Eye On Housing
Author Archives
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Economic Growth Accelerates
In the second quarter of 2018, the nation’s economy grew at a faster pace than in the first quarter. According to the “advance” estimate released by the Bureau of Economic Analysis, real gross domestic product (GDP) increased at an annual rate of 4.1 percent in the second quarter of 2018. It was the strongest quarter of growth since the third… Read More ›
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Most Areas See Growth in Single-Family Starts
NAHB analysis of the Survey of Construction (SOC) shows that, nationally, there were 847,830 new single-family units started in 2017, 9% higher than the units started in 2016. Among all of the nine Census divisions, new single-family units started in the South Atlantic, West South Central and Mountain Divisions exceeded 100k in 2017. These three divisions represent 21 states, approximately… Read More ›
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Women Enter the Labor Force in June
According to the Employment Situation reported by the Bureau of Labor Statistics (BLS), in June, jobs increased by 213,000 and the unemployment rate rose to 4.0% due to the increase in the number of unemployed persons. The labor force participation rate rose by 0.2 percentage point to 62.9%. The release also indicates that the number of construction jobs rose by… Read More ›
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Consumers’ Expectations Eased in June
The Conference Board’s Consumer Confidence Index decreased in June, following an increase in May. The June decline in the Consumer Confidence Index was driven mainly by a sharp decline in the Expectations Index. While the Present Situation Index declined modestly, by 0.1% from an index reading of 161.2 in May to 161.1 in June, the Expectations Index dropped by 3.7%… Read More ›
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Home Price Growth Slows
National home price appreciation rose at a slower pace in April as more than half of metro areas experienced a deceleration in price growth. However, since 2014, deceleration in price growth nationwide has been followed by a re-acceleration. Nevertheless, three metro areas, New York, San Francisco, and Washington D.C., typically considered higher house price areas, recorded outright declines in house… Read More ›
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Homeowners’ Equity Reaches a New High
Over the first quarter of 2018, the value of owners’ equity in real estate expended and hit a new high on a nominal and not seasonally adjusted basis, according to the Financial Accounts of the United States for the first quarter of 2018. This data is published by the Board of Governors of the Federal Reserve System. On a nominal… Read More ›
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Residential Construction Industry Contributes to Monthly Job Growth
The Bureau of Labor Statistics (BLS) reported the Employment Situation for May 2018. Jobs increased by 223,000 and the unemployment rate edged down to 3.8% in May. The growth rate of average hourly earnings accelerated slightly to 2.7%, but growth has largely been flat since 2016. The release also indicates that the number of construction jobs rose by 25,000 in… Read More ›
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Home Price Appreciation Rose at a Slower Pace in March
National home price appreciation rose at a slower pace in March as most metro areas experienced a deceleration in price growth. S&P Dow Jones Indices released the Home Price Index for March. The Case-Shiller U.S. National Home Price Index rose at a seasonally adjusted annual growth rate of 5.4% in March, slower than the 6.8% increase in February. The purchase-only… Read More ›
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Modest Job Gains in April
The Bureau of Labor Statistics (BLS) reported the Employment Situation for April 2018. In April, job gains increased by 164,000 and the unemployment rate fell to 3.9%, the lowest rate since 2001. Total nonfarm payroll employment rose by 164,000 in April, slightly faster than the increase of 135,000 jobs in March. The March increase was revised up from its original… Read More ›
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Home Price Appreciation Continued in February
In February, national home price appreciation continued, but at a slower pace than last month. Meanwhile, among all 20 metro areas which are covered by under the S&P/Case-Shiller Home Price Index, only Washington DC recorded growth that lagged the nationwide rate of appreciation. The S&P/Case-Shiller Home Price Indices released for February 2018 indicated that home prices nationwide, the National Home… Read More ›