Tag Archive for ‘economics’

Residential Construction Down in June

Following two consecutive monthly increases, single-family starts fell by 9.1 percent over the month of June to a seasonally adjusted annual rate of 858,000, according to a joint release by the Census Bureau and the Department of Housing and Urban Development. However, over the quarter, starts of single-family houses was about flat, rising by 1.2 percent to 900,000. This is… Read More ›

Western States Lead Single-family Residential Permits Growth, Northeast Lags

Over the first five months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 363,327. On a year-over-year basis, this is an 8.0% increase over the May 2017 level of 336,410. The results from the SOC are similar, year-to-date single-family permits over the first five months of 2018 was, 363,700 which is 8.6% ahead of its… Read More ›

Slightly Longer Hours Worked Makes Up For Faster Inflation

The Bureau of Labor Statistics (BLS) reported that, on a seasonally adjusted basis, headline consumer prices, grew over the month of June, but at a slower pace than in May. The monthly slowdown partly reflected a decline in energy prices, electricity and utility (piped) gas specifically, although food prices accelerated over the month. Excluding energy and food prices, “core” inflation held… Read More ›

Housing Share of GDP: First Quarter 2018

With the release of the final estimate of first quarter 2018 GDP growth (2% growth rate), housing’s share of gross domestic product (GDP) declined slightly to 15.3%. The home building and remodeling component – residential fixed investment – held steady at 3.5%. Housing-related activities contribute to GDP in two basic ways. The first is through residential fixed investment (RFI). RFI is effectively the… Read More ›

Mortgage Rates Remain Elevated

The Federal Housing Finance Agency reported that mortgage rates on purchases of newly built homes rose by seven basis points over the month of May 2018 to 4.51 percent, marking the seventh consecutive monthly increase. However, information compiled by Freddie Mac suggests that mortgage rates may have taken a breather in June. Despite the two basis points decline in mortgage… Read More ›

More State Economies Grew In 2017, Led By the West and the South

Real gross domestic product (GDP) increased in 47 states and the District of Columbia and declined in three states in 2017 compared to 2016, according to the U.S. Bureau of Economic Analysis. In 2016, 40 states and the District of Columbia recorded growth in GDP while ten states experienced a decline in GDP. As a result, nationwide growth in GDP, measured… Read More ›

Young Adult House Sharing is on the Rise

New NAHB research shows that sharing housing with roommates, housemates and other non-relatives is rising in popularity among young adults. While only 4% percent of young adults ages 25 to 34 shared housing in 1990, that segment increased to 7.5% in 2016. This is in addition to increasing numbers of young adults that now choose to live with their parents… Read More ›

More States See Job Gains in May

According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 43 states and the District of Columbia, and decreased in seven states in May 2018 compared to April 2018. Over the month of April, nonfarm payroll employment increased in 26 states and the District of Columbia, was unchanged in two states, and decreased in 22 states compared to… Read More ›

Pending Home Sales Continue Slide in May

The Pending Home Sales Index decreased 0.5% in May, and remains 2.2 % below the level one year ago, having declined on an annualized basis for the fifth straight month. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI decreased to 105.9 in May from… Read More ›