Tag Archive for ‘home building’

Construction Job Openings at Cycle High

The count of unfilled jobs in the overall construction sector reached a post-Great Recession high in February. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) increased to 193,000 in February from a downwardly revised estimate of 157,000 in January. The current estimate beat the previous cycle high of 177,000 unfilled positions set last May and… Read More ›

NAHB Estimates 55,000 Single-family Tear-down Starts in 2015

Approximately 7.7% of single-family home starts in 2015 were attributable to tear-down related construction, according to the latest estimates from NAHB. Tear-down starts refer to construction of a home on a site where a previous structure was torn down before the new home could begin development. NAHB estimates 55,000 total tear-downs for 2015. Anecdotal evidence suggests that tear-down construction has become a… Read More ›

Pending Sales Strong

The Pending Home Sales Index increased 3.5% in February to the highest level in seven months, and has increased year-over-year for 18 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 109.1 in February from a downwardly revised 105.4 in January, and was 0.7%… Read More ›

Housing Share of GDP: Fourth Quarter of 2015

With the release of the final estimates of fourth quarter 2015 GDP (a 1.4% annual growth rate), housing’s share of gross domestic product (GDP) was effectively unchanged at 15.30%. However, the home building and remodeling component – residential fixed investment – expanded for the fifth consecutive quarter to 3.32% of total GDP. Housing-related activities contribute to GDP in two basic ways. The first is through… Read More ›

Eye on the Economy: Starts and Sales Improved in February

***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis. As existing home sales weakened due to limited inventory, home building-related activity improved in February, albeit modestly. Builder sentiment, as measured by the NAHB/Wells Fargo Housing Market Index stands at a level of 58 as of March, consistent with a generally positive outlook tempered by concerns regarding… Read More ›

New Homes Sales Post Slight Rebound

The February pace of new home sales was up 2% nationwide, according to estimates published by the Census Bureau and the Department of Housing and Urban Development. At a seasonally adjusted annual rate of 512,000, the February rate posted a slight improvement over the upwardly revised January estimate, which increased from a 494,000 annual rate to 502,000. Since 2011, new… Read More ›

Over Half of New Homes are Built in Community Associations

According to data from the Census Bureau’s Survey of Construction (SOC), 58 percent of all homes started in 2014 were built within a community or home owner’s association. The Census Bureau defines a community or homeowner’s associations as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions; these organizations are usually created… Read More ›

Elevated Count of Unfilled Construction Jobs in January

The count of unfilled jobs in the overall construction sector reached a post-Great Recession high in January of 2016. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) increased to 185,000 in January from 124,000 in December. The January estimate beat the previous cycle high of 177,000 open positions set last May and represents… Read More ›

Top Ten Publicly-Traded Builder Share Retreats in 2015

The 2015 top ten publicly-traded builders captured a 25.6% share of new single-family home closings, down from 26.4% in 2014. The 25.6% share in 2015 is out of the 502,000 new home sales reported by the Census Bureau. However, this count represents a smaller share of the total single-family market when not-for-sale, custom home building is included. Top Ten Builder… Read More ›

Housing Production Rebounds

Builders started production on 1,178,000 homes in February on a seasonally-adjusted annualized basis. That is a 5.2% increase over a modest slump in January and a 30.9% increase from last February. The increase was broad based with both single-family increasing 7.2% to its highest level since November 2007 and multifamily virtually unchanged at a 0.8% increase. As further evidence of… Read More ›