Multifamily Built-for-Rent Share Remains Elevated

An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. If multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily residences is likely to rise. However, recent trends suggest continued low levels of condo construction ahead. According to […]

New Home Sales Post Solid Numbers in April

After an upward revision, March and April newly-built single-family homes sales data indicate that lower mortgage rates and price incentives increased the volume of transactions as the spring home buying season stabilized after weakness in late 2018. Contracts for new, single-family home sales declined to a 673,000 seasonally adjusted annual rate according to estimates from […]

Confidence in Apartment and Condo Housing Sectors Weakens in the First Quarter

Builder and developer confidence in the multifamily market weakened in the first quarter of 2019, according to results from the National Association of Home Builders’ (NAHB) Multifamily Market Survey (MMS). The MMS consists of two indices: the Multifamily Production Index (MPI) and the Multifamily Vacancy Index (MVI). The MPI, which measures builder and developer sentiment […]

Many Remodelers Are Now Creating ADUs

Despite some recent improvement, household formations have been lagging since the latest downturn.  The consequences have been many—including a lower rate of housing production, a lower rate of replacing older housing units, a therefore aging housing stock, and increased doubling up.  Remodeling is also potentially affected, as the tendency to double up may be accommodated […]

Existing Home Sales Slightly Down in April

Following a sharp decline in March, existing home sales, released by the National Association of Realtors (NAR), continued to fell in April despite lower interest rates and a strong labor market. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, declined 0.4% to a seasonally adjusted annual rate of 5.19 million in April. On […]

New Single-Family Home Size: First Quarter 2019 Data

New single-family home size increased slightly at the start of 2019, as the market slowed. According to first quarter 2019 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area ticked up to 2,355 square feet. Average (mean) square footage for new single-family homes increased […]

Curb-less Showers Now Among the Most Common Aging-In-Place Projects

Last week’s post covered general issues related to Aging-In-Place (such as how many professional remodelers do it, and how many of their customers are receptive to it), using data from NAHB’s Remodeling Market Index (RMI) survey for the 4th quarter of 2018.  This post covers some of the more detailed questions from the same survey, including specific […]

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