Eye On Housing
Author Archives
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Consumer Prices Rose in February
Consumer prices rose modestly in February, reflecting increases in energy prices and the food index. The Bureau of Labor Statistics (BLS) released the Consumer Price Index for February. On a seasonally adjusted basis, the Consumer Price Index (CPI) rose by 0.2% in February after being unchanged for three consecutive months, as shown in Figure 1. Excluding the volatile food and… Read More ›
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Job Growth Weakened in February
After a strong gain, monthly growth in payroll employment slowed sharply in February. Total payroll employment increased by 20,000 in February, while the unemployment rate decreased to 3.8%. Residential construction employment decreased by 10,900 in February, after the 22,500 increase in January and the decline of 900 jobs in December 2018 due to the downwardly revised December data. The total… Read More ›
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Increase in Housing Wealth
Home owners’ equity in real estate improved as home prices continue to increase and mortgage debt expands slowly. Previous analysis of household balance sheets from the 2016 Survey of Consumer Finances (SCF) indicated that the primary residence was the largest asset category on the balance sheets of households in 2016 and it accounted for about one quarter of all assets… Read More ›
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Home Price Growth Slows in December
In December, national home price appreciation continued, but at a slower pace than last month. Three metro areas, including San Francisco, Seattle and San Diego, experienced home price declines in December. The Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 3.2% in December, less than the 4.5%… Read More ›
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U.S. GDP Increases 2.6% in the Fourth Quarter
After a 3.4% rise in the third quarter, the nation’s economy grew at a slower pace in the fourth quarter of 2018. According to the “initial” estimate1 released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 2.6% in the fourth quarter of 2018, slower than the previous two quarters. It… Read More ›
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Energy Prices Continue to Fall
The CPI was unchanged in January. The decrease in energy prices in January offset increases in the “core” CPI and the food index. The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), was unchanged in January on a seasonally adjusted basis. The CPI remained unchanged for the third consecutive month. Over the past twelve months, on… Read More ›
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Strong Job Growth Continues in January
The U.S. economy entered 2019 with a strong gain in payroll employment. Total employment increased by 304,000 in January, while the unemployment rate edged up to 4.0%, reflecting the impact of the partial government shutdown. Residential construction employment increased by 23,900 at the beginning of 2019, the largest gain since February 2018. The total construction industry (both residential and nonresidential)… Read More ›
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Home Price Appreciation Unchanged in November
In November, national home prices rose at the same annual growth rate as in October. Three metro areas, including San Francisco, Seattle and San Diego, experienced home price declines in November, while home prices in Los Angeles were unchanged. The Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate… Read More ›
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CPI Slipped in December
In December, a big drop in energy prices dragged down headline inflation below zero, while core inflation remained steady. The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), declined by 0.1% in December on a seasonally adjusted basis, after being unchanged in November. The “core” CPI, which excludes the volatile food and energy components, increased by… Read More ›
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Job Growth Surged in December
At the end of 2018, job growth surged. Total employment increased by 312,000 in December and the unemployment rate rose to 3.9%; however, this increase was good news because it was generated by growth in the labor force. Residential construction employment increased by 1,700 in December. The total construction industry (residential and nonresidential) added 280,000 jobs in 2018, more than… Read More ›