Eye On Housing
Florida Leads Job Gains in February
Total nonfarm employment, seasonally adjusted (SA) increased by 2.5 million jobs, year-over-year (YoY), or 1.7% from February 2018 to February 2019. During this time, total nonfarm employment in the Western and Southern regions increased by 1.7%. The Midwest and the Northeast recorded the lowest gains at 0.7% and 0.8% respectively, during this time. According to the Bureau of Labor Statistics,… Read More ›
Recent Posts
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Existing Home Sales Jumped in February
After three consecutive months of decline, existing home sales, released by the National Association of Realtors, rebounded strongly in February. This is the largest monthly gain since December 2015. Total Existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 11.8% to a seasonally adjusted annual rate of 5.51 million in February, the highest level in the past eleven… Read More ›
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Builders’ Profit Margins Continue to (Slowly) Increase
Typically, one of the best-kept secrets in a private company is the share of total revenue that stays in the company after paying all operating costs and expenses. For a number of personal, business, or strategic reasons, that number – also known as net profit margin – tends to remain the purview of owner(s) and accountants. Despite these company-specific realities,… Read More ›
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Fed Adopts A More Dovish Stance
The Federal Open Market Committee (FOMC), the Fed’s monetary policymaking body, held the federal funds rate steady at a top rate of 2.5% at the conclusion of its March meeting. This was no surprise for financial markets, as this approach had been telegraphed by the Fed in January. However, the Fed communicated two other elements that indicate that the central… Read More ›
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Gypsum Prices Down 10% Since 2018 Peak
The downward trend in prices paid for gypsum products continued in February, as prices declined 5.1% (seasonally adjusted) according to the latest Producer Price Index (PPI) released by the Bureau of Labor Statistics. Prices paid for gypsum products have fallen 8.6% and 9.8% since the start of 2019 and August 2018, respectively. The trend is notable as prices have fallen… Read More ›
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Colors and Finishes for Kitchen Appliances, Cabinets, and Countertops
Last week’s post on NAHB’s recently released report, What Home Buyers Really Want, highlighted the most wanted kitchen features. This post provides more detail on the colors and finishes home buyers want for their kitchen appliances, cabinets, and countertops. The report is based on a nationally representative survey asking home buyers (people who bought homes in the previous three years… Read More ›
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Updated Snapshot of Local HBA Economics and Housing Statistics
NAHB recently updated the online tool that provides economic and housing market statistics for all local Home Builder Associations (HBAs). It covers twelve key economic and demographic statistics at three different levels, which allows local HBAs to easily compare local housing markets to other associations, state and/or national figures. Note that this unique data is organized according to HBA jurisdictional… Read More ›
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Top Challenges for Builders: Materials in 2018, Labor in 2019
Building material prices topped the list of problems builders faced in 2018, but cost and availability of labor is expected to return to the number one spot in 2019, according to special questions on the January survey for the NAHB/Wells Fargo Housing Market Index. The survey results showed that material prices were a significant issue for 87% of builders last… Read More ›
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Builder Confidence Holds Steady in March
Builder confidence in the market for newly-built single-family homes held steady at 62 in March, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builders report the market is stabilizing following the slowdown at the end of 2018, and they anticipate a solid spring home buying season. In a healthy sign for the housing market,… Read More ›
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Construction Job Openings Hold Steady In January
After significant data revisions for 2018, new data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings remained near a cycle high as of January, an indication that the skilled labor shortage continues into 2019. The open position rate (job openings as a percentage of total employment plus current job openings) held steady at 3.9%. The… Read More ›