Data rss

Banks Report Continued Tightening on Multifamily, AD&C Loans

Credit standards on loan applications for commercial real estate loans (CRE), which includes land development and construction, multifamily, as well as nonfarm nonresidential loans, tightened over the first quarter of 2016. Moreover, the pace of tightening in each of these types of CRE loans has progressively grown over the past year. More specifically, banks indicate that tightened lending standards over… Read More ›

The Five Local HBAs with the Lowest Owner Vacancy Rates

NAHB recently updated the online tool that provides economic and housing market statistics for all local Home Builder Associations (HBAs). It covers twelve key economic and demographic statistics at three different levels, which allows local HBAs to easily compare local housing markets across the country. This post focuses on the five local HBAs with the lowest homeowner vacancy rates (i.e…. Read More ›

Multifamily Spending Continues Record Breaking Pace

March multifamily residential construction spending had significant gains from one year ago. NAHB analysis of Census Construction Spending data shows that total private residential construction spending for March increased to a seasonally adjusted annual rate of $435.5 billion, up by 1.6% over February’s revised estimate. Meanwhile nonresidential construction spending declined 0.4% after two consecutive monthly increases. Within private residential construction… Read More ›

Personal Income Edges Up, Driven by Wages

Personal income increased by $57.4 billion in March, growing at a seasonally adjusted annual rate of 0.4%, according to the most recent data release from the Bureau of Economic Analysis. Personal income growth was mostly driven by the rise in compensation of employees ($34.6 billion) and assets revenue ($12.6 billion). Disposable personal income – income remaining after deducting personal income… Read More ›

Federal Open Market Committee April Meeting – Language Please

To no one’s surprise the FOMC left the federal funds rate unchanged; the language used to communicate the (non-)action hedged. The Federal Reserve’s monetary policy setting committee, the Federal Open Market Committee (FOMC), concluded the April meeting and released the statement announcing no change in the federal funds rate, maintaining the current 0.25% to 0.50% target range. The statement went… Read More ›

Pending Sales Increase

The Pending Home Sales Index increased 1.4% in March to the highest level in since last May, and has increased year-over-year for 19 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 110.5 in March from a downwardly revised 109.0 in February, and was… Read More ›

Consumer Confidence Slipped in April

The Consumer Confidence Index, reported by the Conference Board, slipped in April. The Consumer Confidence Index declined slightly to 94.2 in April, from 96.1 in March. The present situation index rose to 116.4 in April, from 114.9 in March; the expectations index dropped to 79.3 in April, from 83.6 in March. Compared with last month, in April consumers were more… Read More ›

Home Prices in February – A More Sustainable Pace

The Case-Shiller (CS) National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 5.0% in February, down from 5.8% in January. The Home Price Index from the Federal Housing Finance Agency (FHFA) rose at a seasonally adjusted annual rate of 4.8% in February, following 4.9% in January. After the boom and… Read More ›