Tag Archive for ‘economics’

AD&C Lending for Home Building Remains Restrictive

A number of economic indicators are pointing to improving days ahead for housing and home building. These include The NAHB/Wells Fargo Housing Market Index reached its highest level since April 2007 The NAHB/Wells Fargo Housing Opportunity Index, a measure of home buying affordability, is at an all time high The NAHB/First American Improving Markets Index now counts 98 metro areas as improving… Read More ›

AD&C Lending for Home Building Remains Restrictive

A number of economic indicators are pointing to improving days ahead for housing and home building. These include The NAHB/Wells Fargo Housing Market Index reached its highest level since April 2007 The NAHB/Wells Fargo Housing Opportunity Index, a measure of home buying affordability, is at an all time high The NAHB/First American Improving Markets Index now counts 98 metro areas as improving… Read More ›

Pending Home Sales Up

The Pending Home Sales Index, a forward-looking indicator based on contracts signed, increased 2.0 percent to 97.0 in January, up from the downwardly revised 95.1 in December. The January 2012 level is up 8.0 percent from the same period one year ago.  The National Association of Realtors (NAR) reported that all four regions are up from January 2011. If contracts… Read More ›

FHFA Shows Home Price Improvement Broadly Distributed Geographically

The Federal Housing Finance Agency (FHFA) released monthly home price indexes for the US and the 9 Census divisions for December, and quarterly home price indexes for the 50 states, the District of Columbia, and metropolitan statistical areas for the fourth quarter of 2011. The extensive geographic coverage provided by FHFA is a huge improvement over other house price indicators,… Read More ›

Existing Sales Up, Inventory Down

Existing home sales increased 4.3 percent in January to a seasonally adjusted level of 4.57 million units. That level is 0.7 percent above the January 2011 seasonally adjusted annual rate, and is the third increase over the past four months. The National Association of Realtors (NAR) reported that the seasonally adjusted sales of existing homes (comprised of completed transactions of… Read More ›

A Look Inside Builders’ Books

If you have ever wondered how much single-family builders are earning these days or how much profit is considered “average” in the industry, then a recently published NAHB study based on a national survey of single-family builders titled “The Cost of Doing Business Study: 2012 Edition” will help provide answers. On average, single-family builders in fiscal year 2010 made $7.1… Read More ›

CPI Rises as Core Index and Energy Prices Climb Higher; Real Rents Inch Lower to kick off 2012

The Bureau of Labor Statistics (BLS) reported the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a month-to-month basis during January 2012. Price levels rose across a fairly broad base of categories, as the core, energy and food indexes all registered increases compared to December. If not for the fact that natural gas prices continue to slump… Read More ›

Producer Prices in January – Watch Gypsum

The Bureau of Labor Statistics (BLS) released the Producer Price Indexes (PPI) for January on Thursday. The index for finished goods rose 0.1 percent in January from December, balancing a 0.4 percent increase in the core index and declines in the food (-0.3 percent) and energy (-0.5 percent) indexes, keeping the overall index in line with its relatively flat trajectory… Read More ›

HOI Indicates Affordability at All-Time High

The National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) rose to 75.9 during the fourth quarter of 2011,  the highest number recorded in the 20-year history of the index.  The HOI is the percentage of homes sold during the quarter affordable to a median-income family, based on standard underwriting criteria.  An HOI of 75.9 means that 75.9 percent… Read More ›

Mortgage Bankers: Delinquencies and Foreclosures Continue to Fall, but a Few Problems Persist

The Mortgage Bankers Association’s National Delinquency Survey showed the delinquency rate on first-lien residential mortgages dropped 41 basis points to 7.58% during the fourth quarter of 2011 (down from 7.99%). While the foreclosure inventory remained elevated from a historical perspective to close out the calendar year, it still registered a modest decline between the third and fourth quarters of 2011,… Read More ›