Data rss

April Gains for Residential Construction Spending

NAHB analysis of Census construction spending data finds that the pace of residential construction spending improved on both a monthly and year-over-year basis for April. For the month, the seasonally adjusted annual rate of single-family construction spending was $206 billion, up 1.6% from March. The April rate of multifamily construction spending was $51 billion, 3.1% higher than March. On a year-over-year basis, the pace of single-family construction spending… Read More ›

Housing Recovery – Prices and Production

The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller recently released the Home Price Index (HPI) for March. The price index reported by the Federal Housing Finance Agency (FHFA) decelerated in March, slowing to an annualized growth rate of 4.2% from 7.8% in February. Monthly growth rates have been volatile but have trended down since the recent peak… Read More ›

Consumer Confidence Zigzags in 2015

Consumer sentiment and consumer confidence are two indexes showing consumers’ perceptions of current business, income and employment conditions, as well as their expectations for the future’s economy. They are both highly (inversely) correlated with the unemployment rate. Based on the data from the past three decades, the Consumer Confidence Index and the Consumer Sentiment Index increase when the unemployment rate… Read More ›

Pending Existing Homes Sales Reaches Nine-Year High

The NAR Pending Home Sales Index increased for the fourth straight month in April to a level 14% above April of 2014. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts produced by the National Association of Realtors (NAR), increased 3.4% in April to 112.4, up from an upwardly revised 108.7 in March. The PHSI increased year-over-year for the eighth consecutive… Read More ›

AD&C Loan Growth at the Start of 2015

The volume of residential AD&C loans outstanding expanded 4.8% during the first quarter of 2015, marking the 8th consecutive quarter of growth. The tight availability of acquisition, development and construction (AD&C) loans has been a factor holding back a stronger rebound in home construction. According to data from the FDIC and NAHB analysis, the outstanding stock of 1-4 unit residential construction loans made… Read More ›

Lot Shortage: A Lingering Problem for Builders

In a May 2015 survey conducted by NAHB, 62 percent of builders reported that the overall supply of developed lots in their areas was low to very low, up 2 percent from May 2014, but up from 43 percent in September 2012.  Sixty-two percent is the largest low supply percentage recorded since NAHB began periodically asking the question in 1997 on… Read More ›

Sales Regain Trajectory

April new home sales reversed the one month drop in March to an annualized level of 517,000 as reported by the Census Bureau and HUD. The 6.8% increase from March puts the level at slightly better than the first quarter average of 514,000 and much better (26%) than last year’s April level of 410,000. The new sales bounce back along… Read More ›

Townhouse Production Holds Steady

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, single-family attached starts totaled 14,000 for the first quarter of 2015, effectively unchanged from a year prior. Over the last four quarters, townhouse starts totaled 73,000 nationwide. Using a one-year moving average, the market share of new townhouses stands at 11% of all single-family… Read More ›