Tag Archive for ‘economics’

US Real House Prices In a Global Context: Is The Dress White and Gold or Blue and Black?

According to the Global Housing Watch at the International Monetary Fund (IMF), real house prices across the world continued to grow in the in the 4th quarter of 2014, however, global house prices remain below their pre-financial crisis peak. Globally, real house prices rose by 1.6% over the 4 quarters ending in the 4th quarter of 2014, 0.6 percentage points… Read More ›

Wage Growth in the Home Building/Remodeling Industry

Over the 2012-2014 period, rising job openings and employment in the residential construction industry have led to wage increases, with some occupations within the home building and remodeling sector experiencing wage growth at a rate twice the national average. According to Bureau of Labor Statistics Occupational Employment Statistics Survey (OES) data and NAHB analysis, the 2014 median annual wage of most positions in… Read More ›

Spring for Existing Home Sales in America?

Existing home sales soared 6.1% in March, and the share of sales for first-time buyers also increased. The National Association of Realtors (NAR) reported March 2015 total existing home sales at a seasonally adjusted rate of 5.19 million units combined for single-family homes, townhomes, condominiums and co-ops, up from an upwardly revised 4.89 million units in February. March existing sales… Read More ›

Eye on the Economy: Modest Gains for Home Construction

After a disappointing set of housing data last month, recent reports suggest a return to trend for home building as the nation enters the spring home buying season. Home builders reversed a one-month decline in sentiment as the April NAHB/Wells Fargo Housing Market Index (HMI) increased 4 points to 56 in April from a one-point downwardly revised 52 in March…. Read More ›

Inflation Trajectory?

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in March for the second consecutive month, compared to a 0.1% decline over the past 12 months. According to the latest release from the Bureau of Labor Statistics (BLS), the seasonally adjusted increase in March was the result of increases in the energy and shelter indexes offsetting a decrease… Read More ›

Modest Increase in Housing Production

Housing starts and permits rose modestly in March after a very disappointing February. Total housing starts increased 2% to an annual rate of 926,000 from an upwardly revised 908,000 in February. Single-family starts improved slightly better at a 4.4% increase to 618,000 from a virtually unchanged 592,000 in February. Multifamily starts did drop again to 308,000, the lowest annualized monthly… Read More ›

Builders’ Sentiment Bounces Back

Home builders reversed their one month decline in sentiment as the April NAHB/Wells Fargo Housing Market Index increased 4 points to 56 from a one-point downwardly revised 52 in March. The bounce back up to the January-February average suggests the March observation was an outlier. All three components revived to or above the early part of 2015. Current sales index… Read More ›

Producer Prices in March – Positive for the Economy, Negative for Building Materials, But In a Good Way

The Bureau of Labor Statistics (BLS) released the Producer Price Indexes (PPI) for March, reporting that inflation in prices received by producers (prior to sales to consumers) increased 0.2% in March after a string of monthly declines. The overall increase was led by increasing prices for energy, mainly gasoline. Prices for services rose 0.1%. Rising energy prices and any indication… Read More ›