Eye On Housing
Author Archives
-
Private Residential Spending Grew in February
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate of $533.4 billion in February, a gain of 0.1% from the upwardly revised estimate of January. Over the past 12 months, total private residential construction spending was up 5.5%. The monthly gains are largely attributed to the large increase… Read More ›
-
Saving Rate Rises to 3.4% in February
According to the most recent data release from the Bureau of Economic Analysis, savings increased to $497 billion in February, the highest level since August 2017. The U.S. saving rate rose to 3.4% from 3.2% in January. It was the second consecutive increase after a relatively low 2.5% in December last year. As shown in the graph below, the savings… Read More ›
-
Real Disposable Income Rises Strongly in January
Real disposable income, income after adjusted for taxes and inflation, increased 0.6% in January after a 0.2% rise in the prior month. This is the biggest increase since April 2015, as tax reform related bonuses helped income growth in January. According to the most recent data release from the Bureau of Economic Analysis, personal income was up by 0.4% in… Read More ›
-
January Gains in Single-Family Construction Spending
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $529.9 billion in January 2018, up by 0.3% after a decline of 0.5% in December 2017. Compared to the same month a year ago, total private residential spending increased 4.2%. The monthly gains are largely attributed to… Read More ›
-
Private Residential Spending Reaches Cycle High
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.5% in December to a seasonally adjusted annual rate of $526.1 billion, the highest level since March 2007. Total private residential construction spending rose 6.2% last year, after increasing 12.5% in 2016. The monthly gains are largely attributed to the increase in multifamily construction spending…. Read More ›
-
Strong Owner Household Formation Brings Homeownership Rate Up
The U.S. homeownership rate stands at 64.2% in the fourth quarter 2017, up from 63.7% a year ago and 63.9% last quarter, according to the Census Bureau’s Housing Vacancy Survey (HVS). After dropping to a cycle low of 62.9% in the second quarter 2016, the national homeownership rate seems to be on a sustainable upward trend now. Compared to the… Read More ›
-
Saving Rate Hits the Lowest Level Since 2005
The US saving rate dropped to 2.4%, according to the most recent data release from the Bureau of Economic Analysis. It is the lowest level since September 2005 and a direct result of US consumer spending rising faster than income. It has been on the downward path since 2016 when rising consumption contributed to fueling economic growth. Personal consumption expenditures… Read More ›
-
Single-Family Homes Make Up 1/3 of Rental Stock
The 2016 American Community Survey shows that renters occupied 43.8 million residences in 2016. Of these rental homes, 34.8% are one-unit single-family homes (attached and detached), 17.7% are 2- 4 unit structures. Therefore, more than half of all renters, approximately 53%, lived in buildings with less than 5 units in 2016. Single-family homes made up a substantial share of rentals… Read More ›
-
Private Residential Spending Is On the Rise
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1% in November to a seasonally adjusted annual rate of $530.8 billion. It was the highest level since February 2007. Total private residential construction spending was 7.9% higher than a year ago. The monthly gains are largely attributed to the strong growth of spending on… Read More ›
-
Consumer Spending Up, Saving Rate Down
The most recent data release from the Bureau of Economic Analysis shows that personal consumption expenditures increased 0.6% in November following a downwardly revised increase of 0.2% in October. Adjusted to remove the price change, real personal spending was up by 0.4% after being virtually unchanged in October. This increase is mostly due to a higher spending on nondurable goods…. Read More ›