Despite Home Price Strength, Entry-Level Affordability Still Screens Favorably
June 02, 2017 by Zelman & Associates
There are numerous home price measures that are provided by the government and private entities, both for free and at a charge, that offer market participants a general understanding of national pricing. Given a very high correlation across ...
Filed Under
affordabilityentry-levelhome pricing
“Good” Births Up Strongly For Sixth Straight Year as Family Formation Accelerates
June 02, 2017 by Zelman & Associates
Final birth statistics for 2016 have yet to be released by the Center for Disease Control and Prevention, but we utilized preliminary data to estimate the results. We recently raised the question of whether ...
Filed Under
demographics
Are New Home Prices Rising Too Quickly?
May 19, 2017 by Zelman & Associates
According to our monthly private homebuilding survey that canvasses approximately 15% of the national production market, new orders increased 14% year over year in April, the lowest rate of growth since October and below the ...
Filed Under
affordabilityhome pricinghomebuildingsurvey
Share of Children Being Born Out of Wedlock Rising, Even Among Well-Educated
May 19, 2017 by Zelman & Associates
The Census Bureau recently released data sourced from the Fertility Supplement to the Current Population Survey, which is an analysis conducted every other year about childlessness and children born to women by demographic characteristics such ...
Filed Under
demographicsmillennials
The Paradox of Household Formation and New Construction Supply
May 19, 2017 by Zelman & Associates
We utilize a proprietary tracking of residential electric customers to supplement our views on household formation, which has proven critical to our overall housing thesis during periods of volatile government data. ...
Filed Under
household formationhousing starts
Ten-Year Declining Homeownership Rate Streak Finally Broken in 1Q17
May 05, 2017 by Zelman & Associates
According to the most-frequently cited measure of homeownership produced quarterly by the Census Bureau, the decade long slide in the national homeownership rate just ended. For 1Q17, 63.6% of households were owners versus renters, up 10 basis ...
Filed Under
homeownership
Single-Family Rent Growth Has Overtaken Apartments After Historically Lagging
May 05, 2017 by Zelman & Associates
In 2016, we estimate that there were roughly 44 million single-family and multi-family rental homes across the country, accounting for approximately 35% of total households. To track the professionally-managed portion of each market, Zelman ...
Filed Under
apartmentssingle-family rentalsurvey
Lumber Inflation Surrounding Canadian Tariff Just Another Pressure on Builder Costs
May 05, 2017 by Zelman & Associates
In late April, the Department of Commerce announced countervailing duties, or a tariff, on imported softwood lumber from Canada, ranging from 3-24% for the largest producers and 20% for all other mills. The tariffs were largely expected by ...
Filed Under
home pricinghomebuilding
Are We in the Midst of a Wedding and Baby Boom and Don’t Realize It?
April 21, 2017 by Zelman & Associates
Earlier this week, the Census Bureau published a report titled “The Changing Economics and Demographics of Young Adulthood: 1975-2016”, which analyzed changes in how young adults have been educated, started families and lived over the last ...
Filed Under
demographicshousehold formation
Urban Sprawl Picking Up Steam Even Beyond Starter Homes
April 21, 2017 by Zelman & Associates
Beginning in 1Q15, we began tracking new home for-sale inventory across more than 20 production homebuilders, including the square footage offered as a way to better gauge investments and the willingness to cater to the under-served ...
Filed Under
entry-levelhomebuilding
affordabilityapartmentsbaby boomersbuild-for-rentBuilding Productsconstruction lendingdemographicsentry-levelexisting home saleshome improvementhome pricinghomebuildinghomeownershiphousehold formationhousinghousing startsinstitutional investorsinterest ratesmacro housingManufactured Housingmillennialsmortgagemortgage ratesnew home salesreal estate servicesrefinancesg&asingle-family rentalstocksstudent debtsupplysurvey