• Builder Confidence Continues Record Climb October 19, 2020
    In a further show of strength for the housing sector, builder confidence in the market for newly-built single-family homes increased two points to 85 in October, further surpassing the previous all-time high of 83 recorded in September, according to the latest NAHB/Wells Fargo Housing Market Index (HMI). These are the first two months the index […]
    Robert Dietz
  • Lot Values Down in 2019 October 19, 2020
    According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, median single-family lot prices came down in 2019, breaking their relentless climb for the first time since 2013. 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 […]
    Natalia Siniavskaia
  • Nation’s Stock of Second Homes October 16, 2020
    According to NAHB estimates, the total count of second homes was 7.5 million, accounting for 5.5% of the total housing stock in 2018, the most recent data available. As of 2018, the state with the largest stock of second homes was Florida (1.1 million), accounting for 14.5% of all second homes. South Dakota had the […]
    Na Zhao
  • Robust Gains for August Single-Family Permits October 16, 2020
    Over the first eight months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 616,856. On a year-over-year (YoY) basis, this is an 6.9% increase over the August 2019 level of 576,798. Year-to-date ending in August, single-family permits across the four regions ranged from an increase of 9.8% in the South to a decline […]
    Danushka Nanayakkara-Skillington
  • Most Teleworkers Expect to Continue At Home, Even After COVID Vaccine October 16, 2020
    About 3 out of every 10 American adults are currently working from home, on a full- or part-time basis. The finding comes from a recent poll of a representative sample of over 17,000 adults conducted for NAHB by Morning Consult. Gen Z’s made up 12% of respondents, Millennials and Gen X’ers were each 26%, and […]
    Rose Quint
  • Over 90% of East South Central New Homes Have Porches October 15, 2020
    Of the single-family homes started in 2019, 64.7 percent came with porches, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau with partial funding from the Department of Housing and Urban Development). Historically, the SOC shows the share of single-family homes with porches increasing regularly to a high of 65.7 percent in […]
    Paul Emrath
  • Continuing Claims Continue to Decline October 15, 2020
    According to the Unemployment Insurance Weekly Claims Report released by the U.S. Department of Labor today, weekly initial jobless claims increased for the week ending October 10, while continuing claims, which lag initial jobless claims by one week, fell for the week ending October 3. Labor market continues to struggle to recover from the COVID-19 […]
    Jing Fu
  • Remodeling Industry Confidence Surges in Third Quarter October 15, 2020
    The National Association of Home Builders’ Remodeling Market Index (RMI) posted a reading of 82 in the third quarter, indicating remodelers’ strong confidence in their markets, for projects of all sizes (Table 1). The strong RMI reading is a reflection of more Americans investing in home remodeling projects as they adapt to the impacts of […]
    Carmel Ford
  • Home Building: Sales Outpacing Starts by a Historic Margin October 15, 2020
    After a sharp decline in the spring, home building has staged a dramatic rebound. In fact, supported by low mortgage rates, an evolving geography of housing preferences, and favorable demographic tailwinds, housing demand has improved so quickly that the current difference between the pace of newly-built single-family home sales and for-sale single-family construction starts has […]
    Robert Dietz
  • Softwood Lumber Prices Surge a Record 29% in September — Building Materials Up 4.4% in 2020 October 14, 2020
    Prices paid for goods used in residential construction climbed 1.8% in September (not seasonally adjusted) according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy (i.e. the “core”)—a less volatile price measure—increased 2.2% over the month. The core […]
    David Logan