Uncategorized rss

New Home Sales Nudge Forward

The number of new homes sold in November increased by 4.3% from a downwardly revised October level to 490,000 on a seasonally adjusted annual basis. On a year to date level, sales are up 14.5% from the eleven month total in 2014. Inventories of new homes also increased to 232,000, the highest since January 2010 even as builders continue to… Read More ›

Homeowners Contribute to Growth of Peer Lending

Peer-funded lending for personal and business loans has registered robust growth in recent years. Moreover, between 2007 and the third quarter of 2015, the composition of borrowers shifted from largely renters to a majority of homeowners. Not only do homeowners represent the majority of borrowing, but the median borrowed amount funded exceeds the median borrowed amount obtained by renters. At… Read More ›

Home Building Industry Births and Deaths

Every year the US Census Bureau releases data showing births and deaths of establishments by industry. An establishment is a physical location with payroll employees where business is conducted, so a large firm with offices in several locations is counted as several establishments. Industries for which the Census Bureau calculates births and deaths include Residential Building Construction (which includes both home… Read More ›

Solid November Housing Report

Housing starts and permits had double digit positive moves in November as reported by the Census Bureau and HUD. The November starts figures rebounded from a low October level but still managed to exceed half of the monthly levels reported for 2015. Single-family starts were up 7.6% to 768,000, their highest level since January 2008. Every region except the Midwest… Read More ›

Builders’ Sentiment Steady

Single-family home builders sentiment remained near the same level established in June 2015. The NAHB/Wells Fargo Housing Market Index fell one point to 61 in December. The index has been between 60 and 62 for six of the last seven months with only October rising briefly to 65. The three components mirrored the trend with current sales falling one point… Read More ›

Eye on the Economy: Waiting for the Fed

***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. A positive labor market report for November signals that the market can expect an increase in short-term interest rates from the Federal Reserve soon. The Bureau of Labor Statistics estimated net job growth of 211,000 in November, plus an additional 35,000 in… Read More ›

Consumer Credit Continues to Grow

Consumer credit outstanding grew by a seasonally adjusted annual rate of 5.5%, $191.8 billion, in the month of October 2015, 4.4 percentage point slower than the 9.9% rate of growth recorded in September 2015. Consumer credit outstanding now totals $3.512 trillion. The increase in total consumer credit outstanding largely reflected an expansion in the outstanding amount of non-revolving consumer credit. Non-revolving consumer… 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 ›

Housing Construction Continues Forward

Permits to build new homes increased 4.1% in October to a level of 1.15 million per year. Both single-family and multifamily levels increased by 2.4% and 6.8% respectively. On a year-to-date basis, total permits are up 11.9%; single-family are up 8.6% and multifamily are up 17.2% as the housing market continues its modest pace of recovery. Housing starts were down… Read More ›