The Census Bureau’s latest Survey of Construction (SOC) shows modest changes in the share of number of bedrooms for new single-family homes in 2021 compared with the previous year. The current estimates indicate the share of new single-family homes with 2 bedrooms or less is 9.2%, 3 bedrooms, the largest share, had a share of 44.5%, 4 bedrooms make up… Read More ›

Smartly placed flooring can redefine the spaces in any home’s interior. Knowing what options are available may be daunting. An overview of flooring types will give any contractor and homeowner a place to start:   Carpet –Depending on depth and fiber type, carpet can provide warmth, reduce noise, and save on energy bills in a home. Carpet depth is categorized by low pile, medium pile, and high pile, most of which are available in a variety of textures.  Textures are…

The most recent Home Building Geography Index (HBGI) shows that single-family home building slowed down its pace in the exurban areas, which experienced strong growth since the pandemic. Both high mortgage rates and supply-chain disruptions have put a damper on the housing market. The growth rate of single-family construction in large metro outlying counties went down to negative 4.4% in… Read More ›

In November of 2022, 36 percent of single-family home builders reported reducing their prices, and 59 percent were offering special sales incentives.  These percentages may seem relatively high—and in fact they have increased significantly since July of this year—but they are nowhere near as high as they were during the 2007-2008 financial crisis. Questions on sales incentives have been a… Read More ›

Serving students of Texas State University, the 13-story Aspire is the tallest building in the area. It offers 754 beds and a multitude of amenities with 17,116 sf of ground-level retail with a Target Urban, a condensed version of the major retailer suitable for urban dense areas and near college campuses where the full-size store may not fit. It is surrounded by the Texas State campus and is a walking distance from restaurants, nightlife activities, and San Marcos’ downtown square.…

In November, job growth slowed slightly from the previous month but still showed strength despite tight monetary policy. The unemployment rate was unchanged at 3.7% in November as the number of persons in the labor force decreased for the third straight month. Total nonfarm payroll employment increased by 263,000 in November, following a gain of 284,000 in October, as reported… Read More ›

Fall is the perfect time to secure a home from winter storms. New roofing often provides added  protection from the elements and greatly updates a home’s curb appeal.  Choosing a new roof can be daunting. While considering budget, aesthetics, and longevity, there are also many roofing materials to choose from. Some of the top choices include:  Asphalt shingles – Fiberglass and organic mat-based asphalt shingles are cost-effective and easy to install. Asphalt shingles include the lightweight 3-tab Strips and aesthetically…

Residential construction loan volume reached a post-Great Recession high during the third quarter of 2022, as home building activity and new home sales remained weak. Outstanding builder loan balances are rising as development debt is being held longer as new homes remain in inventory longer. Loan balances will decline in coming quarters as the development loan market becomes more costly… Read More ›

Private residential construction spending declined 0.3% in October, as spending on single-family construction dropped 2.6%. Private residential construction spending fell for the fifth consecutive month, standing at an annual pace of $887.2 billion. This was about 8.6% higher compared to a year ago. The monthly decline is largely attributed to lower spending on single-family construction. Single-family construction spending dropped 2.6%… Read More ›

By Robert Dietz An expected impact of the virus crisis was a need for more residential space, as people use homes for more purposes including work. During the housing boom after covid, this led to a rise for new single-family home size. However, as the housing market weakens on lower affordability conditions this trend appears to be reversing. According to third quarter 2022 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor…