Tag Archive for ‘economics’

Unfilled Construction Sector Jobs Reach Cycle High

The count of unfilled jobs in the construction sector increased in June, reaching a post-Great Recession high level. The rate of open construction sector jobs also matched a prior cyclical high. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs increased to 263,000 in June. The prior post-recession high count… Read More ›

Share of 2017 New Single-Family Houses in a Homeowners’ Association

According to data from the Census Bureau’s Survey of Construction (SOC), the share of completed new homes administered by homeowners’ associations varies by region, ranging from 68% in the West to 29% in the Northeast. The Census Bureau defines community or homeowners’ associations as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions;… Read More ›

Most Buyers Don’t Expect Housing Availability to Get Better Soon

The Housing Trends Report (HTR) is a research product created by NAHB’s Economics team to track prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets.  Results are based on national polls conducted by Morning Consult, but are not seasonally adjusted due to the short time horizon of the series, and therefore caution is advised… Read More ›

Pending Home Sales Follow Uptick in June Inventory

Following the June increase in existing inventory, the Pending Home Sales Index increased 0.9% in May, but remains 2.5 % below the level one year ago. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI increased to 106.9 in June from 105.9 in May. The… Read More ›

Economic Growth Accelerates

In the second quarter of 2018, the nation’s economy grew at a faster pace than in the first quarter. According to the “advance” estimate released by the Bureau of Economic Analysis, real gross domestic product (GDP) increased at an annual rate of 4.1 percent in the second quarter of 2018. It was the strongest quarter of growth since the third… Read More ›

New Home Sales Fall Back in June

Contracts for new, single-family home sales declined in June, falling 5.3% to a 631,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The decline came off a downwardly revised May estimate, which was dropped from an initial read of 689,000 to a new estimate of 666,000. The June estimate was the lowest annual pace since… Read More ›

Western and Southern States Lead Job Gains in June

According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 39 states and decreased in 11 states and the District of Columbia in June 2018 compared to May 2018. Over the month of May, nonfarm payroll employment increased in 43 states and the District of Columbia, and decreased in seven states compared to April 2018. Nationwide, total nonfarm payroll employment… Read More ›

Residential Construction Down in June

Following two consecutive monthly increases, single-family starts fell by 9.1 percent over the month of June to a seasonally adjusted annual rate of 858,000, according to a joint release by the Census Bureau and the Department of Housing and Urban Development. However, over the quarter, starts of single-family houses was about flat, rising by 1.2 percent to 900,000. This is… Read More ›

Western States Lead Single-family Residential Permits Growth, Northeast Lags

Over the first five months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 363,327. On a year-over-year basis, this is an 8.0% increase over the May 2017 level of 336,410. The results from the SOC are similar, year-to-date single-family permits over the first five months of 2018 was, 363,700 which is 8.6% ahead of its… Read More ›