Tag: Eye on Housing
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.
Shortages of Framing Lumber More Widespread than Ever
Shortages of framing lumber are now more widespread than at any time since NAHB began tracking the issue in 1994, according to results from the May 2018 survey for the NAHB/Wells Fargo Housing Market Index.
Expiring Provisions of the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act (TCJA), signed into law at the end of 2017 by President Trump, added 52 temporary provisions to the tax code that will expire between this year and 2027. Nearly half of these expiring tax provisions will lapse at the end of 2025, many of which are of most interest to […]
