NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.3% in January after an increase of 2.2% in December 2021. Spending stood at a seasonally adjusted annual rate of $829.4 billion. Total private residential construction spending was 13.4% higher than a year ago. These monthly gains are attributed to the strong growth of spending… Read More ›

Residential construction loan volume reached a post-Great Recession high during the fourth quarter of 2021, as home building activity posted gains for the year. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased 1% during the fourth quarter. The volume of loans increased by $977 million on a quarterly basis. This loan volume expansion placed the… Read More ›

Per NAHB’s latest Home Building Geography Index (HBGI), through the second half of 2021, multifamily home building rebounded from quarterly declines that began at the outset of the pandemic. In the wake of the public health crisis, there was a pronounced return to higher density markets or geographies, particularly in apartment and other multifamily residential construction. Comparing the regional geographies’… Read More ›

Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the third quarter of 2021 due to strong demand and low vacancy rates. The absorption rate of unfurnished, unsubsidized apartments (the share rented out in the first three months following completion) surged by 25 percentage points to… Read More ›