Author: Eye On Housing

  1. NAHB Releases Remodeling by Zip Code Estimates for 2018

    With this post NAHB announces the release of its latest estimates of spending on improvements to owner-occupied homes at the zip code level.  The new estimates are for calendar year 2018 and include the number of owner-occupied homes, the number with i…

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  2. Larger Job Gains Across Fewer States in April

    According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 26 states and the District of Columbia, was unchanged in two states, and decreased in 22 states in April 2018 compared to March 2018. Over the month of March, jobs ros…

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  3. Existing Sales Retreat 2.5% in April

    Existing-home sales decreased 2.5% in April to a level 1.4% below a year ago, and sales have now decreased year-over-year for two consecutive months. The first-time buyer share of 33% was an increase from last month, but remains down from 34% a year ag…

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  4. The Multifamily Market Remains Positive in the First Quarter

    Confidence in the Multifamily Market remained firm in the first quarter of 2018 with a Multifamily Production Index (MPI) of 53, according to the National Association of Home Builders (NAHB) (Figure 1). The MPI measures builder and developer sentiment …

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  5. Steady AD&C Loan Growth

    The volume of residential construction loans increased by 1.8% during the first quarter of 2018, marking 20 consecutive quarters of growth. Furthermore, recent stabilization of year-over-year growth rates is an indicator of continued, modest growth for…

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  6. New Home Sales Decline

    Sales of new homes fell by 1.5 percent over the month of April to a seasonally adjusted annual rate of 662,000. According to the report released by the Census Bureau and the Department of Housing and Urban Development, the small monthly decline partly …

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  7. Multifamily Unit Size Falls

    The elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily h…

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  8. Standards on AD&C Loans Ease, Interest Rates Expected to Rise

    Builders and developers responding to NAHB’s AD&C Financing Survey continue to report easing credit conditions for acquisition, development, and single-family construction loans, over the first quarter of 2018, but the pace of easing slowed. At the…

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  9. HELOC Win Retains $760 Million in Remodeling Incentives

    Ever since the inception of the U.S. income tax in 1913, home owners have been able to deduct interest paid on home equity loans (HELOCs). The Omnibus Budget Reconciliation Act of 1987 limited the mortgage interest and HELOC deductions to interest paid…

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  10. Single-Family Built-for-Rent Construction

    The number of single-family homes built-for-rent increased over the last four quarters. During this timer period, construction starts of this type of housing totaled 37,000 homes, compared to 33,000 for the prior four quarters. There were 7,000 single-…

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