NAHB News – LA Least Affordable Market, Water Consumption, 5000+ Sq Homes Decline
Los Angeles Named Least Affordable Housing Market in Q3 of 2017
Los Angeles, Seattle, San Francisco and Portland are all booming in terms of housing markets. San Francisco which has been the nation’s least affordable major housing market for the last five years, was passed by Los Angeles in Q3 this year.
Just 9.1% of the homes sold in Q3 in the LA/Long Beach/Glendale area were affordable to families earning the area’s median income of $64,300. Conversely, Wheeling, West Virginia was rated the nation’s most affordable market with almost 95% of homes sold to families earning the area’s median income of $56,100. Nationwide, the percentage of homes sold to households who made median incomes is down from 59.4% to 58.3% from Q2 to Q3 in 2017.
Read more at NAHB.
How Much Water Do Homes Use?
Residential use of water constitutes a relatively small share of the nation’s thirst, only 7.7% of total water use in the United States. Other categories include:
-Thermoelectric Power: 45.4%
-Irrigation: 32.4%
-Non-residential public supply 5.2%
-Industrial self-supplied 4.5%
-Other: 4.9%
Broken down by state, each state tends to use more water if they are in states that are hot, dry and have larger households.
Read more at NAHB.
In Q3 2017 5000+ Square Foot Homes Decline
The share of new homes started with 5,000 square feet or more of living spaces went from 3.9% to 3.1% from 2015-2016. 2016’s 3.1% is the lowest it’s been since it was 2.8 % in 2012. Further data show that these 5,000+ homes include:
-A finished basement
-65% have a 3+ car garage
-58% have a patio/porch
-More than 50% have 5+ bedrooms
-70% have 4+ bathrooms
Read more at NAHB.
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