Tag Archive for ‘economics’

Strong Housing Starts Estimate Matches Rise in Builder Confidence

Total housing starts increased in November, with strong readings from the single-family sector. Total starts increased 3.3% to a 1.3 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The headline number was supported by strong numbers from single-family home building. Single-family starts increased for the month, rising 5.3% to a 930,000 seasonally adjusted… Read More ›

Builders Confident As Market Primed to Expand in 2018

Builder confidence in the market for newly-built single-family homes increased five points to a level of 74 in December on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after a downwardly revised November reading. This was the highest report since July 1999, over 18 years ago. Builder confidence has improved in 2017 on hopes of an improved regulatory environment… Read More ›

Headline Inflation Accelerates, Core Inflation Slows

The Consumer Price Index – Urban Consumers (CPI) rose by 0.4 percent on a seasonally adjusted basis over the month of November and 2.2 percent over the past 12 months on a not seasonally adjusted basis. According to the release, energy prices accounted for three-fourths of the increase in the monthly change in headline inflation. Core CPI, which excludes more… Read More ›

Fed Raises Key Rate, Balance Sheet Normalization to Accelerate in January

In its statement following its December 12-13, 2017 meeting, the Federal Open Markets Committee (FOMC) decided to raise the target range for the federal funds rate to a range of 1.25 to 1.5 percent, a decision that was widely expected. Despite the increase, the FOMC believes that the “stance of monetary policy remains accommodative”. As illustrated by the Federal Reserve… Read More ›

Construction Job Openings Rise in October

The count of unfilled jobs in the construction sector increased in October. This increase occurred during a period of expansion for repair and remodeling work in the wake of Hurricanes Harvey and Irma. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) increased to 227,000 in October. This count is close… Read More ›

Garages in New Homes: 2016 Data

A majority of new homes that completed construction in 2016 included two-car garages, according to NAHB analysis of Census Bureau Survey of Construction data.   For new single-family completions in 2016, 63% of homes offered a two-car garage. Another 22% of homes possessed a garage large enough to hold three or more cars. Just 6% of newly-built homes had a one-car garage, and… Read More ›

Impact of the Canadian Lumber Duties on the U.S. Economy in 2018

On November 2, 2017, the Commerce Department announced its final decision to impose duties averaging 20.83 percent on Canadian softwood lumber shipments into the U.S. The impacts of these duties on the U.S. economy next year will include increased production by U.S. sawmills, reduced imports from Canada, and higher prices paid for lumber by consumers in the U.S., which in… Read More ›

Share of New Homes with Decks Edges Up

Of the roughly 780,000 single-family homes started in 2016, 23.7 percent came with 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 up slightly from 23.3 percent of single-family homes started in 2015. From a slightly longer historic perspective, the share of new homes… Read More ›

Growth Rate for Residential Construction Loans Picks Up

The volume of residential construction loans increased by 2.4% during the third quarter of 2017, marking 18 consecutive quarters of growth. While the year-over-year growth rate has slowed, the uptick in the quarterly growth rate is good news for home building. 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… Read More ›