Real gross domestic product (GDP) decreased in 40 states and the District of Columbia in the second quarter of 2022 while ten states saw modest GDP growth. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP ranged from 1.8 percent increase in Texas to 4.8 percent decline in Wyoming. Nationwide, growth in real GDP, measured… Read More ›
A majority of new homes that completed construction in 2021 included two-car garages (67%), according to NAHB analysis of 2021 Census Bureau Survey of Construction data. There is clear uniformity for parking options in new homes completed across the Census divisions: the 2-car garage was the most popular parking option for completed homes in all divisions. The option for three or… Read More ›
NAHB analysis of the Survey of Construction (SOC) shows that 67% of all new single-family homes started in 2021 were built on slab foundations, followed by 21% of homes built with a full/partial basement and 11% of homes built with a crawl space. As home building shifts towards the southern divisions, the slab adoption rates are growing larger. The share… Read More ›
The concept was to design an H-pattern plan centering the focus around an outdoor pool and outdoor living spaces. The owners wanted a very transparent home filled with natural light, focusing all or as many rooms as possible toward the rear of the home to maximize views. The plan keeps the circulation to the front portion of the home while creating outdoor courtyards in the front yard allowing large floor-to-ceiling windows to let the light flow through the home. The…
The count of open, unfilled jobs for the overall economy fell 10% in August, declining from from almost 11.2 million to 10.05 million. The decline for open jobs reflects the beginnings of a labor market retreat as the economy slows due to aggressive tightening of monetary policy by the Fed. While the economy continues to face a critical skilled labor… Read More ›
Just north of Atlanta, this five-story mixed-use development houses 355 units, 9,000 sf of leasing/amenity space, and ground-floor retail and restaurants. The project is part of a master-planned community that includes townhomes, single-family residences, boutique retail, chef-driven restaurants, parks/hiking trails, and the recently relocated Mercedes-Benz USA headquarters. The community boasts six courtyards, a gated dog park and dog spa, grill stations, and fire pits. A two-story fitness center overlooks a salt-water pool. Other amenities include a residents-only bar, full catering…
The share of homes built with patios hit a record high in 2021. Of the roughly 1.1 million single-family homes started in 2021, 63 percent came with patios. This number comes from NAHB tabulation of data from the Survey of Construction (conducted by the U.S. Census Bureau with partial finding from the Department of Housing and Urban Development). Patios on new homes have become increasingly common recently, and 2021 marks the sixth consecutive year that the share of new homes with patios…
This century-old home needed to be updated for modern life. Its single-car garage was not functional. The 3-car garage addition allowed the design team to renovate the existing garage into the laundry, mud room, mud entry and renovate the main family room. Before The next phase included a library, but most importantly, the owners’ suite was renovated as part of the new wing. The original bath was relatively small and in a contrasting style to the original home. This end…
Private residential construction spending declined 0.9% in August, as single-family construction spending slid amid surging mortgage rates. Private residential construction spending declined for the third consecutive month, standing at an annual pace of $921.9 billion, according to NAHB’s analysis of the Census Construction Spending data. However, this spending category was 12.5% higher year-over-year. The monthly declines are largely attributed to… Read More ›