Tag Archive for ‘economics’

How New Homebuyers Finance Their Homes Across the Nation

NAHB analysis of the Census Bureau Survey of Construction (SOC) data shows that non-conventional forms of financing new single-family home purchases remained elevated in 2014, but their use and mix varied widely across the country. In the West North Central division, only 21 percent of new homes started in 2014 were purchased using non-conventional financing methods. The share was twice… Read More ›

Residential Construction Spending Rose in August

NAHB analysis of Census Construction Spending data shows that total private residential construction spending for August continued to increase, rising to a seasonally adjusted annual rate of $390 billion. On a month-over-month basis, private single-family spending was $219 billion, up by 0.7% over the revised July estimate. Private multifamily spending increased to $53 billion, up by 4.8%, reversing the decline… Read More ›

Consumer Confidence Rebounded in September

The Conference Board released its Consumer Confidence Index for September. The index is a composite of separate indexes tracking consumers’ assessments of current business, income and employment conditions, as well as their expectations for the future. The Consumer Confidence Index increased to a level of 103.0 in September from 101.3 in August. The present situation index rose to 121.1 from… Read More ›

Existing Home Sales vs. Home Prices

The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller (CS) recently released their respective home price indexes for July. The FHFA index shows house price appreciation accelerated to a seasonally adjusted annual rate of 7.3% in July. The CS index shows house prices rose at an annual growth rate of 4.6% in July. Both indexes have been rising… Read More ›

Sale and Contract Prices per Square Foot in 2014

For single-family homes started in 2014, median prices, excluding improved lot values, range from $159 per square foot for contractor-built homes in the Pacific and New England divisions to $80 per square foot for speculatively-built homes in the East South Central division. The most expensive new single-family homes in 2014 were contractor-built homes in the Pacific and New England divisions with the… Read More ›

Pending Sales Retreat

The Pending Home Sales Index decreased in August, but has increased year-over-year for 12 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 1.4% in August, but is up 6.1% from the same month a year ago. While increasing in the West, the PHSI declined… Read More ›

Housing Share of GDP: Home Building Increasing

With the release of the final estimates of second quarter 2015 GDP growth (revised up to a 3.9% growth rate), housing’s share of gross domestic product (GDP) declined slightly to 15.31%. However, the home building and remodeling component – residential fixed investment – expanded for the third consecutive quarter to 3.21% of total GDP. Housing-related activities contribute to GDP in two basic ways. The… Read More ›

New Home Sales Continue Rise

Builders continue the modest rise in new home sales as reported by HUD and the Census Bureau. August new home sales, annualized and adjusted for seasonality, increased to 552,000. The August level was up 5.7% from an upwardly revised July and represents the highest level since February 2008. The steady, albeit modest, progression of new home sales reflects the steady… Read More ›

Property Tax Collections Increase

According to NAHB analysis of Census Bureau’s quarterly data, property taxes made up 38.9% of state and local tax receipts among major sources over the last four quarters. Property tax collections, including commercial real property taxes and personal property taxes, totaled more than $503 billion over the last year. This represents an increase of almost $13 billion, as measured on a four-quarter trailing basis, or… Read More ›