NARCL

AcronymDefinition
NARCLNuclear Accident Response Capability Listing
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And in 1994, a fairly weak year for the for-sale side, they accounted for almost 35 percent of all housing starts--a whopping 414,000 units.) Figure 2 Single-Family Construction Lending ($ Billions) Housing Starts (#) Estimated Total Lines of Credit 2004 1,611,000 $320.4 N/A 2005 1,716,000 $372.0 $251.4 2006 1,465,000 $324.5 $258.5 2007 1,046,000 $237.5 $140.1 2008 * 890.000 $193.5 $106.4 Construction to Permanent Other * 2004 N/A N/A 2005 $66.3 $31.6 2006 $83.6 $38.0 2007 $76.0 $21.4 2008 * $71.6 $15.5 * Estimates SOURCE: NATIONAL ASSOCIATION OF RESIDENTIAL CONSTRUCTION LENDERS (NARCL)
But while direct lines of credit to builders fell from 59 percent of the market in 2006 to 55 percent in 2007, the C2P share grew from 32 percent to 37 percent, according to figures compiled by NARCL, the construction lenders trade association (see Figure 2).
Nirk, NARCL's executive director, says the C2P portion is likely to become even more prevalent because production builders--who put up entire subdivisions, as opposed to custom builders, who erect one-of-a-kind houses one at a time--are starting to catch on to the advantages this type of financing offers them and their customers.