Tag Archive for ‘economics’

Consumer Confidence Retreated in November

The Conference Board released the Consumer Confidence Index for November, reporting that the index dropped sharply to 90.4 in November, following a moderate decrease in October. Both subcomponents contributed to the decline. The present situation index declined to 108.1 from 114.6 in October; the expectations index slipped to 78.6 from 88.7 in October. Compared to October, in November, the decline… Read More ›

Effective Rate on New Home Loans Dips to 4.02 Percent

After two months of near perfect stability, interest rates on conventional mortgages for newly built homes declined noticeably in October, according to data released this week by the Federal Housing Finance Agency (FHFA).  The FHFA data show the average contract rate on the loans dropping from 3.98 to 3.92 percent, while average initial fees and charges went from 1.16 to… Read More ›

Growth for Residential AD&C Loans

The volume of residential construction loans outstanding expanded 3.9% during the third quarter of 2015, marking the tenth consecutive quarter of growth. The tight availability of acquisition, development and construction (AD&C) loans has been a factor holding back a stronger rebound in home construction. According to data from the FDIC and NAHB analysis, the outstanding stock of 1-4 unit residential construction loans made by FDIC-insured institutions… Read More ›

Eye on the Economy: Housing Data Slips

***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. In the October measure of home builder confidence, sentiment dropped back to levels comparable with the second half of 2015. The November NAHB/Wells Fargo Housing Market Index dropped three points from an upwardly revised October level to 62. The index has been… Read More ›

Existing Sales Realign

Existing home sales, as reported by the National Association of Realtors, decreased 3.4% in October, and the annual share of first-time buyers in 2015 fell to its second-lowest level since the survey was launched in 1981. Total existing home sales in October decreased to a seasonally adjusted rate of 5.36 million units combined for single-family homes, townhomes, condominiums and co-ops,… Read More ›

Single-Family Built-for-Rent Construction Grows

Single-family homes built-for-rent starts increased to approximately 9,000 for the third quarter of 2015, compared to about 7,000 for the same period of 2014. However, the single-family built-for-rent market is a small portion of the total market, so care must be taken when identifying trends. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market… Read More ›

Custom Home Building Flat

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of custom home building starts (homes built on an owner’s land, with either the owner or a builder acting as the general contractor) posted a slight increase on a year-over year basis as of the third quarter of 2015. Over the last four quarters, there… Read More ›

Apartment and Condominium Market Remains Steady in the Third Quarter

In the third quarter of 2015, the NAHB’s Multifamily Production Index (MPI) increased one point to a level of 56. This marks the 15th consecutive quarter with a reading of 50 or above, which indicates that more respondents report conditions are improving than report conditions are becoming worse. The MPI is fairly consistent with the strong performance of multifamily starts, which have recovered from… Read More ›

Townhouse Construction: Strong Growth

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, single-family attached starts totaled 26,000 for the third quarter of 2015, up 30% from a year prior. The third quarter level of townhouse construction is the fastest since the fourth quarter of 2007. Over the last four quarters, townhouse starts totaled 84,000 nationwide, a 20% gain over the… Read More ›

New Single-Family Home Size: Flat Trends

The typical size of newly built single-family homes was effectively unchanged from the second to third quarter of 2015, posting a small quarterly decline. The current data is consistent with the general trend of flat growth for the size of typical newly-built homes, a pattern that took hold during 2014. As first-time buyers return to the market, typical home size is expected to trend somewhat lower. According to third quarter 2015 data… Read More ›