providing the flexibility of renting.

Continue Reading »

Lot Values Down in 2019

Filed in Economics, Land Development, Trends by on October 19, 2020 0 Comments
Lot Values Down in 2019

Median single-family lot prices came down in 2019, breaking their relentless climb for the first time since 2013, according to NAHB’s analysis of the Census Bureau’s Survey of Construction data, The 2019 median lot price was $45,000, which amounts to a 9% decline since 2018, when half of the lots were selling at or above $49,500.

Continue Reading »