NAHB analysis of the 2022 American Community Survey data shows that New Jersey leads the nation with the highest average annual real estate tax (RET) bill ($9,285)—$8,425 more than yearly property taxes paid by Alabama’s homeowners ($860). The size of this disparity grew 1.1% in 2022 and has increased 9.3% since 2017. Vermont was the only state for which the… Read More ›
Reminiscent of family enclaves found in seaside villages at the turn of the century, Flora’s Bluff on Bald Head Island, NC is characterized by site-sensitive building design and planning. The 26-unit neighborhood, part of a 2000-acre island resort community on the Outer Banks of North Carolina, offers buyers either oceanfront cottages or ocean views with access to the beach via boardwalks. The homes are sited to fit into the natural topography, disturbing the dunes and natural vegetation as little as…
The share of homes with patios edged up to another record high last year. Of the roughly one million single-family homes started in 2022, 63.3% percent came with patios—up from 63.0% in 2021, and the seventh consecutive year of setting a new record. The source for these numbers is NAHB tabulation of data from the Survey of Construction (conducted by… Read More ›
Nestled along the shoreline of Lake Michigan lies this ultra-modern, sleek, outdoor-living-centered home. Clean lines combined with a simplistic style dominate this symmetrical home. The intentional design of the home allows for views of the lake from all levels. The rear of the home overlooks the calm waters of the lake and showcases an outdoor lover’s dream. Multiple decks with gatherings areas, heated beams and a private hot tub create the perfect space for entertaining. The main level of the…
NAHB Analysis of the Census Bureau’s Characteristics of Units in New Multifamily Buildings Completed finds that 93% of the 368,000 multifamily units completed in 2022 were built-for-rent while the remaining 7% were built-for-sale. The share of new multifamily units that are built-for-sale has remained below 10% since 2011 when the share was 12%. 2011 was also the same year that… Read More ›
Financial conditions continue to tighten, as the 10-year Treasury rate increased to above 4.75%. Among the factors leading to higher rates (more debt issuance, higher-for-longer monetary policy expectations, long-term fiscal deficit conditions, and strong current GDP growth forecasts) was a surprise jump in August for the total number of open, unfilled jobs. In August, the number of open jobs for… Read More ›
The original 1975 layout left the entry cramped and the kitchen restricted. The floor plan begged to be opened up and natural light extended to each corner. The bookcase serves many purposes. The structural posts are hidden within the walnut uprights. The floor-to-ceiling height draws the eyes up, and helps to define the two sitting areas. It also allows the owners to personalize the living area with items that tell their story. All the custom-built, rift-sawn walnut pieces are created…
Chosen by BALA judges for its simple elegance, impeccable execution of details and organic relationship to its wooded, in-town lot, the 3,400-square-foot home is not authentically Arts & Crafts, although it looks it. It uses modern building technologies and materials in addition to handcrafted millwork and cabinetry to achieve a balance between the old and new; the home is low-maintenance and designed to fit the needs of a family while still embodying the Arts & Crafts ideals of simplicity and…
NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.6% in August. It is the fourth consecutive increase since May 2023, standing at a seasonally adjusted annual pace of $879.9 billion. However, total private residential construction spending is still 3.1% lower compared to a year ago. The total construction monthly increase is attributed to more… Read More ›