Tag Archive for ‘home building’

Stronger Growth for Residential Construction Employment

The count of unfilled jobs in the overall construction sector increased in November, as hiring in the home building sector accelerated. 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 135,000 in November from 121,000 in October. The cycle high of 168,000 open positions was set during March…. Read More ›

Homebuilder and Remodeler Cost Breakdown

NAHB analysis of the latest Economic Census data shows that, on average, residential construction establishments were able to cover their hard and soft construction costs and generate positive profits in 2012. The 2012 data show that the direct costs of construction – consisting of construction payroll, costs of construction work subcontracted out to others, and costs for materials/supplies – vary… Read More ›

Pending Sales Fade

For the third time in four months, the Pending Home Sales Index decreased in November, but has increased year-over-year for 15 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 0.9% in November to 106.9 from an upwardly revised 107.9 in October, but remained 2.7%… Read More ›

Eye on the Economy: The Fed Moves

***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. After a long period of speculation, the Federal Reserve lifted its target for the short-term federal funds rate from 0-25 basis points to 25-50 basis points. The path of subsequent increases is expected to be gradual and will be dependent on the… Read More ›

Existing Sales Surprise

Existing home sales, as reported by the National Association of Realtors (NAR), decreased 10.5% in November to the lowest level since April 2014, a decline NAR attributed to the implementation of The Know Before You Owe mortgage disclosure rule by the Consumer Financial Protection Bureau (CFPB). The new rule was designed to help consumers understand their loan options and avoid… Read More ›

Housing Share of GDP: Third Quarter 2015

With the release of the final estimates of third quarter 2015 GDP (a 2% annual growth rate), housing’s share of gross domestic product (GDP) was effectively unchanged at 15.32%. However, the home building and remodeling component – residential fixed investment – expanded for the fourth consecutive quarter to 3.26% of total GDP. Housing-related activities contribute to GDP in two basic ways. The first is through… Read More ›

Housing Under Construction – November Data

Due to the surge in multifamily development and the ongoing modest growth for single-family, there has been a noticeable shift in the market shares of housing units under construction. The Census housing starts data illustrate a trend to more multifamily units in the production pipeline. Using the seasonally adjusted Census estimates, at the end of November there were 549,000 multifamily units… Read More ›

Tax Extenders Bill: What the Housing Industry Needs to Know

As Congress looks to wrap up its work for 2015, a bipartisan agreement was reached on two key pieces of legislation: an omnibus spending bill to fund the federal government and a more than $600 billion bipartisan tax bill that extends a number of tax policies, including some related to housing, construction and real estate. Some extensions are made on a permanent basis, and… Read More ›

Builders’ Sentiment Steady

Single-family home builders sentiment remained near the same level established in June 2015. The NAHB/Wells Fargo Housing Market Index fell one point to 61 in December. The index has been between 60 and 62 for six of the last seven months with only October rising briefly to 65. The three components mirrored the trend with current sales falling one point… Read More ›

Eye on the Economy: Waiting for the Fed

***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. A positive labor market report for November signals that the market can expect an increase in short-term interest rates from the Federal Reserve soon. The Bureau of Labor Statistics estimated net job growth of 211,000 in November, plus an additional 35,000 in… Read More ›