Tag Archive for ‘home building’

Rates on New Home Loans Hit 2015 High

On average, the contract rate on conventional mortgages used to purchase newly-built homes increased 12 basis points in July, to 3.98 percent, according to data released yesterday by the Federal Housing Finance Agency (FHFA).  At 3.98, this is the highest the contract rate has been since December of last year. Initial fees have some ability to offset increases in a… Read More ›

Pending Sales Maintain the Ride Up

The Pending Home Sales Index increased in July for the sixth time in seven months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 0.5% in July from an upwardly revised June report, and is up 7.4% from the same month a year ago. Most of the… Read More ›

House Prices Rise in the Second Quarter of 2015; Appreciation Will Continue Through 2016

The recent release from Standard and Poor’s (S&P) and Case-Shiller indicates that their measure of national house prices, the House Price Index – National, rose by 0.3% on a quarterly seasonally adjusted basis in the second quarter of 2015. Including a .03% rise in the first quarter of 2012, the second quarter of 2015 marks the 14th consecutive quarter-over-quarter increase in the house… Read More ›

Are AD&C Lending Conditions Tightening?

Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans according to NAHB’s most recent survey on AD&C financing, although a separate Federal Reserve survey is trending differently. In the second quarter of 2015, the overall net tightening index of the NAHB survey was -30.7,which represents somewhat less easing than in the first quarter… Read More ›

Increase for Single-Family Built-for-Rent Construction

Single-family homes built-for-rent increased to approximately 8,000 starts for the second quarter of 2015, compared to about 6,000 for the same period of 2014. The share and count of built-for-rent starts are off post-recession highs and will likely approach historical norms as the housing market continues to expand. However, given the relatively small size of this market, care must be taken when tracing changes in the… Read More ›

Serious Delinquency Rates Continue Their Descent

According to a report by the Mortgage Bankers’ Association the delinquency rate for mortgage loans on 1-4 unit residential properties decreased to a seasonally adjusted rate of 5.30% of all loans outstanding at the end of the second quarter of 2015, 24 basis points less than its level in the first quarter of 2015 and 74 basis points below its level one… Read More ›

New Multifamily Unit Size Dips

An elevated market share for rental multifamily homes is holding typical new apartment size below levels seen during the housing boom. However, as multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. The recent pattern of change in the size of new multifamily units stands in contrast to the post-recession increase in the size of… Read More ›

Existing Sales Grow – Except for First-Time Buyers

Existing home sales, as reported by the National Association of Realtors, increased for the third consecutive month in July, and remained at the highest level since February 2007; but the first-time buyer share fell for the second consecutive month to the lowest level since January. Total existing home sales increased by 2.0% in July to a seasonally adjusted rate of… Read More ›

Year-over-Year Gains for Custom Home Building

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates that the number of custom home building starts (homes built on an owner’s land, with either the owner or a builder acting as the general contractor) posted a slight increase on a year-over year basis as of the second quarter of 2015. Over the last four quarters,… Read More ›