Tag Archive for ‘economics’

Number of Open Construction Jobs Climbs in June

The count of unfilled jobs in the construction sector increasing significantly in June, after falling in May. 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 225,000 in June. The cycle high was 238,000, set in July of last year. The June count is the highest since… Read More ›

LMI Indicates Continued Improvement Across the Country

According to the NAHB/First American Leading Markets Index (LMI), 89 percent, 299 metropolitan statistical areas, recorded growth in their LMI Score over the second quarter of 2017. The index uses single-family housing permits, employment, and home prices to measure proximity to a normal economic and housing market. The index is calculated for 337 local markets, metropolitan statistical areas (MSAs), as… Read More ›

Senior Loan Officer Survey As A Barometer of the Economy

Lending standards on business loans to large and medium-sized firms eased on net over the second quarter of 2017 according to the Federal Reserve Board’s Senior Loan Officer Opinion Survey. Historical evidence has shown that lending standards on business loans to these establishments is correlated with both the growth in the stock of business loans held by banks and with… Read More ›

Private Residential Construction Spending Dips in June

NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $502.9 billion in June, 0.2% lower than downwardly revised May estimates. It was the third consecutive monthly decrease after a strong start this year. Nevertheless, the total private residential construction spending was 9.2% higher than a year… Read More ›

Mortgage Rates on New Home Purchases Tick Up

Information provided by the Federal Housing Financing Agency indicates that mortgage rates on purchases of newly built homes ticked up by 3 basis points over June to 4.03 percent. However, at this level, rates remain below the 4.18 peak level recorded in February. Meanwhile, a more commonly used rate reported by Freddie Mac indicates that mortgage rates fell in June. Despite… Read More ›

Pending Sales Break Losing Streak

The Pending Home Sales Index increased for the first time since February and investors retreated, giving first-time buyers a better chance to enter the market. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 110.2 in June, up 1.5% from an upwardly revised 108.6 in May,… Read More ›

Economy Grew At a Faster Pace in Q2

In the second quarter of 2017, the nation’s economy grew at a faster pace than in the first quarter. According to the Bureau of Economic Analysis, real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the second quarter of 2017. In the first quarter, GDP grew at an annual rate of 1.2 percent. The first… Read More ›

New Home Sales Expand Moderately

Sales of new single-family homes rose 0.8 percent in June 2017 to 610,000 as reported jointly by the Census Bureau and the Department of Housing and Urban Development. The June increase reflected a downward revision to the estimate of new home sales in May. If the May sales number remained at its initially reported level of 610,000, then sales would… Read More ›

June Existing Sales Slow

Existing home sales decreased 1.8 % in June, but remain 0.7% above the pace a year ago. Some 54% of homes sold last month were on the market less than a month as buyers overcame low inventory and higher prices. June inventory declined 0.5%, and remains 7.1% lower than a year ago, having fallen year-over-year for the 25th consecutive month…. Read More ›