Eye On Housing
Asking Prices of Apartments and Condominiums in the First Quarter of 2016
The US Census Bureau, along with the US Department of Commerce (DOC) and the US Department of Housing and Urban Development (HUD), fund and publish the Survey of Market Absorption (SOMA). The SOMA contains data on recently completed apartments and condominiums, including the asking rent and sale prices of these units. The median asking price of privately financed, unfurnished, nonsubsidized… Read More ›
Recent Posts
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Existing Home Sales Fell in August
Existing home sales, reported by the National Association of Realtors, soften further in August. Total existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined to a seasonally adjusted annual rate of 5.33 million units from a downwardly revised 5.38 million units in July. Existing single family sales fell to a seasonally adjusted annual… Read More ›
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August Construction Employment Growth by States
NAHB’s analysis of August regional employment data from the Bureau of Labor Statistics (BLS) shows that states with the highest annual growth rates of total construction employment are Iowa (18.68%), Hawaii (12.25%), and Colorado (11.31%). The total number of workers in construction reached 6.7 million nationwide, up by 3.13% annually. At the same time, the largest construction jobs gains happened… Read More ›
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FOMC Statement: All Eyes on December
The statement released following the September meeting of the Federal Open Market Committee (FOMC) fell in line with market expectations as the committee chose to keep the federal funds rate unchanged. The Committee’s assessment of the economy remained positive, leaving a December rate hike very much in play. In the statement, the Committee continued its upbeat assessment of labor and economic activity…. Read More ›
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Home Equity Growth Even as Homeownership Declines
According to the Federal Reserve Board’s second quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $22.290 trillion in the second quarter of 2016, $1.388 trillion higher than its level in the second quarter of 2015, $20.902 trillion. At the same time, home mortgage debt… Read More ›
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Housing Starts Pause in August
Single-family and multifamily housing starts posted declines in August after several months of gains. August single-family starts were down 6% from the July pace, falling back to a seasonally adjusted annual rate of 722,000. However, on a year-to-date basis, single-family construction is continuing at a rate that is 9% higher than this time in 2015. Part of the August decline… Read More ›
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Builder Confidence Surges in September
Builder confidence in the market for newly built, single-family homes in September jumped six points to 65 from a downwardly revised August reading of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This marks the highest HMI level since October 2015. With the inventory of new and existing homes remaining tight, builders are confident of positive market conditions… Read More ›
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Consumer Price Index in August – Strong Gain
The Consumer Price Index (CPI), released by the Bureau of Labor Statistics (BLS), rose in August. Headline inflation increased from negative to positive due to the strong gain in the core CPI. The Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 2.4% in August, after a 0.5% decrease in July. Excluding the volatile food and energy components,… Read More ›
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Friday Poll: Labor or Lots
Housing demand is in relatively solid shape, with a healthy labor market and low mortgage interest rates. However, lack of labor and lots are limiting the amount of new construction that can be added to inventory. In our first reader poll, tell us what you see in terms of supply-side headwinds. We’ll report the results next week.
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Building Materials Prices Continue to Climb
Inflation in prices received by producers (prior to sales to consumers) held steady in August after a striking 0.4% decline in July. The flat reading was the result of a 0.1% increase in prices for services combined with a 0.4% drop in goods prices, according to the latest Producer Price Index (PPI) release by the Bureau of Labor Statistics (more weight is… Read More ›