Data rss

NAHB Completes Landmark 800th Local Impact Study

In January, NAHB produced a study on the impact of home building in the nine-county Kansas City metropolitan area.  Like earlier studies, the one for Kansas City estimated the income, jobs and taxes generated by home building activity in the area.  However, the Kansas City study is especially notable because it marks the 800th such customized report NAHB has produced… Read More ›

Further Signs of Normalization in House Price Growth

The recent release by the Federal Housing Finance Agency (FHFA) shows that its measure of house prices, House Price Index – Purchase Only, rose by 5.4% on a 12-month seasonally adjusted basis in December 2014. This marks the 35th consecutive month of year-over-year growth. Over this nearly three-year period, house prices have risen by 20.0% and have now surpassed their November 2005 level…. Read More ›

GDP Growth in the Fourth Quarter – Second Estimate

The Bureau of Economic Analysis (BEA) released its second estimate of real GDP growth for the fourth quarter of 2014. Growth in economic output was revised downward to a seasonally adjusted annual rate of 2.2% from an “advance” estimate of 2.6%. The second estimate is based on more complete information than was available for the initial estimate. The slower pace… Read More ›

Retreat

Both the University of Michigan Index of Consumer Sentiment and the Conference Board Consumer Confidence Index declined in February after soaring to cyclical highs in January. The Index of Consumer Sentiment Index decreased to 95.4 in February from 98.1 in January, but was up from 81.6 during February 2014. The Consumer Confidence Index decreased to 96.4 in February from 103.8… Read More ›

Pending Sales Resume Upward Trend

The Pending Home Sales increased 1.7% in January, and was up 8.4% from the same period a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 104.2 in January, up from an upwardly revised  102.5 in December. The PHSI increased year-over-year for the fifth… Read More ›

Average New Home Loan Rate Dips Below 4 Percent

Earlier today, the Federal Housing Finance Agency (FHFA) reported a 10 basis point decline in mortgage interest rates for the month of January.  Looking into the data a little further shows that the story was essentially the same for the subset of mortgages used to purchase newly built homes, On conventional mortgages for new homes, FHFA tables show the average… Read More ›

Builder Sentiment about Multifamily Remains Positive

Builder and developer sentiment about the multifamily market held steady in the fourth quarter, according to results from NAHB’s  Multifamily Production Index (MPI) released earlier today. The overall MPI—a composite measure of sentiment about production of low-rent apartments, market-rate rental apartments and condominiums—was unchanged at 54 in the fourth quarter. The MPI and each of its components is an index… Read More ›

Share of Delinquent Mortgages Continues to Fall

According to the most recent release of the Mortgage Bankers Association’s National Delinquency Survey, the share of mortgages that are considered delinquent continued to fall. On a seasonally adjusted basis, the share of mortgages past due declined to 5.68% in the fourth quarter of 2014, 17 basis points from the third quarter of 2014 and 71 basis less than its… Read More ›

Eye on the Economy: A Slow Start for 2015

Housing and residential construction have gotten off to a slow start at the beginning of the year. January data have been disappointing, although current indicators continue to suggest home building will grow in the year ahead. In particular, solid job growth and historically low mortgage rates should help unleash growing pent-up demand and keep the housing market moving forward. Home… Read More ›

January New Home Sales Maintain December Pace

Despite some analysts’ expectations of a monthly decline, the rate of new home sales in January maintained the gains reported in the December report. Combined with upward revisions, the effectively flat monthly change from December to January keeps new home sales near post-recession highs. According to estimates from the joint Census Bureau and HUD release, the January pace of new… Read More ›