Tag Archive for ‘economics’

Remodeling in 2017: Baths Reclaim Top Spot from Kitchens

May is National Home Remodeling Month.  Following the tradition established in recent years, the month’s first related post covers the most common types of remodeling projects performed by NAHB Remodelers during the previous calendar year.  Results come from a special question on NAHB’s Remodeling Market Index (RMI) survey for the first quarter of 2018. The results show kitchen and bathroom remodeling… Read More ›

Pending Home Sales Increase Slightly in March

Pending home sales increased slightly in March, but the lack of choice among prospective buyers continues to impede the number of new contracts. The Pending Home Sales Index increased 0.4% in March, but remains 3.0% below the level a year ago, and the PHSI declined on an annualized basis for the third straight month. The Pending Home Sales Index (PHSI)… Read More ›

Nation’s Economy Grows in the First Quarter

In its first or “advance” estimate, the Bureau of Economic Analysis (BEA), reported that the nation’s economy, as measured by real gross domestic product (GDP), rose by 2.3 percent on a seasonally adjusted annual rate basis in the first quarter of 2018. This is the second consecutive quarter in which growth slowed. However, this is the fourth consecutive quarter in which… Read More ›

Job Growth Strongest Across States in the West and the South

According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 40 states and the District of Columbia, and decreased in 10 states in March 2018 compared to February 2018. Year-over-year, 48 states and the District of Columbia increased in employment while two states, Alaska and North Dakota lost payroll employment during this time. However, the gains across most… Read More ›

New Home Sales Rise But With Underlying Variation

According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, sales of new homes rose by 4.0 percent over the month of March to reach a seasonally adjusted annual rate of 694,000. Year-to-date, covering the first quarter of 2018, the total number of new homes sold is 10.3 percent ahead of its pace over the first… Read More ›

Existing Sales Rise 1.1 Percent in March

Existing-home sales increased 1.1% in March, but remain down 1.2% from a year ago. The first-time buyer share of 30% is also down from 32% a year ago. The National Association of Realtors reported that 50% of homes sold last month were on the market less than a month. The March inventory increased 5.7%, but remains 7.2% below the level… Read More ›

Small Gain for Housing Starts in March

Total housing starts increased slightly in March, led by multifamily construction strength. Starts increased 1.9% to a 1.32 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. However, the pace of single-family starts declined in March, falling 3.7% to an 867,000 seasonally adjusted annual rate, due to lingering weather effects in some parts… Read More ›

Builder Confidence Slips One Point, Remains in Solid Territory

Builder confidence in the market for newly-built single-family homes edged down one point to a level of 69 in April on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) but remains on firm ground. Strong demand for housing is keeping builders optimistic about future market conditions. However, builders are facing supply-side constraints, such as a lack of… Read More ›

Construction Job Openings Higher Year-Over-Year

The count of unfilled jobs in the construction sector declined in February, but remains higher than a year ago. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs came in at 196,000 in February. The post-recession high count of open, unfilled construction jobs was 255,000 in July of… Read More ›