The S&P CoreLogic Case-Shiller U.S. National Home Price Index (HPI), reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual rate of 4.98% for February. This was following an adjusted 3.73% rate for January. This marks the fourth consecutive monthly rate increase from November 2023. On a year-over-year basis, the S&P CoreLogic Case-Shiller U.S….
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate declined to 65.6% in the first quarter of 2024. This is 0.1 percentage points lower from the prior quarter reading (65.7%) and is the lowest rate in the last two years. The homeownership rate remains below the 25-year average rate of 66.4%, a…
Continuing NAHB’s commitment to be at the forefront of research on home buyer preferences, the 2024 edition of What Home Buyers Really Want was recently released at the International Builders’ Show. The primary objective of the study is to provide builders, manufacturers, architects, and the general residential construction industry with a thorough analysis of what buyers are looking for in their homes and communities. Because of the inherent diversity in buyer backgrounds, the study provides granular specificity based on demographic factors such…
A beautiful new home community located in the southern part of Gilbert in Phoenix’s coveted East Valley area, Waterson offers modern luxury and versatility at the forefront with a range of design style, price and size options. With a 7-acre Central Park, grand ramada and lake, the community overflows with opportunity for outdoor lovers of all ages. With the generous homesites offering some of the best backyards in the East Valley and its close proximity to local paradises such as…
Building upon our exploration of green building trends, major practices, and resilience strategies based on The Building Sustainably: Green & Resilient Single- Family Homes 2024 SmartMarket Brief, this article now shifts focus towards ways to increase green building within the housing market. Top Incentives to Build Green The survey asked all respondents to select the…
According to the data released by Bureau of Economic Analysis (BEA), private fixed investment in student dormitories edged down 0.1% to a seasonally adjusted annual rate (SAAR) of $4 billion in the first quarter of 2024, after a 2.3% increase in the prior quarter. Private fixed investment in dorms was 10.4% higher than a year…
The south side of the house faces Phoenix’s most iconic landmark, while its north side offers panoramic beauty with Mummy Mountain and the Phoenix Mountain Preserve spanning the horizon. Because of these distinctive formations, almost every space in the house has a killer view. To make the best of the front yard, the front of the house incorporates floor-to-ceiling windows that capture Camelback Mountain from the living room, kitchen and office. Because the owners work from home, their shared office…
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.5% in March, up from a 0.3% increase in the prior month. Gains in personal income are largely driven by increases in wages and salaries. As spending outpaced personal income growth, the March personal savings rate dipped to…
NAHB recently updated its 2024 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that affordability is a serious problem even before any further price or interest rate increases. Already in 2024, 103.5 million households are not able to afford a median priced new home ($495,750[1]). This…
Housing’s share of the economy rose to 16.1% in the first quarter of 2024. The share remained below 16% for all of 2023 at 15.9% in each of the four quarters. This increase to above 16% marks the first-time housing’s share of GDP is above 16% since 2022. In the first quarter, the more cyclical…