Tag Archive for ‘home building’

Builders’ Confidence Continues to Build

Home builders confidence is marching toward the 2014 high established in January as more buyers return to the market. The August NAHB/Wells Fargo Housing Index rose two more points to 55 approaching the 2014 high in January of 56. All three subcomponents of the index also increased, two to a high for the year. Expectations for the next six months… Read More ›

Affordability Approaches Pre-2004 Norm as Prices Firm

Housing affordability dipped slightly in the second quarter of 2014 as several markets saw a firming of home prices, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI).  Nationwide, the second quarter HOI was 62.6—i.e., 62.6 percent of new and existing homes sold during the quarter were affordable to a family earning the U.S. median income of $63,900—down about three percentage points from the first… Read More ›

Residential Construction Employment Up More Than 300,000 Since Start of 2011

The number of open, unfilled construction sector jobs posted a small increase in June, as the count of job gains in the residential construction sector passed the 300,000 mark since cycle lows. According to the BLS Job Openings and Labor Turnover Survey (JOLTS), the number of open construction sector jobs increased on a seasonally adjusted basis from a downwardly revised 125,000 in May to 127,000 in… Read More ›

Builder Confidence in the 55+ Market Again Positive

Builder confidence in the single-family 55+ housing market was up again on a year-over-year basis in the second quarter, according to NAHB’s 55+ Housing Market Index (HMI).  Compared to the second quarter of 2013, the 55+HMI for new single-family housing increased three points to 56–the highest second-quarter reading since the inception of the index in 2008 and the 11th consecutive quarter of year… Read More ›

Global House Prices Continue to Tick Up

House price appreciation has slowed in the past several months in the US. An international comparison places recent US price changes in sixth place. Global house prices rose 0.39% for the first quarter of 2014, as prices increased for the fifth consecutive quarter. According to the Globalization and Monetary Policy Institute of the Federal Reserve Bank of Dallas global house… Read More ›

Residential Construction Spending Up 7.4% Year-Over-Year

Despite two consecutive monthly declines, the value of construction spending remains higher than levels recorded a year ago. For the month of June, Census data indicate that the total value of private residential construction spending (put-in-place) declined 0.3% from May to a seasonally adjusted annualized rate of $356 billion. Single-family spending was down in June by 1.4%, to a $184 billion rate…. Read More ›

NAHB Releases New “Priced Out” Numbers

NAHB Economics recently released its 2014 Priced Out Estimates showing that, nationally, a $1,000 increase in the median new home price (triggered, for example, by additional regulation) prices 206,269 households out of the market for the home. This means that 206,269 U.S. households could qualify for a mortgage on the median-priced new home before, but not after, the price increase…. Read More ›

Rates on New Home Loans Rise, Amount Declines

Earlier today, the Federal Housing Finance Agency (FHFA) reported a slight (4 basis point) decline in mortgage interest rates for the month of June. However, the decline was driven entirely by loans on existing homes. The average interest rate on conventional mortgages used to purchase newly built homes moved in the opposite direction, and the increase was fairly strong. The contract… Read More ›