• Lower Mortgage Rates Push Housing Affordability to Highest Level in Three Years November 7, 2019
    With mortgage rates at a three-year low and a healthy job market, housing affordability rose to its highest level in three years in the third quarter of 2019, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released today. In all, 63.6 percent of new and existing homes sold between […]
  • NAHB Announces Best of 55+ Housing Awards Finalists November 7, 2019
    The National Association of Home Builders (NAHB) announced the finalists for its 2020 Best of 55+ Housing Awards, the premier design and marketing competition for the 55+ housing industry. A total of 107 entries were chosen as finalists and are eligible for either a gold or silver award from NAHB's 55+ Housing Industry Council. “The […]
  • 55+ Housing Market Ticks Back Up to Record High October 31, 2019
    Builder confidence in the single-family 55+ housing market rose one point in the third quarter of 2019, returning to its record-high reading of 72, according to the National Association of Home Builders' (NAHB) 55+ Housing Market Index (HMI) released today. This is the highest reading since the inception of the index in 2008. The 55+ […]
  • NAHB Announces Finalists for Multifamily Awards October 28, 2019
    The National Association of Home Builders’ (NAHB) has announced the finalists for the 2019 Multifamily Pillars of the Industry Awards. A panel of 12 industry experts narrowed the entries down to 74 finalists in 24 categories. Finalists came from more than half the U.S. states, with California, Washington, D.C., and Texas supplying at least seven […]
  • New Home Sales Remain Stable in September October 24, 2019
    Sales of newly built, single-family homes decreased 0.7 percent to a seasonally adjusted annual rate of 701,000 units in September off a downwardly revised reading in August, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. On a year-to-date basis, new home sales for 2019 […]
  • Remodelers’ Confidence Holds Steady in Third Quarter of 2019 October 17, 2019
    The National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) posted a reading of 55 in the third quarter of 2019, remaining stable from the previous quarter. The RMI has been consistently above 50—indicating that more remodelers report market activity is higher compared to the prior quarter than report it is lower—since the second […]
  • Single-Family Housing Starts Hold Firm in September October 17, 2019
    Due to a decline in multifamily housing starts, total housing starts fell 9.4 percent in September to a seasonally adjusted annual rate of 1.26 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department. The September reading of 1.26 million starts is the number of housing units builders would […]
  • Federal Code Mandates Costly and the Wrong Approach to Boost Energy Efficiency October 17, 2019
    The National Association of Home Builders (NAHB) today urged Congress to oppose any federal mandates that require the adoption of more stringent building codes because it would harm housing affordability, prevent healthy competition in the marketplace and may not achieve the intended results. Testifying on behalf of NAHB before the House Select Committee on the […]
  • Builder Confidence Hits 20-Month High October 16, 2019
    Builder confidence in the market for newly-built single-family homes rose three points to 71 in October, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Sentiment levels are at their highest point since February 2018. “The housing rebound that began in the spring continues, supported by low mortgage […]
  • NAHB Second Vice Chairman Chuck Fowke Inducted into Florida Housing Hall of Fame October 4, 2019
    John “Chuck” Fowke, second vice chairman of the National Association of Home Builders (NAHB) and a Tampa, Fla.-based custom home builder, was inducted today into the Florida Housing Hall of Fame by the Florida Home Builders Association (FHBA). Founder and President of John C. Fowke, Inc., Fowke has been active in all three levels of […]
  • Declines in Single-Family Permits Across the Country in September November 15, 2019
    Over the first nine months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 647,244. On a year-over-year (YoY) basis, this is a 2.6% decline over the September 2018 level of 664,665. Year-to-date ending in September, single-family permits reported declines in all four regions. Midwest reported the steepest decline by 6.4%. […]
    Danushka Nanayakkara-Skillington
  • Minority Homeownership Rate Increases in Third Quarter November 15, 2019
    According to a new data release from the Census’ Housing Vacancies and Homeownership Survey (CPS/HVS), the minority homeownership rate posted an increase in the third quarter of 2019 to 48.3 percent, up 0.9 percentage points from the third quarter of 2018 (Figure 1). This year-over-year gain is higher than the gain in the overall U.S. […]
    Carmel Ford
  • Building Materials Prices Hold Steady in October November 14, 2019
    Prices paid for goods used in residential construction held steady in October (not seasonally adjusted) according to the latest Producer Price Index (PPI) released by the Bureau of Labor Statistics. Building materials prices have declined an average of 0.2% per month over the last 12 months, and the price of goods used in residential construction […]
    David Logan
  • Southwest Led GDP Growth in the Second Quarter of 2019 November 14, 2019
    Real gross domestic product (GDP) increased in all 50 states and the District of Columbia, in the second quarter 2019 compared to the previous quarter. The U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 4.7% in Texas to 0.5% in Hawaii. Nationwide, real […]
    Danushka Nanayakkara-Skillington
  • Fixed-Rate Mortgage Activity Shows Upswing November 13, 2019
    The Mortgage Bankers Association’s Weekly Application Survey, for the week ending November 8, 2019, showed a 5% increase in its Purchase Index and 13% increase in its Refinance Index from a week earlier on a seasonally adjusted basis. This increase occurred despite the slight increase in the 30-year fixed mortgage rate to 4.03%, thus reflecting […]
    Litic Murali
  • Consumer Prices Rebound in October November 13, 2019
    The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.4% in October on a seasonally adjusted basis, after being unchanged in September. It was the largest monthly increase in the CPI since March 2019. Excluding the volatile food and energy components, the “core” CPI increased by 0.2% in October, […]
    Jing Fu
  • A Minority of Home Buyers Expect House Search to Get Easier Soon November 12, 2019
    Only 21% of prospective home buyers (people planning a home purchase) expect that finding the right home to buy will get easier in the months ahead, according to NAHB’s Housing Trends Report for the third quarter 2019. That share is slightly better than the 19% who had the same expectation a year earlier. On the […]
    Rose Quint
  • Only 12% of Adults Plan to Buy Home in Next 12 Months November 11, 2019
    Only 12% of adults are considering the purchase of a home within the next 12 months, according to NAHB’s Housing Trends Report for the third quarter of 2019. This share of ‘prospective home buyers’ is essentially unchanged from where it stood a year earlier, at 13%. For the majority of these buyers (60%), this will […]
    Rose Quint
  • Lot Values Hit Record Highs November 11, 2019
    According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, median single-family lot prices outpaced inflation once again (4.4% vs 2.4%) and reached new record high in 2018, with half of the lots selling at or above $49,500. The most dramatic rise in lot values is observed in the West South Central […]
    Natalia Siniavskaia
  • Consumer Credit Increases in Third Quarter Despite Bank Lending Tightening November 8, 2019
    The Federal Reserve’s latest G.19 Consumer Credit Report shows rising trends in consumer credit, excluding loans secured by real estate, through September 2019. In September, consumer credit increased at a seasonally adjusted annual rate of 2.8 percent from the previous month, with revolving debt1 decreasing by 1.2 percent and nonrevolving debt2 increasing by 4.2 percent. […]
    Litic Murali