A deeper dive into the U.S. Census Bureau’s Quarterly Starts and Completion by Purpose and Design report reveals that custom home building posted a small increase during the first quarter of 2020. The results of lower interest rates and favorable building conditions in January and February. According to the report there were 32,000 total custom building starts during the first quarter of 2020. This marks a 10% gain over the first quarter 2019 total of 29,000. Over the last four quarters, custom housing starts totaled 180,000, which was a 3% increase over the prior four quarter total of 170,000 starts. The National Association of Builders (NAHB) is expecting an increase in the share of custom building for single-family starts in the quarters ahead.
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Small Gain for Custom Home Building During 1Q20