Eye On Housing
Remodeling in 2021: Kitchens Edge Baths for Top Spot
As National Home Remodeling Month draws to  close, Eye on Housing reports on the most common projects undertaken by NAHB Remodelers during the previous calendar year—in this case, 2021.  The results come from a special question included in the first quarter 2022 survey for the  NAHB/Westlake Royal Remodeling Market Index (RMI). At the top of the list, 81 percent of... Read More ›
Condo Construction Market Showing Gains£
According to NAHB analysis of quarterly Census data, the count of multifamily, for-sale housing starts increased during the first quarter of 2022. At 11,000 units started, this was the best quarter for condo construction since the third quarter of 2008. As a result, the market share of rental units of multifamily construction starts decreased to 91% during the first quarter... Read More ›
New Single-Family Home Size Trends
An expected impact of the virus crisis is a need for more residential space, as people use homes for more purposes including work. According to first quarter 2022 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area inched down to 2,310 square feet. Average (mean) square footage for new... Read More ›
Jump for AD&C Loan Balances
Residential construction loan volume reached a post-Great Recession high during the first quarter of 2022, as home building activity entered a new year with higher interest rates. As the single-family building market slows in 2022, the volume of such loans will likely peak in the coming quarters. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased... Read More ›
New Home Sales Deteriorate in April
New single-family home sales posted a significant decline in April as housing demand deteriorated in the face of rising interest rates. After starting at 3.1% in December, the average 30-year fixed rate mortgage increased to 5.1% by the end of April, per Freddie Mac. Additionally, builders continue to grapple with supply-chain issues, limiting inventory in a market for which new... Read More ›
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