Eye On Housing
Author Archives
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Lower Interest Rates, Rising Consumer Confidence Boost Builder Sentiment
Builder confidence in the market for newly-built single-family homes rose four points to 62 in February, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Ongoing reduction in mortgage rates in recent weeks coupled with continued strength in the job market are helping to fuel builder sentiment. In the aftermath of the fall slowdown, many… Read More ›
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Construction Job Openings Jump in December
Despite the housing-focused slowdown during the second half of 2018, the count of unfilled jobs in the construction sector surged in December. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs increased to a cycle high of 382,000 in December. This is significantly higher than the December 2017 estimate of… Read More ›
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Unexpected Gain for New Home Sales in November
Data for November indicated a surprise gain for the seasonally adjusted annual rate of new single-family home sales. The data was delayed due to the partial government shutdown. Survey data, including builder confidence, suggest December estimates, when published, will show market weakness however. Contracts for new, single-family home sales increased almost 17% to a 657,000 seasonally adjusted annual rate according to… Read More ›
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Fed Pursues Patience
As expected, the Federal Reserve’s monetary policy body, the Federal Open Market Committee, unanimously agreed to hold steady the federal funds top rate at 2.5%. The Fed’s January statement was consistent with recent policymakers’ comments suggesting a more flexible stance toward monetary policy at the end of last year and the start of 2019. In particular, the statement indicated that… Read More ›
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Lower Interest Rates Stabilize Builder Confidence
Buoyed by falling mortgage rates, builder confidence in the market for newly-built single-family homes rose two points to 58 in January on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The gradual decline in mortgage rates in recent weeks helped to sustain builder sentiment. Low unemployment, solid job growth and favorable demographics should support housing demand in… Read More ›
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Construction Job Openings Decline in November
The count of unfilled jobs in the construction sector decreased in November, as building activity declined with higher interest rates at the end of 2018. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs fell to 278,000 in November. The October estimate was revised up to a cycle… Read More ›
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Top Posts: Time Needed to Build a Single-Family Home in 2017
With the end of 2018 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In July, Na Zhao examined construction build times for single-family homes. The 2017 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 7.5 months, which usually includes almost a month… Read More ›
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Top Posts: Home Features Buyers Consider Essential
With the end of 2018 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In March, Rose Quint analyzed consumer preference survey data. NAHB regularly conducts national polls of American adults and home buyers in order to understand new trends and preferences in the housing market. This is the fourth in a series of posts… Read More ›
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Top Posts: Highest Paid Occupations in Construction
With the end of 2018 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In June, Natalia Siniavskaia analyzed construction wage data. According to the most recent release of the Occupational Employment Statistics (OES) by the Bureau of Labor Statistics (BLS), half of payroll workers in construction earn more than $45,820. In comparison, the US median wage is… Read More ›
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Top Posts: Time Needed to Build a Single-Family Home in 2017
With the end of 2018 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In July, Na Zhao analyzed data concerning popular floor plans. The 2017 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 7.5 months, which usually includes almost a month from authorization… Read More ›