After a massive drop-off from 2008 to 2013, the number of residential construction loans is expanding again.
NAHB Eye on Housing reports that the volume jumped by 4.8 percent in the third quarter of 2016, the 14th straight quarter with growth. The outstanding stock of 1-4 unit residential construction loans rose by $3.1 billion during the same period, which translates to $68.3 billion in outstanding loans.
The stock of outstanding home building construction loans has risen by 68 percent ($27.6 billion) since the first quarter of 2013.
The current stock of existing residential AD&C loans now stands 66% lower than the peak level of residential construction lending of $203.8 billion reached during the first quarter of 2008.
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