Tag Archive for ‘economics’

In Every State, Over 1/3 of Households are 55+

In a recent study, NAHB used newly released American Community Survey data from the U.S. Census Bureau to show that, in the U.S. as a whole, there are a little over 48 million households headed by someone age 55 or older, accounting for roughly 42 percent of all U.S. households. Although the percentage is different in different states, the variation… Read More ›

Savings Rate Trending Up

Total personal income increased to $15,648 billion, up by 0.3% in December 2015 on a month-over-month basis according to the most current data from the Bureau of Economic Analysis. Personal income growth in 2015 remained strong, with the highest increase (0.64%) in April following a weak or nearly 0% increase in March. Disposable personal income – income remaining after deducting… Read More ›

Features Most Likely to Show up in Typical Single-family Home in 2016

Successful businesses stay on top of what their competitors are doing. For home builders, this involves knowing what features other builders are putting in their new homes.  In December 2015, a nationwide survey asked builders about the likelihood that a number of features would be included in the typical single-family home they will build in 2016. Using a scale from… Read More ›

Construction Spending Rises in December

NAHB analysis of Census construction spending data shows that total private residential construction spending for December increased to a seasonally adjusted annual rate of $430 billion. On a month-over-month basis, private single-family spending was $231 billion, up by 1% over the revised November estimate. Private multifamily spending also increased to $53 billion, up by 2.66%. Over the same period, private… Read More ›

Gen-X Homeownership Increases, Household Formations Rise

According to the Census Bureau’s Housing Vacancy Survey (HVS), the nation’s homeownership rate in the last quarter of 2015 was 63.8%. However, the homeownership rate was still down by 20 basis points on a nonseasonally adjusted basis from the last quarter of 2014 to the last quarter of 2015. Compared to the peak at the end of 2004, the homeownership… Read More ›

New Home Sales: Sources of Financing

NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals an ongoing long-run trend toward conventional mortgages. According to data from the Census Bureau’s Quarterly Sales by Price and Financing and NAHB calculations, new home sales due to FHA-backed loans were effectively unchanged at a quarterly count of 18,000 and a market share of 16% for the fourth… Read More ›

Pending Sales Inch Up

The Pending Home Sales Index was virtually unchanged in December, but has increased year-over-year for 16 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 0.1% in December to 106.8 from a downwardly revised 106.7 November, and was 4.2% above the same month a year… Read More ›

Existing Sales Surge

Existing home sales, as reported by the National Association of Realtors (NAR), surged 14.7% in December, including an increase in the first-time buyer share to 32%, the highest share since August. December sales snapped back from a November decline partially attributable to delays in closings from the rollout of the Know Before You Owe mortgage disclosure rule by the Consumer… Read More ›

Home Construction Up for 2015

With the December report on housing starts and permits, preliminary totals for 2015 are now available. Total housing starts at 1.11 million were up 10.8% in 2015 compared to 2014. Single-family starts were up 10.4% to 715,300 and multifamily starts were up 11.4% to 396,000. All four census regions also experienced increases in single-family starts for 2015. The monthly change… Read More ›

Builder Confidence Holds Firm in January

Builder confidence in the market for newly-built single-family homes held steady at 60 in January from a downwardly revised December reading of 60, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The January HMI reading is in line with NAHB’s forecast of modest growth for housing. NAHB expects growth in 2016 for the single-family, multifamily, and remodeling sectors… Read More ›