Data rss

The Employment Situation in November – Step Two

Steady payroll gains, a drop in the unemployment rate, decent wage gains. The stage is set for the Federal Reserve to take a second step on the path to monetary policy normalization at the upcoming December meeting. The Bureau of Labor Statistics (BLS) reported payroll employment rose by 178 thousand in November and revisions to estimates for the prior two… Read More ›

Serious Delinquency Rates Improve Across Most Household Debts

A recent release by the Federal Reserve Bank of New York indicates that, in aggregate, 90 or more day delinquency rates are falling on most household debt products. However, serious delinquency on student loans remains elevated while a greater portion of auto debt held by households with low credit scores is entering serious delinquency. The results indicate that household balance… Read More ›

Multifamily Construction Spending Continues Strong Growth

NAHB analysis of Census Construction Spending data shows that total private residential construction spending grew 1.6% in October to a seasonally adjusted annual rate of $472.9 billion. Multifamily construction spending continued its record breaking pace and reached $63.7 billion, up by 2.8% over the revised September estimates. It was 11.4% higher since October 2015. Single-family construction spending also increased by… Read More ›

Consumer Confidence – Optimistic November

With the ongoing job and economic growth, in November consumer confidence improved. Consumers were optimistic about both the current situation and the near term outlook. The Conference Board reported that the Consumer Confidence Index jumped to 107.1 in November, from an upwardly revised 100.8 in October. Both the present situation index and the expectations index rebounded. The present situation index… Read More ›

Pending Sales Maintain Pace

The Pending Home Sales Index increased a slight 0.1% in October, but was 1.8% higher than last October. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 110.0 in October from a downwardly revised 109.9 in September. The PHSI increased 1.6% in the Midwest, 0.7% in… Read More ›

Steady Growth in October Personal Income

According to the most recent data from the Bureau of Economic Analysis, personal Income rose by 0.6% in October to a seasonally adjusted annual rate of $16,260 billion. This is the largest growth within the past six months. Personal consumption expenditures edged up by 0.3%, following an upwardly revised 0.7% gain in September.  On a year-over-year comparison, personal consumption jumped… Read More ›

Home Prices Jumped in September

The Case-Shiller (CS) National Home Price Index, reported by S&P Dow Jones Indices, jumped in September. The CS Home Price Index rose at a seasonally adjusted annual growth rate of 10.4%, the fastest in the past 36 months. After the deceleration in the beginning of 2016, house prices have accelerated since May due to tight inventory and high demand, reaching… Read More ›

AD&C Lending Expands

The volume of residential construction loans jumped by 4.8% during the third quarter of 2016, marking 14 consecutive quarters of growth and setting the highest quarterly growth rate since the summer of 2014. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting factor for home building growth, but easing credit conditions and a growing loan base have helped expand residential construction activity in a thin inventory environment. According… Read More ›

Single-Family Built-for-Rent Construction

The number of single-family homes built-for-rent posted 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 one-year moving… Read More ›