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Producer Price Index Posts Broad-Based Gains

Inflation in prices received by producers (prior to sales to consumers) increased 0.5% in June according to the latest Producer Price Index release by the Bureau of Labor Statistics.  The increase was driven by a 0.4% increase in the price of services, while the final demand index for goods rose 0.8% (the price of services is weighted roughly double the… Read More ›

Apartment Absorptions and Completions Grew in 2015

The rental apartment market continued to post solid growth in 2015. Both multifamily starts and completions increased. Data from the US Census Bureau shows that multifamily for-rent starts totaled to 372,000 units in 2015, which is 13 percent higher than in 2014. According to the Survey of Market Absorption (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments in buildings… Read More ›

Vinyl is the Most Widely Used Exterior On New Homes

According to data from the Census Bureau’s Survey of Construction (SOC), vinyl (including vinyl-covered aluminum) was the most common principal siding material on new single-family homes started in 2015 (27 percent), followed by stucco (25 percent), brick or brick veneer (22 percent each), and fiber cement siding (such as Hardiplank or Hardiboard) (19 percent). Wood or wood products accounted for… Read More ›

Who Are NAHB’s Associate Members?

Every year since 2008, the NAHB has conducted a member census in order to better understand the composition and characteristics of the people who belong to its organization.  In 2015, 68 percent of NAHB’s members were associate members—those indirectly involved in home building.  The remaining 32 percent were builder members—those directly involved in home building.  Last month we gave readers… Read More ›

Property Tax Revenue Grows Over Four Percent

NAHB analysis of the Census Bureau’s quarterly tax data shows that $524 billion in taxes were paid by property owners over the four quarters ending in Q1 2016. This represents a $22 billion—or 4.4%—increase over the previous trailing four quarters, the largest percentage increase since 2009. Property taxes accounted for 39.3% of state and local tax receipts, the largest share… Read More ›

Eye on the Economy: Brexit Causes Uncertainty; Housing Remains a Bright Spot

***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis. Recent data on home construction and new home sales show a slight dip after prior above-trend readings of the market. However, the long-run picture remains one of growth for single-family home building, as favorable demographics challenge existing supply-side headwinds concerning access to lots, labor and lending. Indeed,… Read More ›

Housing Share of GDP Expands

With the release of the final estimates of first quarter 2016 GDP growth (revised up two-tenths to a 1.1% growth rate), housing’s share of gross domestic product (GDP) ticked up slightly to 15.4%.  The home building and remodeling component – residential fixed investment – as a share of GDP expanded to 3.4%. Housing-related activities contribute to GDP in two basic… Read More ›

The Impact of Negative Rates on Housing Markets in the Euro Area

According to information compiled by the European Mortgage Federation, the total amount of mortgage debt outstanding across the 19 countries in the Euro Area, those that have adopted the common euro currency, reached €4.46 trillion in 2014, an increase of €30 billion, 0.7%, from its level in 2013, €4.43 trillion. Despite a financial crisis that was global in impact, total… Read More ›

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 ›