Tag Archive for ‘economics’

Texas Leads Job Gains in December

Year-over-year (YoY), total nonfarm employment increased by 2.1 million jobs on a seasonally adjusted basis (SA), or 1.4% from December 2018 to December 2019. During this time, total nonfarm employment in the Western region increased by 2.0%. The South, Northeast, and Midwest recorded gains at 1.8%, 0.9% and 0.5% respectively, during this time. According to the Bureau of Labor Statistics,… Read More ›

US Economic Growth Slows to 2.3% in 2019

According to the “advance” estimate  released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) expanded at an annual rate of 2.1% in the fourth quarter of 2019, the same increase as in the third quarter. This marks the 23rd consecutive quarter of growth. For the full year, real GDP increased 2.3% in 2019, down from a… Read More ›

New Home Sales End 2019 with 10% Gain

New home sales were effectively flat in December, after downward revisions for prior months. However, the sales pace for newly-built single-family homes ended 2019 with a gain of 10%, increasing to a total of 681,000. This marks 2019 as the best year for new home sales since the Great Recession. Contracts for new, single-family home sales declined slightly in December… Read More ›

Age-Restricted Homes Slightly Smaller, Pricier than Others Started in 2018

Of the roughly 875,000 single-family and 375,0000 multifamily homes started in 2018, 29,000 and 31,000, respectively, were age-restricted according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).  A housing development can legally restrict the ages of its residents, provided it conforms to one of the set… Read More ›

Custom Home Building Annual Share

According to data from the Census Bureau’s Survey of Construction (SOC), the custom home share declined to 19.5 percent of all single-family homes started in 2018—lowest since mid-2000. Contractor-built or owner-built houses – that together make up the custom home market – are built one at a time for owner occupancy on owner’s land with either the owner or a… Read More ›

Builder Confidence Begins Year Strong as Single-Family Growth Continues

Builder confidence in the market for newly-built single-family homes edged one point lower to 75 in January, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The last two monthly readings mark the highest sentiment levels since July of 1999. Low interest rates and a healthy labor market combined with a need for additional inventory… Read More ›