- The number of Occupied Housing Units (“Households”) in the U.S. increased by 19.62 million from Q4 2009 – Q3 2024. In Q4 2009, there were 112.49 million Occupied households and by Q3 2024, the number reached 132.11 million.
- During the same time period (Q4 2009 – Q3 2024), the number of Vacant Housing Units in the U.S. declined by 4.08 million. In Q3 2024, there were 14.92 million Vacant Housing Units compared to 19.00 million in Q4 2009. The low for the time period was during the pandemic at 13.90 million.
Home Remodeling Sentiment
- The next chart illustrates the National Association of Home Builders (“NAHB”) Remodeling Market Index which provides insight on overall market conditions for the remodeling market. A score > 50 indicates a higher share of remodelers view conditions as good rather than poor.
- In Q3 2024, the NAHB Remodeling Index had a national score (seasonally adjusted) of 63, compared to a score of 65 in the same period last year and in Q2 2024.
- The NAHB Remodeling Market Index was > 50 in all four regions of the U.S. The highest score of 66.88 was in the South, followed by 64.23 in the Midwest.
Stock Performance of Homebuilders
- The final chart outlines the stock performance of Homebuilder stocks based upon year-to-date returns from 1/1/24 to 11/04/24.
- On 11/04/24, the stocks with the largest year-to-date returns were Toll Brothers at 46.1%, followed by NVR at 32.6% and PulteGroup at 27.5%. LGI Homes had the only negative year to date return at -20.7%.
