Tag Archive for ‘economics’

Housing Production Stumbles

Housing starts fell 17% to their lowest level since January 2014. The decline was across the board in building types and regions. Single-family starts were down 14.9% and multifamily starts were down 20.8%. Single-family starts were down the most in the weather sensitive Northeast (-60.7%) and Midwest (-32.4%) but were also down in the less unseasonable weather patterns of the… Read More ›

Builders Sentiment Weakens Slightly

The March NAHB/Wells Fargo Housing Market Index dropped two points to 53 from February, the third consecutive monthly decline in the index. While softening during the winter months, the index has remained above 50 since July 2014. Furthermore, of the three components to the index, the expectations for future sales remained steady at 59 (from the downwardly revised February of… Read More ›

Producer Prices in February – Falling Prices, Except for Gypsum

The Bureau of Labor Statistics (BLS) released the Producer Price Indexes (PPI) for February. Inflation in prices received by producers (prior to sales to consumers) declined 0.5% in February. The decline was dominated by a decline in prices for services and within services prices for trade, transportation and warehousing. Prices for goods also declined led by falling food prices. Energy… Read More ›

U.S. Household Balance Sheet Improves Again

The balance sheet of U.S. households with real estate continues to improve – despite tight lending conditions – as increases in home prices continue. The real estate equity position of U.S. households (the difference between assets and liabilities) increased nearly 2.4% for the quarter according to NAHB tabulations of the fourth quarter Federal Reserve Flow of Funds. The value household-owned real… Read More ›

Average Monthly Electrical Bill by State – Updated Data

According to latest release from the U.S. Department of Energy – Energy Information Administration (EIA), the average residential monthly electric bill was $110.21 in 2013. The most expensive utility bill for homeowners is the electric bill, accounting for roughly 9% of expenditure on housing according to NAHB tabulations of Bureau of Labor Statistics (BLS) data on consumer expenditures. The average… Read More ›

Eye on the Economy: A Focus on Employment

While housing and the economy are off to a slow start at the beginning of 2015, positive developments in the labor market are a source of growing momentum, particularly for housing demand. In February, data from the Bureau of Labor Statistics (BLS) indicate that payroll employment expanded by 295,000 jobs and the unemployment rate dropped to 5.5%. It is important… Read More ›

Consumer Credit Expands on Auto, Student Loans

The Federal Reserve Board recently reported that consumer credit outstanding rose by a seasonally adjusted annual rate of 4.2%, $138.7 billion, in January 2015. Consumer credit outstanding now totals $3.3 trillion. The expansion of total consumer credit outstanding reflected an increase in the outstanding amount of non-revolving consumer credit. Non-revolving consumer credit includes auto loans and student loans. According to… Read More ›

Construction Labor Market Turnover at the Start of 2015

The number of open, unfilled construction sector positions decreased slightly in January. Overall, the construction labor market was characterized by higher rates of turnover at the start of the year, with strengthening hiring and increased levels of separations. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs for January (on a seasonally adjusted basis)… Read More ›

NAHB Releases New Home Building Employment Estimates by State and Congressional District

A new NAHB study presents the most comprehensive estimates of home building employment, including self-employed workers, by state and congressional district. NAHB Economics estimates that out of 8.9 million people working in construction in 2013, close to 3.5 million people worked in residential construction, accounting for 2.4 percent of the US employed civilian labor force. These numbers reflect modest job… Read More ›