Eye On Housing
Housing news turned positive this week as spring gave way to summer. Future data will confirm whether the recent turn in momentum reflects a return to the improving trend that was in place before the end of 2013, but early signs are encouraging. New single-family home sales reached their highest pace in six years in May. According to estimates from… Read More ›
Tag Archive for ‘eye on the economy’
Eye on the Economy: Slow Progress after a Tough Quarter
The overall economy slowed at the start of 2014, which took a toll on housing and economic activity. According to the Bureau of Economic of Analysis, real GDP contracted at a 1% seasonally adjusted annual rate during the first quarter. Growth would have been slightly positive absent a decline in business inventory investment. However, this drawdown sets the stage for… Read More ›
Eye on the Economy: New Home Sales and Starts Post Gains in April
Housing data for April offered positive news as the traditional spring housing season began with the pace of home building and new home sales increasing for the month. The monthly rate of housing construction starts exceeded 1 million for first time since last year and housing permits were over 1 million for a third consecutive month. However, the monthly increases… Read More ›
Eye on the Economy: Home Improvement Season
After a weak performance for the economy as a whole during the first quarter, spring is a time for improvements – for homes and the overall housing market. May is National Home Remodeling Month, and NAHB has useful data for remodelers who want to know why home owners are undertaking improvements, as well as the most common types. Among remodelers participating… Read More ›
Eye on the Economy: Mixed Signals as Spring Data Bloom
With the unseasonably cold winter now finally over, the spring home building and selling season has begun. Economic data thus far presents mixed news. For example, new home sales disappointed for the month of March. The U.S. Census Bureau and the Department of Housing and Urban Development reported that March new home sales were down 14.5% in March to a… Read More ›
Eye on the Economy: Builder Confidence Flat As Winter Ends
An unseasonably cold winter took its toll on economic activity at the start of 2014, causing many key market measures to fall short of initial forecasts. For example, first quarter GDP growth will likely prove to have been less than 1%. However, as winter turns to spring, we can expect a rebound as consumers undertake activities that may have been… Read More ›
Eye on the Economy: Existing Home Sales Down, New Home Sales Flat
In many parts of the country, spring began with winter-like conditions persisting. Without a doubt, unseasonably cold temperatures reduced economic activity during the first quarter of 2014, including home sales and construction. However, housing demand also weakened due to recent changes on the demand side of the market. Such changes can be seen in the contrasting data concerning new and… Read More ›
Eye on the Economy: February Construction Holds Steady
As the unusually cold winter continued in many parts of the country, March builder confidence remained steady. The NAHB/Wells Fargo Housing Market Index came in at a level of 47, one point lower from February’s 46. Ongoing weather challenges and increasing concern among builders about supply chain issues have held builder confidence down in recent months. Census reported housing construction… Read More ›
Eye on the Economy: New Home Sales Bounce Back in January
The housing market and the broader economy shivered at the end of 2013 as weather-related factors held consumers back and generated production delays. These impacts should prove temporary and our forecast remains positive for housing and home building for the year to come. Indeed, reports from January suggest some improvement over disappointing December data. New home sales in January, as… Read More ›
Eye on the Economy: Cold Start for 2014
Weather and supply chain issues took a toll on home builder confidence and housing production at the start of 2014. The February NAHB/ Wells Fargo Housing Market Index fell 10 points to 46, dropping below the key 50 threshold for the first time since May 2013. The decline is the largest in the 30-year history of the index. Mirroring the… Read More ›