Housing Trends

Housing Affordability Down Due to Economic Losses Stemming from COVID-19 Pandemic

Housing Affordability Down Due to Economic Losses Stemming from COVID-19 Pandemic

Surging job losses in March stemming from the COVID-19 pandemic contributed to a decline in U.S. median income and housing affordability in the first quarter of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released today.

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Home Buyers Bearish on Affordability

Home Buyers Bearish on Affordability

While home buyers report slightly more optimistic expectations for future housing availability in the first quarter of 2020, there is no commensurate improvement in their outlook for affordability. In fact, 78% say they can afford fewer than half the homes available in their markets.

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NAHB Expects 10% Unemployment Rate at Year-End

Filed in Disaster Response, Economics, Housing Trends by on May 1, 2020 0 Comments
NAHB Expects 10% Unemployment Rate at Year-End

Incoming macroeconomic data detail the economic damage the shutdown of the U.S. economy is having on households and businesses. Moves to gradually open up parts of the economy are responsible for a recent lifting of economic spirits and gains for the stock market itself. While risks remain — particularly of a W-shaped recovery that features recurring regional outbreaks of the virus — once markets get past the April and May data, an improved outlook should be on the horizon.

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Builders Employ Several Strategies to Keep Selling Homes During Pandemic

Builders Employ Several Strategies to Keep Selling Homes During Pandemic

A recent survey of NAHB members reveals they are implementing several measures to allow them to continue selling homes during the coronavirus pandemic. The most common strategy is private showings of model homes, with 59% of builders saying they doing this already or planning to in the near future.

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Top Features First-Time Home Buyers Want

Top Features First-Time Home Buyers Want

If first-time buyers had to choose (for the same amount of money) between a smaller house with high quality products/amenities and a bigger house with fewer amenities, 62% would opt for the former.  In other words, after about 2,000 square feet of space, most first-time buyers will derive more value from quality amenities than from size.

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Most Likely – And Unlikely – Features in a New Single-Family Home

Filed in Economics, Home Building, Housing Trends by on April 7, 2020 2 Comments
Most Likely – And Unlikely – Features in a New Single-Family Home

Nationwide survey reveals the most likely — and unlikely — features builders will include in the typical home they will build in 2020.

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Which States are Most Reliant on Immigrant Construction Workers?

Which States are Most Reliant on Immigrant Construction Workers?

Foreign-born workers now account for almost a quarter of workers in the construction industry, and close to 30% of construction tradesmen. In some states, reliance on foreign-born labor is even more pronounced.

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An Economic Update from NAHB’s Chief Economist

An Economic Update from NAHB’s Chief Economist

NAHB chief economist is forecasting an economic downturn in the second and third quarters. If social distancing and virus mitigation efforts are effective, the economy should begin the process of rebounding shortly thereafter.

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A Red-Blue Divide on Home Construction

Filed in Economics, Home Building, Housing Trends by on March 3, 2020 3 Comments
A Red-Blue Divide on Home Construction

Nearly two-thirds of multifamily construction in the fourth quarter of 2019 occurred in “blue counties” where Hillary Clinton garnered the most votes in the 2016 election, while nearly the same percentage of single-family home building took place in “red counties” where President Trump won. And momentum for continued single-family and multifamily construction continues in the red counties, according to the latest quarterly NAHB Home Building Geography Index (HBGI).

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Award-Winning Designs for Aging-in-Place Clients

Filed in Awards, Design, Housing Trends, Remodelers by on February 25, 2020 0 Comments
Award-Winning Designs for Aging-in-Place Clients

NAHB Remodelers recently announced the winners of its annual Homes for Life awards. The awards recognize exceptional remodeling projects that effectively incorporate aging-in-place and universal design.

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