On the latest episode of NAHB’s Housing Developments podcast, NAHB CEO Jerry Howard and Chief Lobbyist Jim Tobin discuss the latest developments on Capitol Hill, specifically President Biden’s proposed reconciliation package, and the renewed focus on finding long-term solutions to lumber price volatility.
Of the roughly 990,000 single-family homes started in 2020, only 19.3 percent included decks, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).ย This marks the third year in a row the share of new homes with decks has declined, and the first time the share… Read More โบ
Homeownership continues to be a primary driver of household wealth, according to the 2019 Survey of Consumer Finances (SCF). Though homeownership rates increase with age, young households, those under the age of 35, experienced the largest gains for homeownership in 2019. Additionally, the share of young households with home mortgage debt and auto loans increased, while share with education loans… Read More โบ
Property taxes vary widely across states both in terms of annual taxes paid as well as effective tax rates. In 2019, the difference between average real estate taxes paid by New Jersey and Alabama home owners was $7,974. New Jersey continued its perennial distinction as having the highest average real estate tax bill per home owner ($8,687) as well as… Read More โบ
While the housing market is showing signs of stabilizing after a period of cooling, housing affordability will decrease in the quarters ahead. Home prices are up more than 30%, on average nationwide since the start of 2020. And interest rates will rise as the Federal Reserve tightens monetary policy.
