Skip to main content

U.S. Housing Market Conditions, 3rd Quarter 2010

HUD.GOV HUDUser.gov
eList
HUDUSERNEWS
HUD USER eList
20 December 2010    
eList banner
cell background cell background
U.S. Housing Market Conditions, 3rd Quarter 2010
USHMC 3rd Quarter 2010HUD's Office of Policy Development and Research has released the third quarter of 2010 U.S. Housing Market Conditions report with updates of production, marketing, and multifamily sector performance, as well as housing affordability, homeownership, and foreclosures. In addition to the third quarter data, the report includes comparisons with the second quarter of 2010 and the third quarter of 2009, profiles of economic and housing market activity in each of HUD's 10 regions, and updates of historical trends in national and regional housing markets. This quarter's feature article is titled "The Impact of Hurricane Katrina on the New Orleans Housing Stock."

Download or order free print copies by phone at 800-245-2691, option 1.

 
Download Report
cell background cell background
Follow us on:
Facebook and twitter icons
cell background
line
Key Findings

   On a national basis...
  • The housing sector component of GDP (residential fixed investment), as a percentage of GDP was 2.2% in the third quarter, down 30 basis points from the previous quarter.


  • Single-family housing permits dropped 10% from the previous quarter and 16% from the third quarter of 2009. Single-family starts were down 11% from the second quarter and 12% from a year earlier.


  • Completions of single-family homes fell 17% from the previous quarter, but were only down 2% from the third quarter of 2009.


  • Manufactured housing shipments were down 12% from the previous quarter, but were 1% higher than a year ago.


  • New single-family home sales were down 13% from last quarter, while existing home sales dropped 25%. Distressed sales (foreclosures and short sales) represented 34% of all home sales, up from 32% in the previous quarter.


  • New homebuyers accounted for 34% of all home sales, down from 46% in the second quarter.


  • Housing affordability remains high; it rose 3% from the previous quarter and 7% from the third quarter of 2009. This is attributed to a 29-basis-point decline in mortgage interest rates and a 0.3% increase in median family income, both of which offset a 1% increase in the median price of existing single-family homes sold.


  • The national homeownership rate of 66.9% was unchanged from the previous quarter, but the minority rate declined from 49% to 48.6%. This reflects the subprime lending crisis, high rates of unemployment, and the recent severe recession.


  • When compared with the second quarter of 2010, the multifamily (5+ units) housing sector continued to improve; permits and starts rose, although completions fell.



    • line
    PD&R Newsletters  PD&R Research PD&R Data sets   

    You were sent this HUD USER News update because you expressed interest in receiving a weekly email to stay informed of new HUD research and resources. If you no longer wish to receive this email, please send an email to hudusernews@huduser.gov with "unsubscribe" as the SUBJECT.

    HUD USER HUD USER
    P.O. Box 23268, Washington, DC 20026-3268
    1-800-245-2691 | 1-800-927-7589 (TDD) | 202-708-9981 (fax)
    PD&R

     

    eList Archives