Tag Archive for ‘home building’

Open Construction Jobs Decline Off Cycle High

The count of unfilled jobs in the construction sector pulled back in September, off a upwardly revised August estimate that marked a post-recession high. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs decreased to 278,000 in September. The August estimate of open construction jobs was revised up… Read More ›

Sale and Contract Prices per Square Foot in 2017

Looking at single-family homes started in 2017, the median prices per square foot, excluding improved lot values, range from $155 for contractor-built homes in the Pacific division to $86 for speculatively built homes in the East South Central division. The median sale and contract prices per square foot are up across most divisions. The most significant gains are registered in… Read More ›

Declines for Housing Share of GDP

With the release of the first estimate of third quarter 2018 GDP growth (a 3.5% annual growth rate), housing’s share of gross domestic product (GDP) fell slightly to 14.9%. The home building and remodeling component – residential fixed investment – also decreased slightly, falling to 3.25% Housing-related activities contribute to GDP in two basic ways. The first is through residential fixed investment (RFI). RFI is… Read More ›

Pending Home Sales Stabilize

Pending home sales increased in September, but have decreased on an annual basis for nine consecutive months. The Pending Home Sales Index increased 0.5% in September, but remains down 1.0% year-over-year. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI increased to 104.6 in September,… Read More ›

Share of New Homes with Patios Climbs over 58 Percent

Of the roughly 850,000 single-family homes started in 2017, 58.6 percent included patios, according to NAHB tabulation of data from the Survey of Construction (SOC, conducted by the U.S. Census Bureau and partially funded by HUD).  Among the outdoor features captured in the SOC, this makes patios considerably more common than decks (included on 23.8 of homes started in 2017),… Read More ›

Existing Sales Fall

Existing-home sales in September declined 3.4% to the lowest level since November 2015, and are now down 4.1% from a year ago. The first-time buyer share of 32% was up from 31% last month and 29% a year ago. The National Association of Realtors reported that 47% of homes sold in September were on the market less than a month…. Read More ›

Unfilled Construction Sector Jobs Continue to Rise

The count of unfilled jobs in the construction sector increased in August, reaching yet another post-Great Recession high level. The rate of open construction sector jobs also set a cyclical high. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs increased to 298,000 in August. The prior post-recession high… Read More ›

Builder Confidence Rises One Point in October, Remains at Summer Levels

Builder confidence in the market for newly-built single-family homes rose one point to 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence levels have held in the high 60s since June. Builders continue to view solid housing demand, fueled by a growing economy and a nearly 50-year low for unemployment. Lumber price… Read More ›

Single-Family Residential Permits Decline in Northeast

Over the first eight months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 599,117. On a year-over-year basis, this is a 6.6% increase over the August 2017 level of 561,938. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first eight months of 2018 was, 599,200 which is… Read More ›