Tag Archive for ‘home building’

New Home Sales: Growth for FHA-Backed Mortgage Share

NAHB analysis of the most recent Census numbers reveals two consecutive quarters of higher market share of FHA-backed mortgages for the new home sale sector. This development comes after a reduction in FHA premiums announced at the start of 2015. Despite the surprising drop for the pace of new home sales in June (down 6.8%), the strong non-seasonally adjusted sales level for… Read More ›

New Home Sales in June – A Bumpy Ride Up

The US Census Bureau and Department of Housing and Urban Development in a joint release reported that newly constructed single family homes sold at a seasonally adjusted annual pace of 482 thousand in June, down from May’s 517 thousand pace (-6.8%), but up from the June 2014 pace of 408 thousand (18.1%). The inventory of new homes for sale inched… Read More ›

In Second Quarter, NAHB’s Index of Remodeler Confidence Rebounds

In the second quarter, NAHB’s Remodeling Market Index (RMI) rebounded two points to 59 (after having slipped slightly from 60 to 57 in the first quarter). An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower.  The RMI, which averages ratings of current remodeling with indicators of future activity, has been over… Read More ›

Existing Home Sales Rise to Pre-Recession Level

Existing home sales, as reported by the National Association of Realtors, increased in June to the highest level since February 2007. Although the June percent share of first-time buyers declined from May to 30%, that share remained at or above 30% for the fourth consecutive month. Total existing home sales increased by 3.2% in June to a seasonally adjusted rate… Read More ›

Euro Area Mortgage Debt Outstanding Continues to Expand

In the US, the multi-year decline and the more recent moderate recovery in mortgage debt outstanding has been well documented. However, mortgage debt outstanding in the Euro Area has had a different experience. According to the European Mortgage Federation, and documented in Figure 1 below, mortgage debt outstanding has been rising in recent years. After recording year-over-year increases between 2002,… Read More ›

Multifamily Drives June Starts Growth

Total housing starts expanded 9.8% month-over-month in June, reaching a 1.174 million annual starts pace. The strong growth rate was driven by the multifamily sector. According to the estimates from the jointly published Census Bureau and HUD June report, single-family starts were effectively flat, recording a 0.9% monthly decline to a 685,000 seasonally adjusted annual rate. Single-family starts were up 14.7% over the June 2014 pace and, as… Read More ›

Builder Sentiment Reaches New High

The NAHB/Wells Fargo Housing Market Index reached 60 in July and along with the one-point upward revision to June’s index mark a high in the index not seen since November 2005. Two of the three components of the index also rose to levels last seen in late 2005. The index of current sales rose one point from the June level… Read More ›

Consumer Credit Growth Slows

The Federal Reserve Board recently reported that consumer credit outstanding rose by a seasonally adjusted annual rate of 5.7%, $193.0 billion, in May 2015, slower than the 7.6% rate of growth recorded in April 2015. Consumer credit outstanding now totals $3.401 trillion. The expansion of total consumer credit outstanding partly reflected an increase in the outstanding amount of non-revolving consumer credit. Non-revolving… Read More ›

New Study Highlights Importance of Like-Kind Exchange Rules

New academic analysis illustrates the critical role that tax code’s like-kind exchange rules play for the real estate sector. The research was authored by David Ling of the University of Florida and Milena Petrova of Syracuse University, with financial support from the Real Estate Like-Kind Exchange Coalition, which is comprised of organizations representing all sectors of the real estate industry, including… Read More ›