Tag Archive for ‘home building’

Great Expectations

Spurred by improved consumer expectations, the Thomson Reuters/University of Michigan Consumer Sentiment Index reached its highest level since July 2007, and the Conference Board Consumer Confidence Index increased sharply. This 3-month moving average charts both surveys. The Consumer Sentiment Index increased to 86.9 in October from 84.6 the previous month. The survey’s measure of consumer expectations increased to 79.6 in… Read More ›

Rate on New Home Loans Stays Just Above 4 Percent

Earlier today, the Federal Housing Finance Agency (FHFA) reported that mortgage interest rates declined in September.  That was true as well for the subset of mortgages used to purchase newly built homes, but the changes were very small.  On conventional mortgages for new homes, the average contract interest rate edged down by just 2 basis points, to 4.11 percent. Meanwhile, the average… Read More ›

House Prices Inch Toward Recovery

Recently released data by Standard and Poor’s (S&P) and Case-Shiller indicates that its measure of house prices, the House Price Index – National, rose by 5.1% on a year-over-year seasonally adjusted basis (5.1% on a not seasonally adjusted basis). This is the 28th consecutive month of year-over-year increases in the house price index. Over this period of more than two… Read More ›

Pending Sales Trend Up

Pending home sales increased 0.3% in September, suggesting continued steady improvement in existing sales. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 105.0 in September from 104.7 in August. The September reading was up 1.0% from the same month a year ago, and pending sales… Read More ›

Home Sales Hold Steady

September new home sales were virtually unchanged from a revised August report. At an annual rate of 467,000, new home sales were the highest since July 2008. The August number was revised downward after an unusually large and unsustainable spike. Given the month-to-month variation in the series, a quarterly average may be clearer. The third quarter finished at 446,000 up… Read More ›

Increased Sales Leave First-Time Buyers Behind

Existing home sales increased to the highest level of the year, having posted gains for five of the last six months, despite weakness among first-time buyers. Existing home sales increased 2.4% in September, but remain 1.7% below the same period a year ago. The National Association of Realtors (NAR) reported September 2014 total existing home sales at a seasonally adjusted… Read More ›

Regional Differences in New Home Financing

According to NAHB analysis of the 2013 Census Bureau Survey of Construction (SOC) data, use of non-conventional financing methods to purchase new homes varies widely across the country. The West South Central divison is most heavily reliant on mortages insured by the Federal Housing Administration (FHA) with the share of FHA-insured loans reaching almost 20 percent. At the same time,… Read More ›

Where are Homes Built on Private Wells and with Individual Septic Systems?

According to NAHB analysis of the Survey of Construction (SOC) data, only 8 percent of new single-family homes started in 2013 are served by individual wells and only 15 percent have private septic systems. These shares, however, vary widely across the nine Census divisions and reach 42 and 51 percent, respectively, in New England. The SOC which is conducted by… Read More ›