Tag Archive for ‘eye on the economy’

Eye on the Economy: A Slow Start for 2015

Housing and residential construction have gotten off to a slow start at the beginning of the year. January data have been disappointing, although current indicators continue to suggest home building will grow in the year ahead. In particular, solid job growth and historically low mortgage rates should help unleash growing pent-up demand and keep the housing market moving forward. Home… Read More ›

Eye on the Economy: Jobs Gains Will Support Housing Demand

The end of 2014 saw an acceleration of job creation that compared favorably with the poor start to the year. Combined with the ongoing expansion of consumer confidence, these trends will help support housing demand and residential construction during 2015. The Bureau of Labor Statistics (BLS) reported that payroll employment expanded by 257,000 in January, with an additional 147,000 jobs… Read More ›

Eye on the Economy: Labor Market Gains and Rising Consumer Confidence

Rising consumer confidence and recent labor market gains are positive developments for rental and owner-occupied housing demand going into 2015. The Thomson Reuters/University of Michigan Consumer Sentiment Index December reading rose to the most favorable level since its last cyclical peak in January 2007. The survey indicated consumers anticipated a significant income increases in 2015. The separate Conference Board Consumer… Read More ›

Eye on the Economy: Hiring Gains a Positive for Housing

Good employment data offer a positive for housing as the market transitions from summer to fall. According to the Bureau of Labor Statistics (BLS), 248,000 net jobs were created in September. August gains were revised from a disappointing 142,000 to a slightly better 180,000, while July’s tally was also revised from 212,000 to 243,000. The separate BLS household survey indicated… Read More ›

Eye on the Economy: New Home Sales Jump in August

New home sales rebounded in August, increasing 18% to a seasonally adjusted annual rate of 504,000, according to estimates from the Census Bureau and HUD. These gains were atop upward revisions for the July pace. The August rate is 33% higher than August 2013 and is a solid indication of the ongoing recovery in the single-family market. The inventory of… Read More ›