Author Archives

  • Housing Production Rebounds

    SF Completions (000s)

    Builders started production on 1,178,000 homes in February on a seasonally-adjusted annualized basis. That is a 5.2% increase over a modest slump in January and a 30.9% increase from last February. The increase was broad based with both single-family increasing 7.2% to its highest level since November 2007 and multifamily virtually unchanged at a 0.8% increase. As further evidence of… Read More ›

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  • Builders Hold Steady

    HMI Components

    Builders’ sentiment remained unchanged in March at 58. The NAHB/Wells Fargo Housing Market Index (HMI) has been between 52 and 65 since July 2015. Any value above 50 means more builders are seeing improvement rather than decline. The component index measuring current sales was also unchanged at 63 and the component measuring expectations was down three points to 61. The… Read More ›

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  • New Home Sales Pause

    New Home Sales and Inventory

    Consumers signed contracts to purchase new homes at an annual rate of 494,000 in January. The monthly number is 9.2% below the December level but the December report was higher than expected. The two month average is 519,000, which is more in line with expectations and trend. Two regions increased and two declined with the West falling 32.1% to 110,000…. Read More ›

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  • Builders React to Consumer Worries

    HMI & Sales

    Builders’ sentiment for February lost 3 points from an upwardly revised January level. The NAHB/Wells Fargo Housing Market Index was 58 in February, still well above the tipping point of 50 and 3 points above last February but down from a recent peak of 65 in October 2015. Builders reported more consumer concern over the price of new homes relative… Read More ›

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  • Home Sales Finish Year Up

    New Home Sales

    New homes sales were up 10.8% in December to 544,000 on a seasonally-adjusted annual basis (SAAR) and finished 2015 just past half million (501,000) for the best year since 2007. The increase in signed contracts to purchase a new home comes as mortgage rates remain very low by historic standards and the US economy continues to gain strength. Sales were… Read More ›

  • Home Construction Up for 2015

    Housing Starts

    With the December report on housing starts and permits, preliminary totals for 2015 are now available. Total housing starts at 1.11 million were up 10.8% in 2015 compared to 2014. Single-family starts were up 10.4% to 715,300 and multifamily starts were up 11.4% to 396,000. All four census regions also experienced increases in single-family starts for 2015. The monthly change… Read More ›

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  • New Home Sales Nudge Forward

    New Home Sales – Monthly and Annual

    The number of new homes sold in November increased by 4.3% from a downwardly revised October level to 490,000 on a seasonally adjusted annual basis. On a year to date level, sales are up 14.5% from the eleven month total in 2014. Inventories of new homes also increased to 232,000, the highest since January 2010 even as builders continue to… Read More ›

  • Solid November Housing Report

    Single-family Starts (000)

    Housing starts and permits had double digit positive moves in November as reported by the Census Bureau and HUD. The November starts figures rebounded from a low October level but still managed to exceed half of the monthly levels reported for 2015. Single-family starts were up 7.6% to 768,000, their highest level since January 2008. Every region except the Midwest… Read More ›

  • Builders’ Sentiment Steady

    HMI & Starts

    Single-family home builders sentiment remained near the same level established in June 2015. The NAHB/Wells Fargo Housing Market Index fell one point to 61 in December. The index has been between 60 and 62 for six of the last seven months with only October rising briefly to 65. The three components mirrored the trend with current sales falling one point… Read More ›

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  • New Home Sales Rebound

    New Homes Sales and Inventory (000s)

    Census and HUD reported new homes sales for October rebounded from their unexpected low in September to a level of 495,000 on an annual basis. This is a 10.7% increase from the revised September, a 1.6% increase from the third quarter average and a 15.7% increase in year-to-date not seasonally adjusted levels from last year. Regionally, only the West experienced… Read More ›