The 2022 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 9.6 months, including a little over a month from authorization to start and another 8.3 months to finish the construction. This is almost one month and a half longer than the average completion time in 2021, reflecting supply-side… Read More ›
A lack of existing inventory coupled with solid consumer demand helped to boost new home sales in May to their highest level since February 2022. Sales of newly built, single-family homes in May increased 12.2% to a 763,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census… Read More ›
The failure of several banks in 2023 and the ensuing stress in U.S. financial markets have had an effect that some builders and developers are beginning to notice, according to two recent NAHB surveys. In one of the surveys, roughly three-in-five builders and developers reported that loans for land acquisition, land development and speculative single-family construction have become more difficult… Read More ›
In a previous blog post, NAHB analyzed the national data released by BUILDER Magazine. Earlier this month, BUILDER Magazine also released Local Leaders data on the top 10 builders in the top 50 largest new-home markets in the U.S. (ranking determined by the number of single-family permits) (Figure 1). The 2022 data shows that the top 10 builders in each… Read More ›
Solid demand, a lack of existing inventory and improving supply chain efficiency helped shift builder confidence into positive territory for the first time in 11 months. Builder confidence in the market for newly built single-family homes in June rose five points to 55, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This marks the… Read More ›
Over the first four months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 268,205. On a year-over-year (YoY) basis, this is 29.0% below the April 2022 level of 377,713. Year-to-date ending in April, single-family permits declined in all four regions. The Northeast posted the lowest decline of 17.6%, while the West region reported the steepest… Read More ›
