Non-real estate consumer credit grew at a seasonal adjusted annual rate (SAAR) of 8.7% in the second quarter of 2022 according to the Federal Reserve’s latest G.19 Consumer Credit report. Revolving debt climbed 14.6% (SAAR), double the increase in nonrevolving debt (+6.9%). Total consumer credit currently stands at $4.6 trillion, with $1.1 trillion in revolving debt and $3.5 trillion in… Read More ›
Stairs have been used many times by designers as an element to emphasize innovation and a home’s personality. Although a staircase is typically used functionally as a transitional area between one level to another, some designers use it to create a journey for the users or as a focal point for the space. Stairs usually include standard components like landings, stringers, posts, newel posts, and balustrades. A good staircase design will include not only safety for the users but also…
Home price growth decelerated in June and home prices grew at a single-digit annual rate for the first time in the past 23 months. As housing demand is softening, with declines for existing home sales and new home sales and weakened single-family starts, home price growth is expected to slow. In July, all the 20 metro areas experienced significant deceleration…. Read More ›
The construction labor market is cooling off as economic activity slows in response to tighter monetary policy. However, the July data shows stability concerning the number of open, unfilled jobs in the construction industry. This trend will likely weaken during the second half of 2022 due to the policy decisions by the Federal Reserve. The count of open construction jobs… Read More ›
According to the annual data from the Census Bureau’s Survey of Construction (SOC), stucco was the most common principal siding material on new single-family homes started in 2021 (28 percent), followed by vinyl siding (24 percent), fiber cement siding (such as Hardiplank or Hardiboard (23 percent) and, brick or brick veneer (19 percent). Far smaller shares of single-family homes started last year… Read More ›
Private fixed investment in student dormitories declined 4.4% to a seasonally adjusted annual rate (SAAR) of $3.2 billion in the second quarter of 2021, according to the data released by Bureau of Economic Analysis. Private fixed investment in dorms was 12.7% higher than a year ago, but 29% below the pre-pandemic level. Private fixed investment in student housing experienced a… Read More ›
You just got lucky! The Best in American Living Awards application deadline has just been extended for an extra two weeks! Take this chance and apply now for the only design awards program at NAHB. The entry portal will officially close on September 9, 2022. Contact Kiera Gulley at kgulley@nahb.org or Susan Asmus at sasmus@nahb.org for any questions.
NAHB analysis of the 2021 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 28.8% of the market, while conventional financing dominated the market at 71.2%. In 2020, share of non-conventional financing was 34.4% of the market while conventional financing accounted for 65.6% of the market share. Non-conventional… Read More ›
People would agree that having house plants make any space looks nicer and more welcoming, however, besides the aesthetic benefit, there are so many more reasons to include and thoughtfully consider the use of house plants in home designs. Below are some of those benefits. The Biophilia Effect The effect of nature on humans well bring (Biophilia), has been thought of and studied a lot lately. The human affinity to nature and the benefits that come with it is the…
Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the first quarter of 2022 due to strong demand and low vacancy rates. However, the decline in the number of apartment and condominium completions in the first quarter of 2022 reflects the ongoing supply chain challenges. The… Read More ›