Tag Archive for ‘home building’

Builder Confidence Remains Solid in October

Builder confidence in the market for newly constructed single-family homes remained on firm ground in October, declining two points to a level of 63 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite the decline, the HMI now stands at its second-highest level in 2016, a sign that the housing recovery continues to make solid progress. However,… Read More ›

Data Imply Most Homes Last More than a Century

Of the 132.42 million homes that existed in the U.S. in 2011, 98.8 percent (130.85 million) were still there two years later, according to a report published by the Department of Housing and Urban Development (HUD) in 2016. The report is called Components of Inventory Change: 2011-2013, and is based on the American Housing Survey (AHS).  The AHS, funded by HUD and conducted in… Read More ›

Fed Report Shows Strong Consumer Credit Growth

Consumer credit outstanding expanded by a seasonally adjusted annual rate of 8.5% over the month of August 2016, 2.6 percentage points faster than its growth rate in July, 5.9%. According to the report, released by the Federal Reserve Board, there is now $3.69 trillion in outstanding consumer credit. Growth in revolving credit, which is largely composed of credit card debt, contributed to… Read More ›

New Homes with a Community Association

NAHB tabulations of data from the Census Bureau’s Survey of Construction (SOC) show 59 percent of new homes started in 2015 were built within a community with a homeowner’s or community association. The Census Bureau defines a community or homeowner’s association as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions; these… Read More ›

Construction Job Openings Decline in August

The count of unfilled jobs in the overall construction sector fell in August, as residential construction employment hiring accelerated in August and September. 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) fell to 184,000 in August, after establishing a cycle high of 225,000 in July (post-data revisions). The July estimate represents… Read More ›

Housing Share of GDP: Housing Services Offsets Slight RFI Decline

With the release of the final estimates of second quarter 2016 GDP growth (revised up three-tenths to a 1.4% growth rate), housing’s share of gross domestic product (GDP) held steady at 15.7%. The home building and remodeling component—residential fixed investment—as a share of GDP declined slightly to 3.5%. Housing-related activities contribute to GDP in two basic ways. The first is… Read More ›

Pending Sales Decline

The Pending Home Sales Index decreased 2.4% in August, declining for the third time in four months, and falling 0.2% below its level for the same month a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 108.5 in August from a downwardly revised… Read More ›

New Home Sales: Solid August Follows Hot July

Sales of newly-built, single-family homes fell 7.6% on a monthly basis in August to a 609,000 seasonally adjusted annual rate according to estimates from the Census Bureau and HUD. However, the monthly change masks the fact that the August pace of new home sales was the second strongest since the end of the Great Recession. New home sales for August… Read More ›

Home Equity Growth Even as Homeownership Declines

According to the Federal Reserve Board’s second quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $22.290 trillion in the second quarter of 2016, $1.388 trillion higher than its level in the second quarter of 2015, $20.902 trillion. At the same time, home mortgage debt… Read More ›