Tag: Eye on Housing
Fed Hints at Wait-and-See Approach to 2019 Interest Rates
Federal Reserve officials recently signaled a more data-dependent approach to monetary policy in 2019. NAHB economists forecast a more dovish path for the federal funds rate than many others had predicted earlier this year.
Entry-Level Homes Push Down New Home Size
The size of new single-family homes once again decreased during the third quarter of 2018. New home size has been falling over the last three years as builders add more entry-level home construction into inventory.
Housing Starts Rise in August Amid Ongoing Affordability Concerns
Total housing starts increased 9.2% in August to a seasonally adjusted annual rate of 1.28 million units, according to newly released data from HUD and the Commerce Department.
Shortage of Rough Carpenters Climbs to Record High
Widespread shortages continue to restrain the pace of construction, further driving up construction costs, which largely — for the moment — are being absorbed by the home buyer.
More Builders’ Profits Taking a Hit from Labor Shortages
While the increasing cost of labor is resulting in higher home prices for buyers, a growing number of builders are also feeling the pinch.
Flat Conditions for Some Housing Sectors, but Not All
Market demand remains healthy, with starts up more than 6% thus far in 2018 on a year-to-date basis. And this positive trend is expected to continue.
Most U.S. Homes Built Before the Reagan Administration
As the median age of Americans continues to rise, so too does the age of the nation’s housing stock. Census data reveal the median age of owner-occupied housing has increased to 37 years old.
West Leads Permits Growth; Northeast, Midwest See Declines
The number of single-family permits issued in the first six months of 2018 was 444,600, a 6.3% increase over where the nation was at the end of June 2017, when permits totaled 418,128.
Supply Constraints Hinder Sales and Affordability
A dearth of inventory has resulted in price growth, making prospective home buyers more cautious about a potential purchase.
2.4 Million Millennial-led Households are Missing
Just 40% of young adults led their own household in 2016, and that number has been dropping steadily since 2000 (46%). While all age groups recorded continuous declines of headship rates between 2000 and 2016, none saw a faster drop than the 25-to-34 year olds.
