Existing Home Sales Rebound in October

Despite the slowdown last month, existing home sales, released by the National Association of Realtors (NAR), climbed more than expected in October. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 1.9% to a seasonally adjusted annual rate of 5.46 million in October. On a year-over-year basis, sales were 4.6% higher than a […]

Multifamily Builder and Developer Confidence Weakens Slightly in Third Quarter

Builder and developer confidence in the multifamily housing market weakened slightly in the third quarter, according to results from NAHB’s Multifamily Market Survey (MMS). The MMS produces two separate indices: The Multifamily Production Index (MPI) and the Multifamily Vacancy Index (MVI). The MPI dropped seven points to 49 in the third quarter of 2019 (from […]

Multifamily Six-Year Streak of Gains Ended in 2018

For only the second year since the Great Recession, multifamily unit completions declined in 2018, according to NAHB analysis of the latest annual multifamily data from the Survey of Construction (SOC). As is typical, the number of multifamily units completed for rent exceeds the number of units completed for sale (92% rental share). In 2018, […]

Texas Leads Job Gains in October

Year-over-year (YoY), total nonfarm employment increased by 2.1 million jobs on a seasonally adjusted basis (SA), or 1.4% from October 2018 to October 2019. During this time, total nonfarm employment in the Western region increased by 1.9%. The South, Northeast, and Midwest recorded gains at 1.7%, 0.9% and 0.6% respectively, during this time. According to […]

Single-Family Built-for-Rent Market: 3Q19

The number of single-family homes built-for-rent posted a small decline during third quarter of 2019. This market has received recent attention as a means to add single-family inventory amid concerns over housing affordability and downpayment requirements in the for-sale market. Single-family built-for-rent (SFBFR) construction does differ in structure characteristics compared other single-family homes. According to NAHB’s […]

Townhouse Construction Flat in Third Quarter

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction may be nearing the end of its recent slowdown, showing relatively flat construction conditions for the third quarter. This recent market softness matches data in the NAHB HBGI, which displayed weak construction activity for large metro […]

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