Data rss

July Personal Consumption Expenditure Edges Up

Personal income increased by $71.7 billion in July, growing at a seasonally adjusted annual rate of 0.5%, according to the most recent data release from the Bureau of Economic Analysis.  Personal consumption expenditure rose by 0.3%, after a 0.6% increase in June. Disposable personal income – income remaining after deducting personal income taxes – continued its steady growth, and so… Read More ›

How New Home Buyers Financed Their Homes in 2015

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 2015, accounting for more than a third of the market. Looking at new single-family homes started in 2015, the South Atlantic division was most dependent on non-conventional financing, with its share exceeding 40% of the market…. Read More ›

A Second Look at GDP Growth in the Second Quarter

The Bureau of Economic Analysis (BEA) released the second estimate of real GDP growth for the second quarter of 2016 based on more complete source data than was available for the advance estimate. Real GDP grew at a 1.1% seasonally adjusted annual rate, little changed from the 1.2% earlier estimate. The revisions were mixed, consumer spending was slightly stronger, investment… Read More ›

States with the Fastest Growing Construction Employment

NAHB’s analysis of July regional employment data from the BLS shows that states with the highest annual growth rates of total construction employment are Iowa (16.52%), Hawaii (12.89%), Idaho (12.63%), and Colorado (10.88%), compared to the national average growth rate of 4.55%.   Thirty-nine states and District of Columbia experienced positive year-over-year changes in construction employment in July. On a… Read More ›

Serious Delinquency Rate on Single-family Mortgages Continues to Drop

In its quarterly National Delinquency Survey, the Mortgage Bankers Association reported that 3.11% of 1-4 family mortgages were seriously delinquent in the second quarter of 2016. Measured on a not seasonally adjusted basis, the rate of serious delinquency, which includes both mortgages that are 90 or more days past due and mortgages in foreclosure, was 0.84 percentage point less than the 3.95%… Read More ›

Existing Sales Stumble

Existing home sales, as reported by the National Association of Realtors (NAR), decreased 3.2% in July and were down 1.6% from the same month a year ago, the first year-over-year decline since November 2015. Total existing home sales in July decreased to a seasonally adjusted rate of 5.39 million units combined for single-family homes, townhomes, condominiums and co-ops, down from… Read More ›

Mortgage Debt Continues to Grow

According to the Household Debt and Credit Report released by the Federal Reserve Bank of New York (FRB NY), the outstanding amount of housing-related debt, both home mortgages and home equity lines of credit (HELOCs), totaled $8.8 trillion in the second quarter of 2016, 2.6% ($225 billion) greater than the level from one year ago. However, the outstanding amount of home equity… Read More ›

New Home Sales Heat Up in July

July new home sales recorded the strongest monthly pace since October 2007, growing to a 654,000 seasonally adjusted annual rate. According to estimates from the Census Bureau and Department of Housing and Urban Development, the elevated July rate marked a 12.4% gain over downwardly revised, but still strong, estimates for June. On a year-to-date basis, new home sales have improved… Read More ›

New Multifamily Rental Share Remains Strong

An elevated market share for new rental multifamily homes is holding typical apartment size below levels seen during the pre-recession period. However, as multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. The recent pattern of change in the size of new multifamily units stands in contrast to the post-recession increase in the size… Read More ›

Jump in Single-Family Built-for-Rent Construction

The number of single-family homes built-for-rent has posted solid gains over the last year. However, the built-for-rent market is a small portion of the total single-family development, so care must be taken when identifying trends. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent, as measured on a… Read More ›