Data rss

October Gains for Residential Construction Spending

NAHB analysis of Census construction spending data shows that total private residential construction spending for October increased to a seasonally adjusted annual rate of $399 billion. On a month-over-month basis, private single-family spending was $226 billion, up by 1.6% over the revised September estimate. Private multifamily spending increased to $58 billion, up by 1.4%. Annually, the pace of multifamily spending… Read More ›

Home Price Appreciation in September

S&P Dow Jones Indices and the Federal Housing Finance Agency (FHFA) recently released their home prices indexes for September, respectively. The Case-Shiller (CS) national house price index accelerated to a 10.4% seasonally adjusted annual pace in September while the price index from the Federal Housing Finance Agency (FHFA) rose at a 9.5% pace. A surge in sales pushed existing house… Read More ›

Pending Sales Hold

After two consecutive monthly declines, the Pending Home Sales Index increased modestly in October from an upwardly revised September reading, and has increased year-over-year for 14 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 0.2% in October to 107.7 and is 3.9% above the… Read More ›

Multifamily Building: Third Quarter Data

An elevated market share for rental multifamily homes is holding typical new apartment size below levels seen during the housing boom. 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 of… Read More ›

Consumer Confidence Retreated in November

The Conference Board released the Consumer Confidence Index for November, reporting that the index dropped sharply to 90.4 in November, following a moderate decrease in October. Both subcomponents contributed to the decline. The present situation index declined to 108.1 from 114.6 in October; the expectations index slipped to 78.6 from 88.7 in October. Compared to October, in November, the decline… Read More ›

Effective Rate on New Home Loans Dips to 4.02 Percent

After two months of near perfect stability, interest rates on conventional mortgages for newly built homes declined noticeably in October, according to data released this week by the Federal Housing Finance Agency (FHFA).  The FHFA data show the average contract rate on the loans dropping from 3.98 to 3.92 percent, while average initial fees and charges went from 1.16 to… Read More ›

New Home Sales Rebound

Census and HUD reported new homes sales for October rebounded from their unexpected low in September to a level of 495,000 on an annual basis. This is a 10.7% increase from the revised September, a 1.6% increase from the third quarter average and a 15.7% increase in year-to-date not seasonally adjusted levels from last year. Regionally, only the West experienced… Read More ›

Growth for Residential AD&C Loans

The volume of residential construction loans outstanding expanded 3.9% during the third quarter of 2015, marking the tenth 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 by FDIC-insured institutions… Read More ›

Eye on the Economy: Housing Data Slips

***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. In the October measure of home builder confidence, sentiment dropped back to levels comparable with the second half of 2015. The November NAHB/Wells Fargo Housing Market Index dropped three points from an upwardly revised October level to 62. The index has been… Read More ›