Data & Forecasts

Millennial Buyers’ Willingness to Pay for Green Features

Millennials Willing to Pay for Green in 2020?

Results from NAHB’s report, What Home Buyers Really Want (2019 Edition), show that Millennials want an environment-friendly home, but few are willing to pay more for it for that reason alone. They are, however, willing to pay for certain green features, such as those that provide energy efficiency and cost saving benefits over time. When asked…

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Builders’ and Remodelers’ Use of Technology in 2019

According to a recent NAHB study, although use of some factory-produced components like trusses has become widespread, the newer and more innovative types of construction technology, such as 3D printing and robots, have so far penetrated the residential market only to a very limited extent.  This is true for both single-family builders and residential remodelers. Data…

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Basements Continue to Fall out of Favor

NAHB analysis of the Survey of Construction (SOC) shows that 60.1% of all new single-family started in 2018 were built on slab foundations, followed by 24.3% with a full/partial basement, and 14.3% with a crawl space. The gap between slab and full/partial basement foundation adoption rates is growing: the share of new homes built on…

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Property Taxes Account for 40 Percent of State and Local Tax Revenue in Q1 2019

NAHB analysis of the Census Bureau’s quarterly tax data shows that $594 billion in taxes were paid by property owners over the four quarters ending in Q1 2019.[1] It has been seven years since four-quarter property tax revenues declined. After accelerating in the third and fourth quarters of 2017, the four-quarter growth rate of property tax…

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Economic Forecast – October 2019

NAHB chief economist Dr. Robert Dietz addressed the NAHB membership at the recent NAHB Fall Leadership Council in New Orleans. His presentation, “The Housing Affordability Crunch and Rebound” is available for all HBA members to review. Below are a few samples. Click any of the images below or click here for a pdf of the…

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AD&C Loan Volume Contracts

Despite broader interest rate declines for government bonds and mortgages, NAHB industry survey data for the second quarter of 2019 indicates that interest rates for acquisition, development and construction (AD&C) remain stubbornly elevated. For example, loans for spec single-family home building averaged a 6.2% rate for the second quarter. These higher interest rates have caused the volume…

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Minority Homeownership Rate Continues to Decline

The minority homeownership rate declined again in the second quarter of 2019, edging down to 46.9 percent from 47.4 percent in the second quarter of 2018. This is its lowest level since the third quarter of 2017. The most recent release of the US Census’ Housing Vacancies and Homeownership Survey (CPS/HVS)also shows that the overall U.S.…

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263,000 Jobs Added in April

Total nonfarm payroll employment increased by 263,000 in April, while the unemployment rate declined to 3.6%. Residential construction employment increased by 600 in April, after the increase of 11,200 jobs in March. The total construction industry (both residential and nonresidential) gained 33,000 jobs in April. According to the Employment Situation Summary for April, released by the Bureau…

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Builder Confidence Posts Solid Gain in May

Builder confidence in the market for newly-built single-family homes rose three points to 66 in May, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder sentiment is at its highest level since October 2018 after declines in late 2018 due to higher interest rates and concerns over slower growth.…

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EPA Announces Results of Lead Paint Enforcement Initiative

EPA Announces Results of Lead Paint Enforcement Initiative in New Hampshire and Maine In 2018, EPA conducted a targeted lead paint compliance initiative in coastal New Hampshire and Maine communities. EPA distributed outreach materials to renovation firms then completed 59 lead paint inspections, resulting in at least four enforcement action. EPA also saw an increase in firms…

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How Does Your Business Measure Up?

Nobody likes to operate in a vacuum, but in a competitive industry such as home building, it can be very difficult to determine how your business measures up to your competitors. Industry benchmarks on profit margins, asset levels and equity positions are important because they allow businesses to compare their performance to their peers, and…

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13% of Adults Plan to Buy a House in Next 12 Months

According to the Housing Trends Report (HTR)* for the third quarter of 2018, only 13% of adults are planning to purchase a home in the next 12 months.  Most of these prospective buyers (58%) report this is the first time in their lives they would be buying a home. Planning to Buy a Home in Next 12…

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Single-Family Permits: Declines in the Midwest and Northeast

Over the first nine months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 664,665. On a year-over-year basis, this is a 5.7% increase over the September 2017 level of 628,858. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first nine months of 2018 was, 663,800 which…

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Community Associations Continue to Rise

According to data from the Census Bureau’s Survey of Construction (SOC), 60.7 percent of all homes started in 2017 were built within a community or homeowner’s association. The Census Bureau defines community or homeowner’s associations as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions; these organizations are usually…

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