Dave Kohl’s Post

Some glimmers of hope in today’s housing report. Starts, units under construction, and completions are down year-over-year, but approved permits took a nice leap. 5+ unit projects are showing larger growth, too. Hopefully this will continue slowing rent inflation, but the proof still sits in the execution. It’s a good start to FOMC day 😁 https://lnkd.in/gDu74BZE #economy #housing

The economy is showing signs of slowing down. In May, the U.S. Census Bureau and the Department of Housing and Urban Development reported a decline in both construction permitting and residential construction starts for the third consecutive month. Residential approvals were issued at a seasonally adjusted annual rate of 1.386 million, a 3.8% decrease from April and a 9.5% drop from the previous year. Permits for single-family construction were issued at an annual rate of 949,000, showing a 2.9% decrease, while multifamily approvals came in at 382,000, a 6.1% decline. Despite this, single-family permits increased by 3.5% year-over-year, whereas multifamily permits were 31.4% lower compared to the previous year. #Construction #HousingMarket #RealEstate #EconomicTrends

The U.S. Census Bureau released their August 2024 New Residential Construction data, which revealed construction starts declining and completions elevating. Here are some additional findings:   - Multifamily Starts (5+ units): The Seasonally Adjusted Annual Rate (“SAAR”) of starts was 333K, down 45% from its peak in April 2022.   - Completions: August 2024 saw the highest completions in the past decade at a SAAR of 740K units, more than double the ten-year average of 366K units.   - Units Under Construction: Peaked in July 2023 at a SAAR of 1,004,000 units. As of August 2024, this is down 15% to 850K units. The ten-year average is 682K.   Learn more: https://lnkd.in/eCCmG8Mn.   #ConstructionStarts #USCensus #ResidentalConstruction #Multifamily

🏗️ Record-Breaking Multi-Unit Completions! 🏡 According to the US Census Bureau, an annualized 759,000 residential buildings with two or more units were completed last month — the most since July 1974! 📈 That's a massive 39% jump from the previous month, driven by a near doubling of completions in the South to 502,000 units! (via Bloomberg) This surge in multi-unit construction signals a booming housing market and increased inventory, which could lead to more opportunities for buyers and renters. 🌆💼 Let’s discuss how this might impact your next investment or home search! #HousingBoom #MultiUnitHousing #RealEstateTrends #InvestmentOpportunities #HousingMarket #NewDevelopments

This is not the momentum we need to add more housing supply 😞 Home builders started work on 3.1% fewer housing units in October than in September, the U.S. Census Bureau said. Permits were also down slightly, by 0.6%. 🏠 Single-family starts fell the most, down 6.9% in October. 🏢 Multifamily starts rose about 10%, a reversal after months of weakness. As this is cyclical and with interest rates surging again, builders may be focusing on completing projects underway rather than starting new projects from the ground up. According to Daniel Vielhaber, "In the details, builders appear to be diverting resources to working through what had been a record backlog in 2022 and 2023, [and] the number of housing completions remains very elevated and the number of housing units under construction continues to dwindle. With rates higher still in November, we could see builders continue to prioritize projects already started."

Multifamily construction spending slide continues The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in October was up 0.16 percent from the revised level of the month before. Spending on single-family residential construction was reported to rise 0.79 percent while spending on improvements was up 2.7 percent. Read More>>> https://buff.ly/41kBlg2 #Insulation #ConstructionNews #CommercialInsulation #MultiFamilyConstruction #ApartmentConstruction

The US Census Bureau and HUD released their residential construction statistics this morning. from last February to this February, Permits were up 2.4% for building permits, housing starts were up 5.9% and completed units were up 9.6%. this is a sign of the economy expanding and builders pushing to meet the increased demand for single family housing. until the supply can meet the demand for housing expect housing costs both for purchase and rent to increase. https://lnkd.in/eRgkGBEV

"According to National Association of Home Builders analysis of data from the Census Bureau's Quarterly Starts and Completions by Purpose and Design, there were approximately 18,000 single-family built-for-rent (SFBFR) starts during the first quarter of 2024," wrote NAHB Chief Economist Robert Dietz. "This is 20% higher than the first quarter of 2023, albeit with favorable comps due to a weak start of 2023. Over the last four quarters, 80,000 such homes began construction, which is almost a 16% increase compared to the 69,000 estimated SFBFR starts in the four quarters prior to that period." GlobeSt.com #BTR #homebuilders #SFBFR https://lnkd.in/gtF45zM5

There's a new monthly housing statistics report in play. It's titled the 'Whole U.S. Housing Story'. For example, the August 2024 report concludes there were 1,365,800 total new housing 'starts' during the month. This title includes U.S. Census Bureau's single-family, site-built housing 'starts' nationwide, plus the relatively new housing category of Offsite Construction (a.k.a. factory-built housing) that includes HUD-Code manufactured housing, modular & panelized (or 'prefab') housing, and Park Model recreational vehicles. Oh, and that's not all. There's also a monthly MH production report. And finally, a stock market report inclusive of five HUD-Code housing manufacturers and five land lease community (a.k.a. manufactured home community or 'mobile home park') public companies traded on the New York Stock Exchange. To obtain a free copy of the inaugural issue of this historic report of housing benchmark statistics, request it via gfa7156@aol.com

🏗️ A surge in multifamily construction pushed U.S. housing starts up 3% in June to a seasonally adjusted annual rate of 1.35 million units, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Multifamily sector construction rose an impressive 19.6%, while single-family starts dipped 2.2% for the month. #HousingMarket #MultifamilyConstruction #RealEstate #USHousing #EconomicTrends