Eye On Housing
22% of Home Buyers Expect House Search to Get Easier Soon
In the first quarter of 2019, adults planning a home purchase (i.e. prospective buyers) were asked about their expectations for housing availability in the near future. Results show that 22% expect the search for a home to become easier in the months ahead, an improvement over the 16% who had that same expectation a year earlier.  During this period, the... Read More ›
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 first quarter 2019 data, the... Read More ›
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 the joint release of HUD... Read More ›
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 about current market conditions, dropped... Read More ›
Many Remodelers Are Now Creating ADUs
Despite some recent improvement, household formations have been lagging since the latest downturn.  The accompanying effects have been many—including a lower rate of housing production, a lower rate of replacing older housing units, a consequently aging housing stock, and increased doubling up.  Remodeling is also potentially affected, as the tendency to double up may be accommodated in part by modifying... Read More ›
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