Data rss

How New Homebuyers Finance Their Homes Across the Nation

NAHB analysis of the Census Bureau Survey of Construction (SOC) data shows that non-conventional forms of financing new single-family home purchases remained elevated in 2014, but their use and mix varied widely across the country. In the West North Central division, only 21 percent of new homes started in 2014 were purchased using non-conventional financing methods. The share was twice… Read More ›

The Employment Situation in September – Loosening the Hawks’ Grip

Today’s employment report was disappointing on all fronts: weak payroll growth, downward revisions to prior months, and another decline in the participation rate. The unemployment rate was unchanged only because the labor force shrank faster than the number of employed persons. The Bureau of Labor Statistics (BLS) reported that payroll employment expanded by 142 thousand in September, well below expectations…. Read More ›

Residential Construction Spending Rose in August

NAHB analysis of Census Construction Spending data shows that total private residential construction spending for August continued to increase, rising to a seasonally adjusted annual rate of $390 billion. On a month-over-month basis, private single-family spending was $219 billion, up by 0.7% over the revised July estimate. Private multifamily spending increased to $53 billion, up by 4.8%, reversing the decline… Read More ›

Consumer Confidence Rebounded in September

The Conference Board released its Consumer Confidence Index for September. The index is a composite of separate indexes tracking consumers’ assessments of current business, income and employment conditions, as well as their expectations for the future. The Consumer Confidence Index increased to a level of 103.0 in September from 101.3 in August. The present situation index rose to 121.1 from… Read More ›

Eye on the Economy: New Homes Sales Continue Modest Rise

New home sales increased in August to a 552,000 seasonally adjusted annual rate, a 5.7% increase from an upwardly revised July. The August pace was the highest since February 2008. The steady, albeit modest, progression of new home sales reflects improvement for jobs and consumer confidence, with home buyers taking advantage of historically low mortgage rates. The inventory of homes… Read More ›

Existing Home Sales vs. Home Prices

The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller (CS) recently released their respective home price indexes for July. The FHFA index shows house price appreciation accelerated to a seasonally adjusted annual rate of 7.3% in July. The CS index shows house prices rose at an annual growth rate of 4.6% in July. Both indexes have been rising… Read More ›

Sale and Contract Prices per Square Foot in 2014

For single-family homes started in 2014, median prices, excluding improved lot values, range from $159 per square foot for contractor-built homes in the Pacific and New England divisions to $80 per square foot for speculatively-built homes in the East South Central division. The most expensive new single-family homes in 2014 were contractor-built homes in the Pacific and New England divisions with the… Read More ›

Pending Sales Retreat

The Pending Home Sales Index decreased in August, but has increased year-over-year for 12 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 1.4% in August, but is up 6.1% from the same month a year ago. While increasing in the West, the PHSI declined… Read More ›

Americans Spent $150 billion on Home Improvements & Repairs in 2013

If one wanted to understand the characteristics of the housing stock in the US, including its size, composition, physical conditions, home improvements, characteristics of recent movers, and housing costs, the American Housing Survey (AHS) would be the place to go. The AHS is conducted every other year by the Census Bureau and sponsored by the Department of Housing and Urban… Read More ›