Tag Archive for ‘economics’

Pending Home Sales Stabilize

Pending home sales increased in September, but have decreased on an annual basis for nine consecutive months. The Pending Home Sales Index increased 0.5% in September, but remains down 1.0% year-over-year. 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 104.6 in September,… Read More ›

Sales Stall in September

Contracts for new single-family home sales declined in September, as eroding affordability conditions reduced sales volume. New single-family home sales declined to a significantly lower 553,000 seasonally adjusted annual rate, a 5.5% drop from a downwardly revised 585,000 annual rate recorded in August. The sales data are produced by HUD and the Census Bureau. The weak September estimate was the lowest… Read More ›

Share of New Homes with Patios Climbs over 58 Percent

Of the roughly 850,000 single-family homes started in 2017, 58.6 percent included patios, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).  Among the outdoor features captured in the SOC, this makes patios considerably more common than decks (included on 23.8 of homes started in 2017),… Read More ›

Existing Sales Fall

Existing-home sales in September declined 3.4% to the lowest level since November 2015, and are now down 4.1% from a year ago. The first-time buyer share of 32% was up from 31% last month and 29% a year ago. The National Association of Realtors reported that 47% of homes sold in September were on the market less than a month…. Read More ›

Unfilled Construction Sector Jobs Continue to Rise

The count of unfilled jobs in the construction sector increased in August, reaching yet another post-Great Recession high level. The rate of open construction sector jobs also set a 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 298,000 in August. The prior post-recession high… Read More ›

Builder Confidence Rises One Point in October, Remains at Summer Levels

Builder confidence in the market for newly-built single-family homes rose one point to 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence levels have held in the high 60s since June. Builders continue to view solid housing demand, fueled by a growing economy and a nearly 50-year low for unemployment. Lumber price… Read More ›

Share of New Homes with Decks Remains Stable

Of the roughly 850,000 single-family homes started in 2017, 23.8 percent included decks, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).  This is little changed from the 23.7 percent recorded a year earlier. From 2005 to 2008, the share of new homes with decks was… Read More ›