Tag Archive for ‘home building’

New Home Sales Rise in March with Lower Rates

Contracts for new, single-family home sales increased almost 5% on a monthly basis to a 692,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The months’ supply number improved to 6.0, which indicates the market is stabilizing after the fall off in sales last Fall due to higher interest rates. The… Read More ›

Housing Construction Weakness Continued in March

According to a estimates from the U.S. Housing and Urban Development and Commerce Department, single-family starts continued to show weakness in March, despite the recent stabilization in the NAHB/Wells Fargo Housing Market Index (HMI). After downward revisions made to the February data, single-family starts were down 0.4% to a 785,000 seasonally adjusted annual pace in March, the lowest such rate… Read More ›

Home Building Employment Across States and Congressional Districts

A new NAHB study presents the most recent and comprehensive estimates of home building employment, including self-employed workers, by state and congressional district. NAHB Economics estimates that out of 10.3 million people working in construction in 2017, more than 4 million people worked in residential construction, accounting for 2.6% of the US employed civilian labor force. Despite steady job gains… Read More ›

Builder Confidence Edges Higher in April

Builder confidence in the market for newly-built single-family homes rose one point to 63 in April, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Sentiment levels have held in the low 60s for the past three months. Builders report solid demand for new single-family homes but are also grappling with affordability concerns… Read More ›

Single-Family Permit Decline in February

Over the first two months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 116,189. On a year-over-year basis, this is a 6.2% decline over the February 2018 level of 123,871. Year-to-date ending in February, single-family permits reported growth only in the Northeast region of the country. The South, Midwest, and the West regions declined by… Read More ›

Bedrooms, Kitchens Consume Copious Space in New Homes

In the average new home, 28.0 percent of the finished floor space is allocated to bedrooms and 11.2 percent to the kitchen area, according to a recent NAHB study.  The study is based on special questions appended to the November 2018 survey for the NAHB/Wells Fargo Housing Market Index.  The questions covered 13 specific types of areas or rooms, plus… Read More ›

New Home Sales Post February Gain

Contracts for new, single-family home sales increased almost 5% to a 667,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. This gain came despite an upward revision for the January data. However, the previously reported December data was revised down significantly to a 588,000 rate. The months’ supply number improved to 6.1, which indicates the… Read More ›

Housing Starts Fall in February

Total housing starts posted a 8.7 percent decrease in February (1.162 million units) compared to a upwardly revised January estimate of 1.273 million units according to the joint data release from the Census Bureau and HUD. Relative to February 2018, total starts are 9.9 percent below the annual pace of 1.29 million units. The rate of single-family starts posted a… Read More ›

Fed Adopts A More Dovish Stance

The Federal Open Market Committee (FOMC), the Fed’s monetary policymaking body, held the federal funds rate steady at a top rate of 2.5% at the conclusion of its March meeting. This was no surprise for financial markets, as this approach had been telegraphed by the Fed in January. However, the Fed communicated two other elements that indicate that the central… Read More ›