Tag Archive for ‘economics’

Pending Home Sales Decline in April

The Pending Home Sales Index decreased 1.3% in April, and remains 2.1% below the level one year ago, having declined on an annualized basis for the fourth straight month. 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 decreased to 106.4 in April from an… Read More ›

First Quarter Economic Growth Confirmed

The Bureau of Economic Analysis (BEA) reported that economic growth, measured by the annualized growth rate of real GDP, was revised to 2.2 percent from the advance estimate of 2.3 percent. The modest downward revision confirms the extent of economic growth over the first quarter of the year. The second estimate of first quarter GDP also included the first estimate… Read More ›

NAHB Releases Remodeling by Zip Code Estimates for 2018

With this post NAHB announces the release of its latest estimates of spending on improvements to owner-occupied homes at the zip code level.  The new estimates are for calendar year 2018 and include the number of owner-occupied homes, the number with improvement spending during the year, the average spending per improved home, total spending on improvements within the zip code, and the drivers of remodeling activity used to… Read More ›

Existing Sales Retreat 2.5% in April

Existing-home sales decreased 2.5% in April to a level 1.4% below a year ago, and sales have now decreased year-over-year for two consecutive months. The first-time buyer share of 33% was an increase from last month, but remains down from 34% a year ago. The National Association of Realtors reported that 57% of homes sold last month were on the… Read More ›

Steady AD&C Loan Growth

The volume of residential construction loans increased by 1.8% during the first quarter of 2018, marking 20 consecutive quarters of growth. Furthermore, recent stabilization of year-over-year growth rates is an indicator of continued, modest growth for single-family construction. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting factor for home building growth, but easing credit conditions and a growing loan base have helped expand residential… Read More ›

New Home Sales Decline

Sales of new homes fell by 1.5 percent over the month of April to a seasonally adjusted annual rate of 662,000. According to the report released by the Census Bureau and the Department of Housing and Urban Development, the small monthly decline partly reflected a downward revision to the estimate of new home sales in March from 694,000 to 672,000…. Read More ›

Multifamily Unit Size Falls

The elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. However, size fell at the start of 2018 according to NAHB analysis of Census data. According to first quarter 2018 data, the… Read More ›

Standards on AD&C Loans Ease, Interest Rates Expected to Rise

Builders and developers responding to NAHB’s AD&C Financing Survey continue to report easing credit conditions for acquisition, development, and single-family construction loans, over the first quarter of 2018, but the pace of easing slowed. At the same time, the majority of survey respondents indicated that the typical loan they obtained in the first quarter of 2018 was tied to a… Read More ›