Data rss

GDP and FOMC – How Do You Spell Relief?

An almost audible sigh of relief is conveyed in the statement that followed the July meeting of the Federal Open Market Committee (FOMC) as the committee upgraded its assessment of the economy and the Bureau of Economic Analysis (BEA) released estimates of economic activity for the April to June quarter, including 4.0% growth in GDP. The BEA reported that real… Read More ›

House Prices Have Room to Grow, For Real

House price growth has been slowing in recent months, but still remains well above the rate of general inflation. For instance, annual growth in the S&P/Case-Shiller 20-City Composite home price index eased for the sixth consecutive month in May to 9.3% while the Federal Housing Finance Agency’s (FHFA) Purchase-Only house price index slowed to a 5.6% increase. Both these measures were… Read More ›

Homeownership Rate Continues to Decline

The seasonally adjusted national homeownership rate fell to 64.8% during the second quarter of 2014. This marks a drop of 4.6 percentage points since the peak rate of 69.4% during the second quarter of 2004, according to the Census Bureau’s quarterly survey. The homeownership rate declined by 0.3 percentage points year-over-year. The current rate is also below the 20-year historical… Read More ›

Pending Sales Skip a Beat

Pending home sales fell 1.1% in June, breaking a three month streak of improvement after a dismal winter. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 1.1% in June to 102.7 from a downwardly revised May level of 103.8. The June reading was down 7.3% on… Read More ›

New Home Sales: Cash Purchases on the Rise

The share of new single-family home sales purchased with cash rose during the second quarter of 2014, reaching 8.4% of sales. The onset of the housing crisis in 2007 led to a decline in the share of new home sales due to conventional mortgage financing and increases in the shares due to mortgages backed by the FHA and the Department of Veteran’s… Read More ›

Remodelers’ Confidence Recovers in the Second Quarter

NAHB’s Remodeling Market Index (RMI) rose three points to 56 in the second quarter of 2014; essentially reclaiming the territory it had lost during what was likely a weather-related dip in the fist three months of the year.The RMI is based on a quarterly survey of NAHB remodelers, and is an average of separate indices for remodelers’ ratings of current… Read More ›

Existing Sales Pass 5 Million

Existing home sales continued to increase from the winter quarter and passed the 5 million mark for the first time since October 2013. This increase is positive news for future new home sales because each prospective repeat buyer must sell their existing home before buying a newly built home. Existing home sales increased 2.6% in June, but are still 2.3%… Read More ›

Green Building Certification

Among single-family builders, the National Green Building Standard (NGBS) is the most commonly used green building certification. McGraw Hill Construction’s data and analytics team surveyed a set of NAHB single-family and multifamily members in 2013. From 2011 to 2013, the percentage of single-family firms using the NGBS has grown from 21% to 30%. In contrast, 13% of single-family builders reported use… Read More ›