Tag Archive for ‘economics’

February Housing Starts Pause

Single-family housing starts declined almost 10 percent in February from an elevated January due to abnormally warm weather country wide. February also has above average temperatures but not as off-normal as January. In addition, buyers are meeting the harsh realities of tight credit standards and poor appraisals that don’t account for the condition of the distressed sales used as comparables…. Read More ›

Starts, Permits Indicate Relative Health of the Multifamily Sector

In February, the (seasonally adjusted) annual rate of starts  in buildings with five or more apartments was 233,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is a 29 percent increase from the January starts rate  (which was revised upward slightly) and more than double the starts rate for February 2011.   Although a rate of… Read More ›

Surging Gasoline Prices Boost Overall CPI in March

The Consumer Price Index for All Urban Consumers (CPI-U) jumped 0.4% on a month-to-month basis during February 2012. Although the core and food CPI indices registered very modest gains, energy prices increased 3.2% and accounted for the vast majority of last month’s gain in the overall CPI. In fact, had natural gas prices not posted their fifth consecutive month-to-month decline,… Read More ›

Absorption Rates Rise for Multifamily Units During the Last Quarter of 2011

Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau and the Department of Housing and Urban Development, suggest continued improvement for the multifamily sector. The SOMA tracks completions and market absorption (units rented or sold after construction of the property is complete) for multifamily rental and for-sale housing in 5+ unit properties. Data released in… Read More ›

Improving Markets Index at 99

The March NAHB/First American Improving Markets Index stands at 99 markets or over one-quarter of all metropolitan areas.  The index measures improvement in three aspects: employment, single-family building permits and home prices.  To make the list, a metropolitan area must see improvement in all three indicators for six or more months. At 99, the March index added 31 metropolitan areas… Read More ›

MVI Shows Ongoing Stability in the Market for Existing Rental Apartments

In the fourth quarter of 2011, NAHB’s Multifamily Vacancy  Index (MVI) declined for a second consecutive quarter—from 35.1 to 34.7   The MVI is based on a quarterly survey of NAHB’s multifamily members, tracking their sentiment about the market for existing apartments on a scale from 0 to 100.  A declining MVI is a positive change, as it indicates that sentiment… Read More ›

Homeownership Rates Across All Metro Areas

For timely information on homeownership rates, the standard reference is the Census Bureau’s Housing Vacancy Survey (HVS), which releases information for the U.S. on a quarterly basis.  On an annual basis, the HVS also provides homeownership rates for the 75 largest metropolitan areas.  This information can be quite useful, but smaller areas may have particularly high homeownership rates or otherwise… Read More ›

The Employment Situation for February – Solid Job Gains, Unemployment Rate Unchanged

The Bureau of Labor Statistics (BLS) released the Employment Situation report for February today. Payroll employment expanded by 227 thousand from January to February and upward revisions added a total of 61 thousand to the December and January gains. The unemployment rate was unchanged at 8.3 percent, based on strong gains in both employment and the labor force, according to… Read More ›