Tag Archive for ‘home building’

Consumer Credit Outstanding: Are Banks Losing Relevance?

The Federal Reserve Board recently reported that consumer credit outstanding rose by a seasonally adjusted annual rate of 7.4%, $246.3 billion, in March 2015. Over the first quarter of 2015, consumer credit outstanding increased by 5.4%. Consumer credit outstanding now totals $3.363 trillion. The expansion of total consumer credit outstanding largely reflected an increase in the outstanding amount of non-revolving consumer credit…. Read More ›

The Impact of Oil Prices on Bank Lending or “Will the Tail Wag the Dog?”

The Federal Reserve Board recently released its survey of senior bank loan officers. The April 2015 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards and terms on, and demand for, bank loans to households and businesses and over the first quarter of 2015. A previous post discussed a special question on bank approval of residential… Read More ›

According to the Survey (SLOOS), Size Really Does Matter

In the April 2015 iteration of the Senior Loan Officer Opinion Survey (SLOOS), the Federal Reserve Board included a special question on residential real estate lending. That special question asked banks about how they had responded to new guidelines issued by the GSEs on November 20, 2014, on the definition of life-of-loan representation and warranty exclusions. These policies were designed,… Read More ›

Residential Remodelers Account for 22% of NAHB Builder Membership

According to NAHB’s 2014 membership census, 22 percent of NAHB’s builder members are residential remodelers. The share of members reporting residential remodeling as their primary activity peaked in 2011 and has been steadily declining over the past three years. In 2011, 28 percent of NAHB’s builder members were residential remodelers, compared to 26 percent in 2012, 24 percent in 2013,… Read More ›

Eye on the Economy: Existing Home Sales Spring Forward

Spring brought good news for housing: a rise in pending and completed existing home sales. New home sales declined significantly in March, but the current pace of newly-built home purchases is up almost 20% from a year ago. Existing home sales soared 6.1% in March, with the share of sales for first-time buyers also increasing, according to estimates from the… Read More ›

You Are Not Alone, I Am Here With You: Housing Starts Still Recovering Across Parts of the World

The continued recovery in housing starts, relative to a period considered normal, is not isolated to the United States. Figures from the European Mortgage Federation, the Canada Mortgage and Housing Corporation, and the Japanese Ministry of Land, Infrastructure, and Transport indicate that while housing starts have recovered in some countries, they are still recovering in many others. Figure 1 below… Read More ›

Declines for Residential Construction Spending in March

NAHB analysis of Census construction spending data finds that over the last year, the pace of private single-family construction spending increased 7.8% and multifamily construction spending increased 23.4%, despite monthly declines for March. For the month, the seasonally adjusted annual rate of single-family construction spending was $200.7 billion, down 1.8% from February. The March rate of multifamily construction spending was $49.2 billion, 2.1% lower than February. The… Read More ›

Remodeling Jobs—Baths Edge Kitchens Again for Top Spot

To lead off National Home Remodeling Month in May, we report results from NAHB’s quarterly Remodeling Market Index (RMI) survey on the most common type of jobs performed by NAHB Remodelers in 2014. The results show that kitchen and bathroom remodeling remain the two most common types of projects, as they have been consistently since NAHB started asking the question… Read More ›

House Price Appreciation Moderates

The Federal Housing Finance Agency (FHFA) recently released the House Price Index (HPI) data for February, 2015. Figure 1 shows the House Price Index (HPI) data from January 1991 to February 2015. The annual growth rate is also presented in Figure 1. House price appreciation has been volatile but averaged approximately 5% from 1991 to 2003 prior to the housing… Read More ›