Tag Archive for ‘home building’

Slight Uptick in Rates on Loans for New Homes

This morning, the Federal Housing Finance Agency (FHFA) reported that interest rates on home mortgages increased slightly in March.  The same was true for the subset of mortgages used to purchase new homes. On conventional mortgages used to purchase newly built homes, the average contract rate and average initial fees and charges each increased by 2 basis points.  The contract… Read More ›

Occupations in the Home Building and Remodeling Industry

Home building, remodeling and the overall residential construction industry support many types of jobs. BLS data from the 2014 Occupational Employment Statistics (OES) Survey, and NAHB analysis, provide a count of these occupation classes. The OES survey defines employment as the number of workers who can be classified as full- or part-time employees. The following profile examines the Residential Building Construction industry group,… Read More ›

US Real House Prices In a Global Context: Is The Dress White and Gold or Blue and Black?

According to the Global Housing Watch at the International Monetary Fund (IMF), real house prices across the world continued to grow in the in the 4th quarter of 2014, however, global house prices remain below their pre-financial crisis peak. Globally, real house prices rose by 1.6% over the 4 quarters ending in the 4th quarter of 2014, 0.6 percentage points… Read More ›

Top Builder Challenges

Builders surveyed in January 2015 ranked the most significant problems expected to face the industry in 2015. Topping the list was the Cost/Availability of Labor, an issue which has increased in importance the past two years. In 2013, 53% of builders rated Labor as a significant problem, followed by 61% in 2014 and 68% in 2015. This trend suggests an… Read More ›

Wage Growth in the Home Building/Remodeling Industry

Over the 2012-2014 period, rising job openings and employment in the residential construction industry have led to wage increases, with some occupations within the home building and remodeling sector experiencing wage growth at a rate twice the national average. According to Bureau of Labor Statistics Occupational Employment Statistics Survey (OES) data and NAHB analysis, the 2014 median annual wage of most positions in… Read More ›

Spring for Existing Home Sales in America?

Existing home sales soared 6.1% in March, and the share of sales for first-time buyers also increased. The National Association of Realtors (NAR) reported March 2015 total existing home sales at a seasonally adjusted rate of 5.19 million units combined for single-family homes, townhomes, condominiums and co-ops, up from an upwardly revised 4.89 million units in February. March existing sales… Read More ›

Eye on the Economy: Modest Gains for Home Construction

After a disappointing set of housing data last month, recent reports suggest a return to trend for home building as the nation enters the spring home buying season. Home builders reversed a one-month decline in sentiment as the April NAHB/Wells Fargo Housing Market Index (HMI) increased 4 points to 56 in April from a one-point downwardly revised 52 in March…. Read More ›

Inflation Trajectory?

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in March for the second consecutive month, compared to a 0.1% decline over the past 12 months. According to the latest release from the Bureau of Labor Statistics (BLS), the seasonally adjusted increase in March was the result of increases in the energy and shelter indexes offsetting a decrease… Read More ›