Tag Archive for ‘economy’

Producer Prices Surprise in July

Contrary to economists’ expectations of a small gain, inflation in prices received by producers (prior to sales to consumers) fell 0.4% in July, nearly erasing June’s 0.5% increase. According to the latest Producer Price Index (PPI) release by the Bureau of Labor Statistics, the decline was a result of nearly identical drops in prices of services and goods of 0.3%… Read More ›

Producer Price Index Posts Broad-Based Gains

Inflation in prices received by producers (prior to sales to consumers) increased 0.5% in June according to the latest Producer Price Index release by the Bureau of Labor Statistics.  The increase was driven by a 0.4% increase in the price of services, while the final demand index for goods rose 0.8% (the price of services is weighted roughly double the… Read More ›

Property Tax Revenue Grows Over Four Percent

NAHB analysis of the Census Bureau’s quarterly tax data shows that $524 billion in taxes were paid by property owners over the four quarters ending in Q1 2016. This represents a $22 billion—or 4.4%—increase over the previous trailing four quarters, the largest percentage increase since 2009. Property taxes accounted for 39.3% of state and local tax receipts, the largest share… Read More ›

US Real House Prices In a Global Context: Is The Dress White and Gold or Blue and Black?

According to the Global Housing Watch at the International Monetary Fund (IMF), real house prices across the world continued to grow in the in the 4th quarter of 2014, however, global house prices remain below their pre-financial crisis peak. Globally, real house prices rose by 1.6% over the 4 quarters ending in the 4th quarter of 2014, 0.6 percentage points… Read More ›

Fed Provides Deeper Look at Lending Standards on Residential Mortgages

The Federal Reserve Board recently released its survey of senior bank loan officers. The January 2015 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the fourth quarter of 2014. The January 2015 iteration of the survey featured revised and expanded categories of… Read More ›

House Price Growth Shows Signs of Normalizing

The recent release by the Federal Housing Finance Agency (FHFA) shows that its measure of house prices, House Price Index – Purchase Only, rose by 5.3% on a 12-month seasonally adjusted basis in November 2014. This marks the 34th consecutive month of year-over-year growth. Over this period of more than two-and-a-half years, house prices have risen by 19.0% and have… Read More ›

Is it Easy to Obtain a Mortgage?

For many households, obtaining a mortgage is the most important step when seeking to purchase a home. As housing analysts, a natural question to ask when assessing the prospects for home buying is “how easy is it for households to obtain a mortgage?” The Federal National Mortgage Association (FNMA) or Fannie Mae attempts to shed light on this question with… Read More ›

MBA Introduces New Index Tracking Mortgages for New Homes

According to the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS), mortgage applications for new home purchases decreased by a not seasonally adjusted monthly rate of 8.4% in May 2014. However, on a 12-month basis, mortgage applications for new home purchases in May 2014 were 4.9% higher than their level in May 2013. This is the fifth consecutive month of… Read More ›

Economists Agree That Housing Recovery Likely To Continue

Yesterday, NAHB hosted its bi-annual Construction Forecast Webinar (CFW). The CFW featured three industry experts. NAHB Chief Economist David Crowe was joined by Maury Harris, Chief US Economist at UBS, and NAHB Senior Economist Robert Denk to present views on the outlook for the US economy and the housing market more specifically. Here are the major points from the presentation:… Read More ›

A Good Source for Property Tax Information

Property tax systems vary markedly in the United States. From assessment ratios to valuation standards even the terminology is inconsistently applied. The differences exist not only across states but often within states. In Illinois, for example, real property is assessed at 33.33% of fair cash value for all counties except those with a population of more than 200,000. Thankfully, keeping… Read More ›