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Home and Multifamily Residential Debt Expand

According to the Federal Reserve Board’s first quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $22.524 trillion in the first quarter of 2016, $1.140 trillion higher than its level in the first quarter of 2015, $21.113 trillion. At the same time, home mortgage debt… Read More ›

Who are NAHB’s Builder Members?

Who are NAHB’s Builder Members? Every year the National Association of Home Builders conducts a member census in order to better understand the composition and characteristics of the people who belong to its organization.  In 2015, 32 percent of NAHB’s members were builders—those directly involved in home building.  The remaining 68 percent were associate members—those involved in supportive industries and… Read More ›

Consumer Credit Outstanding Grows on Auto, Student Loans

Consumer credit outstanding grew by a seasonally adjusted annual rate of 4.5%, $161.0 billion, in the month of April 2016, 5.1 percentage points slower than the 9.6% rate of growth recorded in March. Consumer credit outstanding now totals $3.602 trillion. According to the Federal Reserve Board’s Consumer Credit Report, the increase in total consumer credit outstanding partly reflected an expansion in the… Read More ›

First Quarter GDP Revised Up, But Trend Is Still Down

The US Bureau of Economic Analysis (BEA) released the second estimate of US real gross domestic product (GDP) growth for the first quarter of 2016 (Exhibit 1). Real GDP grew at a seasonally adjusted annual rate of 0.8 percent, which is higher than the previously released advance estimate of 0.5 percent. Exhibit 1: US Real Gross Domestic Product (GDP), Seasonally… Read More ›

Apartment and Condominium Market Remains Steady in the First Quarter

The National Association of Home Builder’s Multifamily Production Index (MPI) increased one point to 53 in the first quarter of 2016 (Exhibit 1). This quarter marks the 17th consecutive quarter in which the index has been above its breakeven point of 50, which means that more builders and developers report that current conditions in the apartment and the condominium market… Read More ›

Specialty Retailers, Lumber Yards, and Wholesale Distributors Are the Most Popular Places to Buy Materials for Remodeling Projects

Where do remodelers, their subcontractors or customers generally purchase materials for projects? The National Association of Home Builders recently posed this question to remodelers across the country in its quarterly Remodeling Market Index (RMI) survey. Although subcontractors and customers purchase materials too, it turns out that remodelers often know where these products are being purchased. Remodelers were asked to identify… Read More ›

Housing Affordability Posts Second Straight Quarterly Gain

Spurred by a modest reduction in mortgage interest rates and favorable home prices, nationwide housing affordability in the first quarter of 2016 posted a slight increase, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 65.0 percent of new and existing homes sold between the beginning of January and end of March were affordable… Read More ›

Desire for New or Better Amenities is the Top Reason to Remodel

In last quarter’s Remodeling Market Index (RMI), remodelers across the country were asked to rate the reasons why customers want to remodel on a scale of 1=Never/Almost Never to 5=Very Often. The reason that received the highest average rating was ‘Desire for better/newer amenities’ (4.3), followed by ‘Need to repair/replace old components’ (4.2), and ‘Desire/need for more space’ (3.8) (Exhibit… Read More ›

Overall Builder Confidence in the 55+ Housing Market Remains Positive in the First Quarter of 2016

According to the National Association of Home Builders, confidence in the single-family 55+ housing market remained in positive territory in the first quarter of 2016. The 55+ single-family HMI dropped five points to 56, but is still above the breakeven point of 50, which indicates that more builders view conditions as good than poor (Exhibit 1). The 55+ single-family HMI… Read More ›