• HBGI: Small Outlying Counties Have Greatest Share of Most Affordable Markets September 21, 2021
    Housing affordability has been a key driver of the suburban shift of home building activity over the last year and a half. As the following analysis from the NAHB Home Building Geography Index reveals, lower density markets in general have higher housing affordability conditions, which explains the shift in construction activity. The second quarter HBGI […]
    Litic Murali
  • August Housing Starts Lifted by Multifamily Development September 21, 2021
    Total housing starts increased 3.9% in August, due to strength for multifamily development. According to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, single-family starts were down 2.8% for the month, while overall multifamily starts was up 21% in August. The August total starts reading of 1.62 million […]
    Robert Dietz
  • Builder Confidence Steadies as Material and Labor Challenges Persist September 20, 2021
    Builder confidence inched up in September on lower lumber prices and strong housing demand, even as the housing sector continues to grapple with building material supply chain issues and labor challenges. Ending a three-month decline, builder sentiment in the market for newly built single-family homes edged up one point to 76 in September, according to […]
    Robert Dietz
  • July Single-Family Permit Gains September 17, 2021
    Over the first seven months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 681,949. On a year-over-year (YoY) basis, this is a 29.7% increase over the July 2020 level of 525,623. Year-to-date ending in July, single-family permits increased in all four regions. The Northeast region reported the strongest increase of […]
    Danushka Nanayakkara-Skillington
  • Custom Home Building Share Declines September 16, 2021
    According to data from the Census Bureau’s Survey of Construction (SOC), the custom home share decreased to 17.8 percent of all single-family homes started in 2020—the lowest the annual custom home share has been since the 2005 re-design of the SOC.  The custom home market consists of contractor-built and owner-built houses—homes built one at a […]
    Ashok Chaluvadi
  • Mortgage Refinancing Activity Tapers in Latest Month September 15, 2021
    The last four weeks’ mortgage purchasing and refinancing activities, as reflected in the Mortgage Bankers Association’s (MBA) latest weekly application surveys, shows a general withdrawal of refinancing and a very slight increase in purchasing from the prior month. The 30-year fixed-rate mortgage rate hovered 3 basis points above 3 percent, consistently, for the last three […]
    Litic Murali
  • CPI Growth Slows in August September 14, 2021
    In August, consumer prices increased at its slowest pace since February 2021. Prices for several travel-related categories declined in August, as the delta variant spreads. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.3% in August on a seasonally adjusted basis, following an increase of 0.5% in July. […]
    Jing Fu
  • Number of Bathrooms in New Homes September 13, 2021
    The Census Bureau’s latest Survey of Construction (SOC) shows changes in the shares of the number of bathrooms and half-bathrooms of single-family homes started in the United States in 2020. The latest data show that 3% of new single-family homes started had one bathroom or fewer, 65% had 2 bathrooms, 25% had 3 bathrooms, and […]
    Litic Murali
  • Women Make Up 10.9% of the Construction Workforce September 13, 2021
    The number of women employed in the construction industry grew slightly in 2020, rising to around 1.17 million, while the construction industry lost 587,000 jobs in 2020 when the pandemic hit the economy. Currently, women make up a growing share of the construction employment, up to 10.9% in 2020 from 10.3% in 2019. As the […]
    Na Zhao
  • Price Index for Inputs to Residential Construction Declines in August September 13, 2021
    Prices paid for goods used in residential construction ex-energy decreased 0.7% in August (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The decrease was largely driven by a decline in lumber and wood products prices and was the first monthly decline since the start of […]
    David Logan