Tag Archive for ‘economics’

More Homes Needed to Replace Older Stock

Over the 40-year span from 1961 through 2000, housing starts averaged a little over 1.5 million a year, but they have been nowhere near that high since 2006.  As a recent NAHB study explains, one outcome of this shortfall has been a tendency for older homes to remain in service longer.  Attempts to improve the stock of housing in the U.S. (for example, through new… Read More ›

U.S. Population Growth Persists but Growth Rate Slows

The U.S. population grew by 2.0 million between July 1, 2017 and July 1,2018, representing a 0.6% increase from 325.1 million to 327.2 million, according to the U.S. Census Bureau’s national and state population estimates. The 2017 population estimates were revised downward by about 0.6 million, from 325.7 million in the Census’s previous iteration of its estimation methodology. Despite initial… Read More ›

Lower Interest Rates Stabilize Builder Confidence

Buoyed by falling mortgage rates, builder confidence in the market for newly-built single-family homes rose two points to 58 in January on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The gradual decline in mortgage rates in recent weeks helped to sustain builder sentiment. Low unemployment, solid job growth and favorable demographics should support housing demand in… Read More ›

Student and Auto Loans Dominate Non-Mortgage Debt

Preliminary consumer credit data for November 2018 released by the Federal Reserve Board’s G.19 Consumer Credit report, which exclude loans secured by real estate, indicate an increase in outstanding credit of about 6.75% (seasonally-adjusted annual rate) from the previous month. Revolving credit increased at an annual rate of 5.50%, while nonrevolving credit increased at an annual rate of 7.00%. Revolving… Read More ›

Construction Job Openings Decline in November

The count of unfilled jobs in the construction sector decreased in November, as building activity declined with higher interest rates at the end of 2018. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs fell to 278,000 in November. The October estimate was revised up to a cycle… Read More ›

Builder Confidence Drops Four Points Amid Concerns Over Housing Affordability

Builder confidence in the market for newly-built single-family homes fell four points to 56 in December on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) as concerns over housing affordability persist. Although this is the lowest HMI reading since May 2015, builder sentiment remains in positive territory. Builders report that consumer demand exists, but customers are hesitating… Read More ›

U.S. Household Balance Sheet Continues to Recover in Q3 2018

The third quarter Federal Reserve Flow of Funds report showed continued improvement in the financial position of U.S. households with real estate, as the market value of all owner-occupied residential real estate (household owned) rose to $25.6 trillion. According to NAHB tabulations of the quarterly series, the asset or market value of owner-occupied real estate held by U.S. households increased… 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 20 percent of all single family homes started in 2017—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… Read More ›