Tag Archive for ‘home building’

Pending Sales Skip a Beat

Pending home sales fell 1.1% in June, breaking a three month streak of improvement after a dismal winter. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 1.1% in June to 102.7 from a downwardly revised May level of 103.8. The June reading was down 7.3% on… Read More ›

New Home Sales: Cash Purchases on the Rise

The share of new single-family home sales purchased with cash rose during the second quarter of 2014, reaching 8.4% of sales. The onset of the housing crisis in 2007 led to a decline in the share of new home sales due to conventional mortgage financing and increases in the shares due to mortgages backed by the FHA and the Department of Veteran’s… Read More ›

Remodelers’ Confidence Recovers in the Second Quarter

NAHB’s Remodeling Market Index (RMI) rose three points to 56 in the second quarter of 2014; essentially reclaiming the territory it had lost during what was likely a weather-related dip in the fist three months of the year.The RMI is based on a quarterly survey of NAHB remodelers, and is an average of separate indices for remodelers’ ratings of current… Read More ›

Existing Sales Pass 5 Million

Existing home sales continued to increase from the winter quarter and passed the 5 million mark for the first time since October 2013. This increase is positive news for future new home sales because each prospective repeat buyer must sell their existing home before buying a newly built home. Existing home sales increased 2.6% in June, but are still 2.3%… Read More ›

Green Building Certification

Among single-family builders, the National Green Building Standard (NGBS) is the most commonly used green building certification. McGraw Hill Construction’s data and analytics team surveyed a set of NAHB single-family and multifamily members in 2013. From 2011 to 2013, the percentage of single-family firms using the NGBS has grown from 21% to 30%. In contrast, 13% of single-family builders reported use… Read More ›

Housing Construction Pauses

According to the Census Bureau and HUD, housing starts activity dipped 9.3% in June to an 893,000 seasonally adjusted annual rate. The drop was concentrated in the South region where single-family starts fell 70,000, accounting for more than the total national drop of 57,000. Multifamily starts also fell 88,000 units in the South accounting for more than the 35,000 total… Read More ›

Builder Confidence Surpasses Key Benchmark in July

Builder confidence in the market for newly-built single-family homes rose four points to a reading of 53 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Any reading over 50 indicates that more builders view sales conditions as good than poor. The July reading marks the first time since January that the index has been above a level of… Read More ›

The Economic Impact of the Affordable Housing Credit

In addition to ensuring the supply of affordable rental housing, the Low-Income Housing Tax Credit (LIHTC) supports jobs and provides benefits to the economy. Using the NAHB economic impact model of home building, revised industry estimates reveal that the LIHTC program supports almost 96,000 jobs in a typical year. NAHB recently updated its economic impact model of home building, which indicate that… Read More ›