News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Josh Miller / Eye on Housing / December 2, 2014
NAHB analysis of total private residential construction spending Census data finds that all three components increased in October. Single-family spending increased 1.8%, multifamily spending increased 1.0% and home improvement spending increased 0.6% from revised September estimates.
Total private residential construction spending (all three components combined) increased from the revised September estimate to a seasonally adjusted annual rate of $353.8 billion. On a 3-month moving average basis, from October 2013, the annualized pace of total private residential constructionRead More
Rose Quint / Eye On Housing / November 13, 2014
Firming home prices in markets across the country contributed to a slight dip in nationwide housing affordability in the third quarter of 2014, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 61.8 percent of new and existing homes sold between the beginning of July and the end of September were affordable to families earning the U.S. median income of $63,900. The HOI in the second quarter was 62.6 percent.
The national median home price increased from $214,000 in the second quarter to $221,000 in the third quarter, while average mortgageRead More
Josh Miller / Eye on Housing / September 4, 2014
The latest Census estimate shows significant gains in single-family and multifamily private residential construction spending from one year ago. On a 3-month moving average basis from July 2013, single-family construction spending increased 9.9% and multifamily construction spending increased 38.4%. The current seasonally adjusted annual rate for total private residential construction spending (single-family, multifamily, and home improvements) is $358.1 billion.
Although the home improvement component of residential construction spending is down 2.2% from one yearRead More
Paul Emrath / Eye on Housing / September 5, 2014
Data collected during a 2014 survey allow NAHB to produce, for the first time, summary statistics that describe the typical residential subdivision being built in the United States. The results were recently published as a Special Study in HousingEconomics.com.
For subdivisions of single-family detached homes, the summary statistics are as follows:
- Median size: 22 acres.
- Median number of housing units: 48.
- Median gross density: 2.1 units per acre.
- 4% include retail space.
- 4% include other (non-retail) commercial space.
The data come from a survey sent electronicallyRead More
Robert Dietz / Eye on Housing / August 1, 2014
Despite two consecutive monthly declines, the value of construction spending remains higher than levels recorded a year ago.
For the month of June, Census data indicate that the total value of private residential construction spending (put-in-place) declined 0.3% from May to a seasonally adjusted annualized rate of $356 billion. Single-family spending was down in June by 1.4%, to a $184 billion rate. In contrast, multifamily spending was up 2.5% to a $41.8 billion pace, and improvement spending increased 0.4% to $130 billion.Read More