Eye On Housing
Author Archives
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CPI Growth Slows in September
Headline inflation rose slower in September relative to August, while core inflation was unchanged. The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), rose by 0.1% on a seasonally adjusted basis in September, slower than the 0.2% increase in August. The “core” CPI, which excludes the volatile food and energy components, increased by 0.1% in September,… Read More ›
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Unemployment Falls to 3.7% in September
The labor market continues to be very strong as total employment increased by 134,000 and the unemployment rate declined by 0.2 percentage point to 3.7% in September. Residential construction employment increased by 4,400 and has risen by 139,600 over the last 12 months. In September, total nonfarm payroll employment rose by 134,000, following the increase of 270,000 jobs in August,… Read More ›
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New Homes Built with Private Wells and Individual Septic Systems in 2017
NAHB Economics analysis of the Survey of Construction (SOC) data shows that about 9% of new single-family homes started in 2017 were served by individual wells and more than 16% have private septic systems. These shares, however, vary widely across the nine Census divisions with the corresponding shares reaching 39% and 43% in New England – the highest occurrence rates… Read More ›
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Consumer Confidence Reaches 18-Year High
Consumer confidence continued to rise in September, after a big increase in August. Currently, consumers are quite optimistic about both the current situation and the near-term outlook. The Consumer Confidence Index, reported by the Conference Board, increased to 138.4 in September, from 134.7 in August. It has surpassed the 2007 peak of 111.9 and spiked to the highest level since… Read More ›
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Home Price Growth Slowed in July
The S&P/Case-Shiller and the Federal Housing Finance Agency (FHFA) released their home price indices for July 2018. National home prices rose at the slowest annual growth rate since June 2014. Moreover, seven metro areas experienced home price declines in July. The Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth… Read More ›
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A Modest Increase in the “Core” CPI in August
The CPI increased by 2.7% at a seasonally adjusted annual rate while the “core” CPI rose modestly in August. The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), rose at a seasonally adjusted annual rate of 2.7% in August, after the 2.1% increase in July. Excluding the volatile food and energy components, “core” CPI increased at… Read More ›
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Stronger Growth for Residential Construction Employment in August
In August, jobs increased by 201,000 and the unemployment rate remained at 3.9%. Employment in residential construction continued to trend up. Over the month of August, total nonfarm payroll employment rose by 201,000, after the increase of 147,000 jobs in July, according to the Employment Situation reported by the Bureau of Labor Statistics (BLS). The July increase was revised down from… Read More ›
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House Price Appreciation Slows in June
National home prices rose at a slower pace in June while local home price gains varied. Home prices in New York, Detroit and Chicago declined. 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 June, similar to the annual growth rate in May. It was… Read More ›
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The Unemployment Rate Drops in July
According to the Employment Situation reported by the Bureau of Labor Statistics (BLS), in July, jobs increased by 170,000 and the unemployment rate edged down to 3.9%. The labor force participation rate remained unchanged at 62.9%. The release also indicates that the number of construction jobs rose by 19,000 in July, after the 13,000 increase in June. Residential construction employment… Read More ›
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Home Price Appreciation Continues in May
National home price appreciation grew faster in May as eleven metro areas experienced an acceleration in price growth. Two metro areas, New York and Detroit, typically considered higher house price areas, recorded outright declines in house prices. The Case-Shiller U.S. National Home Price Index, released by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 4.9%… Read More ›