National Association of Home Builders

Washington, DC 20005

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The three-month moving average for single-family housing starts has been steadily increasing since 2011. Multifamily housing starts is also continuing its upward trend topping over a 400,000 annualized rate.
July Single-Family Housing Starts Leap 13% to Highest Rate since 2008
While actual sales prices of new homes have been rising because of the compositional shift, quality constant new home prices have risen less than quality controlled existing home prices. This trend is likely to shift to higher new home prices in order to induce more builders to build.
Builder Confidence in New Single-family Home Market Reaches Nearly 10 Year High
Total private residential construction spending for June increased to a seasonally adjusted annual rate of $378 billion while the pace of total nonresidential construction spending decreased by 0.03% monthly in June, but increased by 11.5% annually from June 2014.
Steady Increase in Multifamily Drives Increase in Total Residential Construction Spending
U.S. housing starts jumped 9.8% to a seasonally adjusted annual rate of 1.174 million units in June, lead by a 29.4% leap in multifamily production. Single-family starts edged down 0.9% for the month, but were 14.7% above June 2014. A 7.4% rise brought housing permits issued up to an annual rate of 1,343,000; 30.0% higher than the June 2014 level.
Multifamily Housing Starts Drive 9.8% June Growth
The NAHB/Wells Fargo Housing Market Index reached 60 in July and along with the one-point upward revision to June’s index mark a high in the index not seen since November 2005.
Builder Confidence in New, Single-Family Homes Highest in Nearly 10 Years
The May construction sector hiring rate, as measured on a three-month moving average basis, held steady at 5%. The May number of sector job quits was also relatively unchanged at 117,000.
Number of Unfilled Construction Jobs Rises Again in May
For the first quarter of 2015, housing services made up 12.3% of U.S. GDP, or an annual rate of $2 trillion, and residential fixed investment (RFI) rose to a $512 billion annual rate; 3.14% of the economy. Taken together, housing’s share of GDP was 15.45% for the start of the year.
US GDP Slips 0.2% in Q1, Housing’s Share Grows
On a three-month moving average basis, the open position rate for the construction sector rose to 2.5% in April, the construction sector hiring rate declined to 5% and the number of job quits held declined to 105,000, the lowest level since the start of the year.
Number of Unfilled Construction Jobs Remains High
US housing starts rose in April 20.2% to a seasonally adjusted annual rate of 1.135 million units, the highest level of housing production since November 2007. Residential permits issued rose 10.1% in April to an annual rate of 1.143 million.
April US Housing Starts Leap 20.2% to Post-Recession High
“Despite this month’s slight dip, builder confidence in the new home market remains above the 50-point benchmark,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, Mo. “Overall, the second quarter of 2015 is shaping up to be very solid.”
Builder Confidence in New, Single-family Homes Market Wavers Slightly
Over the last year, the open construction jobs rate has typically been higher than the rates that were experienced during the 2001-2003 period prior to the building boom. March hiring in construction was soft, posting the smallest count of new hires since September of 2014. The March number of job quits held steady at 122,000.
Number of Open Construction Jobs Drops 8% in March
US Housing Starts and Permits
March Housing Starts Edge Up 2% after a Disappointing February
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