Tag Archive for ‘economics’

FOMC Minutes From the July Meeting – Getting Better Slowly and Planning Next Steps

The Federal Reserve released the minutes from the Federal Open Market Committee (FOMC) meeting held July 29-30. Following its standard procedure the Fed released a statement immediately following the meeting announcing the major policy decisions, and released the minutes from the meeting, providing a more in-depth view of the deliberations, three weeks later. While there was a general recognition that… Read More ›

Multifamily Built for Rent Share Rises Again

The share of multifamily units built for rent rose again during the second quarter. This increasing market share for rental multifamily homes is holding typical new unit size below levels seen during the housing boom. However, as multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. According to second quarter 2014 data from… Read More ›

Townhouse Market Flat

Total townhouse construction was effectively unchanged on a year-over-year basis during the second quarter of 2014. According to NAHB analysis of Census data of Starts and Completions by Purpose and Design, single-family attached starts totaled 19,000 for the quarter, the same level a year from a year prior. Over the last four quarters, townhouse construction starts totaled 67,000, down from the 73,000… Read More ›

Existing Sales Continue to Increase

Existing home sales increased for the fourth consecutive month and the share of distressed sales decreased, making the report positive news for future new home sales because each prospective repeat buyer must sell their existing home before buying a newly built home. Existing home sales increased 2.4% in July, but are still 4.3% below the same period a year ago…. Read More ›

Custom Home Building Grows During the Second Quarter

Custom home building recorded growth during the second quarter of 2014. NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of starts of homes built on an owner’s land, with either the owner or a builder acting as the general contractor, rose from 39,000 for the second quarter of 2013 to 48,000… Read More ›

Eye on the Economy: Home Construction Rebounds in July

After a disappointing June report, housing starts rebounded to an annual rate of 1.093 million for a 15.7% increase over the upwardly revised June level. The substantial June dip, caused by a fall in single-family construction in the South, was eliminated as single-family construction rose 8.3% with increases in three of the four regions. Midwest single-family starts were down 6.8%… Read More ›

Single-Family Built for Rent Market Holding Steady

Single-family starts built-for-rent increased somewhat to 6,000 starts for the second quarter of 2014. While the market share of built-for-rent single-family units remains somewhat elevated, the share and count of starts appear to be remaining off post-Great Recession highs. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent, as… Read More ›

Food and Shelter Prices Rise in July

The Bureau of Labor Statistics (BLS) reported that consumer prices increased slightly in July by 0.1% on a seasonally adjusted month-over-month basis. This represents the smallest month-over-month increase since February. Over the past twelve months, prices on expenditures made by urban consumers increased 2.0% before seasonal adjustments. The energy price index decreased 0.3% month-over-month in July following a large 1.6%… Read More ›

Growth of New Single-Family Home Size Cools

The average size of newly built single-family homes was effectively unchanged during the second quarter of 2014. However, current levels reflect recent increases in typical new home size due to an atypical mix of new home buyers. According to second quarter 2014 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, average single-family square floor area decreased from 2,727 to 2,653 square feet,… Read More ›