Archive for April 2018

Personal Income Rises 0.3% in March

The most recent data release from the Bureau of Economic Analysis (BEA) showed that Personal income climbed 0.3% in March after increasing by the same margin in prior month. Gains in personal income are largely driven by increases in wages and salaries. This is in line with the report by the National Compensation Survey that wages and salaries for civilian… Read More ›

Pending Home Sales Increase Slightly in March

Pending home sales increased slightly in March, but the lack of choice among prospective buyers continues to impede the number of new contracts. The Pending Home Sales Index increased 0.4% in March, but remains 3.0% below the level a year ago, and the PHSI declined on an annualized basis for the third straight month. The Pending Home Sales Index (PHSI)… Read More ›

Nation’s Economy Grows in the First Quarter

In its first or “advance” estimate, the Bureau of Economic Analysis (BEA), reported that the nation’s economy, as measured by real gross domestic product (GDP), rose by 2.3 percent on a seasonally adjusted annual rate basis in the first quarter of 2018. This is the second consecutive quarter in which growth slowed. However, this is the fourth consecutive quarter in which… Read More ›

Most Buyers Don’t See Improvement in Housing Availability

The Housing Trends Report (HTR) is a new research product created by NAHB’s Economics team to track prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets.  Results are based on national polls conducted by Morning Consult.  This is the second in a series of posts highlighting results for the first quarter of 2018.  See… Read More ›

Job Growth Strongest Across States in the West and the South

According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 40 states and the District of Columbia, and decreased in 10 states in March 2018 compared to February 2018. Year-over-year, 48 states and the District of Columbia increased in employment while two states, Alaska and North Dakota lost payroll employment during this time. However, the gains across most… Read More ›

Homeownership Rate Stable at 64%

According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate was 64.2% in the first quarter 2018, which is statistically no different from its last quarter reading. The rate of homeownership appears to be on a sustainable upward trend after reaching a cycle low of 62.9% in the second quarter of 2016. Compared to the peak of… Read More ›

17% of Adults Plan to Buy Home in Next 12 Months; Many for the First-Time

This post releases the first edition of the Housing Trends Report (HTR), a new research product created by the NAHB Economics team with the goal of measuring prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets.  The HTR will be released quarterly in order to track changes in buyers’ perceptions over time.  All data… Read More ›

Home Price Appreciation Continued in February

In February, national home price appreciation continued, but at a slower pace than last month. Meanwhile, among all 20 metro areas which are covered by under the S&P/Case-Shiller Home Price Index, only Washington DC recorded growth that lagged the nationwide rate of appreciation. The S&P/Case-Shiller Home Price Indices released for February 2018 indicated that home prices nationwide, the National Home… Read More ›

New Home Sales Rise But With Underlying Variation

According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, sales of new homes rose by 4.0 percent over the month of March to reach a seasonally adjusted annual rate of 694,000. Year-to-date, covering the first quarter of 2018, the total number of new homes sold is 10.3 percent ahead of its pace over the first… Read More ›