Eye On Housing
Author Archives
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Core Inflation Unchanged in April
In April, core inflation remained unchanged. And, overall inflation decreased as increases in energy prices slowed and the food index fell. On a seasonally adjusted basis, the Consumer Price Index (CPI), released by the Bureau of Labor Statistics (BLS), rose by 0.3% in April, after a 0.4% increase in March. Excluding the volatile food and energy components, the “core” CPI… Read More ›
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263,000 Jobs Added in April
Total nonfarm payroll employment increased by 263,000 in April, while the unemployment rate declined to 3.6%. Residential construction employment increased by 600 in April, after the increase of 11,200 jobs in March. The total construction industry (both residential and nonresidential) gained 33,000 jobs in April. According to the Employment Situation Summary for April, released by the Bureau of Labor Statistics… Read More ›
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Home Price Gains Slowed in February
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 3.8% in February, following the increase of 3.2% in January. On a year-over-year basis, the Case-Shiller U.S. National Home Price NSA Index rose by 4.0% in February, down from 4.2% in January. It was the lowest annual gain… Read More ›
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US Economic Growth Surprises to Upside in First Quarter
According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 3.2% in the first quarter of 2019, faster than the 2.2% increase in the fourth quarter of 2018 and above NAHB’s forecast. It is the 20th consecutive quarter of growth. Since the first quarter of 2017,… Read More ›
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Energy Prices Rose Sharply in March
The Bureau of Labor Statistics (BLS) released the Consumer Price Index for March. On a seasonally adjusted basis, the Consumer Price Index (CPI) rose by 0.4% in March, after a 0.2% increase in February. Excluding the volatile food and energy components, the “core” CPI increased by 0.1% in March, the same increase as in February. The price index for a… Read More ›
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Monthly Employment Growth Improved in March
Total payroll employment increased by 196,000 in March, while the unemployment rate was unchanged at 3.8%. Residential construction employment increased by 12,200 in March, after the decline of 8,100 jobs in February. The total construction industry (both residential and nonresidential) gained 16,000 jobs in March. According to the Employment Situation Summary for March, released by the Bureau of Labor Statistics… Read More ›
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Annual Home Price Growth Slows in January
National home price appreciation continued to slow at the beginning of 2019. Three metro areas in California (San Francisco, Los Angeles and San Diego), Cleveland and Chicago experienced home price declines in January. 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 2.8% in January, after rising… Read More ›
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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 ›