National Association of Home Builders

Eye On Housing National Association of Home Builders Discusses Economics and Housing Policy

  • New Home Sales Post Slight Increase
    by Robert Dietz on February 24, 2017 at 3:59 pm

    New home sales contracts expanded by 3.7% in January over a soft December reading, according to estimates from the joint data release of HUD and the Census Bureau. Despite the gain, which places the January pace of sales 5.5% higher than a year ago, the current seasonally adjusted annual rate of 555,000 is slightly below the positive growth trend that has been in place over the last few... Read More &rsaquo […]

  • Apartment and Condominium Market Momentum Continues
    by Carmel Ford on February 23, 2017 at 3:07 pm

    The National Association of Home Builders’ Multifamily Production Index (MPI) increased two points to 55 in the fourth quarter of 2016. For five straight years, the MPI has been at or above 50, which indicates that more respondents report conditions are improving than report conditions are getting worse (Figure 1). Figure 1: NAHB Multifamily Production Index (MPI) and Multifamily Starts... Read More &rsaquo […]

  • Minutes From the FOMC January/February Meeting – We’ll Let You Know
    by Robert Denk on February 22, 2017 at 11:26 pm

    The minutes from the Federal Open Market Committee (FOMC) meetings, released three weeks after the meeting as standard practice, offer a glimpse behind the curtain, providing details of the deliberations, areas of agreement as well as ongoing debate, and specific articulations of viewpoints from unnamed meeting participants, going beyond the statement released immediately following the meeting. Minutes from the January... Read More &rsaquo […]

  • Existing Sales Fast Out of 2017 Gate
    by Stephen Melman on February 22, 2017 at 4:15 pm

    Existing home sales, as reported by the National Association of Realtors (NAR), increased 3.3% in January, reaching the fastest pace since February 2007. At the current sales rate, the January unsold inventory represents a 3.6-month supply, unchanged from December. January existing sales were up 3.8% from the same month a year ago, and advanced to a seasonally adjusted rate of... Read More &rsaquo […]

  • NAHB Survey: AD&C Financing Standards Continue to Ease
    by Michael Neal on February 22, 2017 at 3:00 pm

    Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans according to NAHB’s survey on AD&C Financing. However, the pace of easing slowed somewhat from the second quarter. In the 4th quarter of 2016, the overall net tightening index based on the AD&C survey was -7.3. The 4th quarter reading indicates slightly less easing... Read More &rsaquo […]

  • Small Gains for Single-Family Built-for-Rent Construction
    by Robert Dietz on February 22, 2017 at 1:35 pm

    The number of single-family homes built-for-rent posted small gains over the course of 2016. However, the built-for-rent market is a small portion of the total single-family development, so care must be taken when identifying trends. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent, as measured on a... Read More &rsaquo […]

  • Serious Delinquency Rates Tick Up
    by Michael Neal on February 21, 2017 at 7:29 pm

    Serious delinquency rates on 1-4 family mortgages rose over the 4th quarter of 2016 from the previous quarter. According to the National Delinquency Survey (NDS) released by the Mortgage Bankers’ Association (MBA), the proportion of mortgages seriously delinquent, those that are 90 or more days delinquent or starting the foreclosure process, rose 17 basis points to 3.13 percent. Despite the... Read More &rsaquo […]

  • 2016 Custom Home Building Market Growth
    by Robert Dietz on February 21, 2017 at 5:27 pm

    NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of 2016 custom home building starts (homes built on an owner’s land, with either the owner or a builder acting as the general contractor) set a post-recession high for an annual total. There were 41,000 total custom starts for the final... Read More &rsaquo […]

  • Townhouse Construction Growth Continues
    by Robert Dietz on February 20, 2017 at 2:00 pm

    According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction starts continued to grow on a year-over-year basis. Over the course of 2016, townhouse starts totaled 97,000, a more than 12% gain over the prior year total. The townhouse market recorded a faster growth rate than the overall single-family market for 2016.... Read More &rsaquo […]

  • Mortgage Originations Grow in Q4
    by Michael Neal on February 17, 2017 at 7:33 pm

    According to the Federal Reserve Bank of New York’s Household Debt and Credit Report, mortgage originations grew in the 4th quarter of 2016. Largely resulting from 4th quarter growth, origination volume in 2016 exceeded its level in 2015. This marks the second consecutive year of growth in originations. As the chart above illustrates, there was approximately $617 billion in originations... Read More &rsaquo […]


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