Eye On Housing
Author Archives
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US Economic Growth Slows in Third Quarter
According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) expanded at an annual rate of 1.9% in the third quarter of 2019, down slightly from a 2.0% increase in the second quarter of 2019 but above NAHB’s forecast of 1.5%. This marks the 22nd consecutive quarter of growth, but the fifth… Read More ›
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Home Prices Increased in August
National home prices increased modestly in August. New York and Las Vegas experienced price declines while Phoenix led the way with a 9.1% annual growth rate in August. 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 4.2% in August, following an increase of 2.1% in July…. Read More ›
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New Home Sales Remain Solid in September
Contracts for new, single-family home sales inched down 0.7% in September to a 701,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The decline came off a downwardly revised August estimate, which was decreased from an initial reading of 713,000 to a new estimate of 706,000. Year-over-year, the September estimate is… Read More ›
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Consumer Prices Were Unchanged in September
The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) was unchanged in September on a seasonally adjusted basis, after a 0.1% increase in August. Excluding the volatile food and energy components, the “core” CPI increased by 0.1% in September, following a 0.3% increase for three straight months (June, July and August). Over the month of September,… Read More ›
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Single-Family Starts Growth Slowed in Six Divisions
According to NAHB analysis of the Survey of Construction (SOC), nationally, there were 881,076 new single-family units started in 2018, 4% higher than the units started in 2017. It was the double of the units started in 2011, and still 49% less than the peak of 2007 (1,731,171 units). Among all the nine Census divisions, new single-family units started in… Read More ›
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Unemployment Falls to 3.5% in September
The job market is slowing but still showing solid gains as total employment increased by 136,000 and the unemployment rate declined by 0.2 percentage points to 3.5%. Residential construction employment increased by 3,400 in September, after an increase of 100 jobs in August (revised). Total construction industry (both residential and nonresidential) employment totaled about 7.5 million in September. The Bureau… Read More ›
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Home Price Appreciation Unchanged in July
In July, national home prices continued to grow at the same pace as in June. Three metro areas, including New York, Los Angeles and Washington DC, experienced home price declines for the month. 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 1.7% in July, unchanged from… Read More ›
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CPI Growth Slows in August
In August, headline inflation rose slower relative to July, while core inflation remained unchanged. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.1% on a seasonally adjusted basis in August, slower than the 0.3% increase in July. Excluding the volatile food and energy components, the “core” CPI increased by 0.3% in August, the… Read More ›
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Job Gains Slowed in August
In August, total nonfarm payroll employment increased by 130,000, while the unemployment rate stayed at 3.7%. Residential construction employment increased by 2,300 in August, after an increase of 4,900 jobs in July. The total construction industry (both residential and nonresidential) employment totaled about 7.5 million in August. According to the Employment Situation Summary for August, released by the Bureau of… Read More ›
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Home Price Appreciation Slows in June
National home price appreciation continued to slow in June. Three metro areas, including New York, Miami and Seattle, experienced home price declines for the month. The Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices slowed to a 1.9% seasonally adjusted annual growth rate in June, from 2.4% in May. On a year-over-year basis, the Case-Shiller U.S…. Read More ›