Tag Archive for ‘home building’

Existing Sales Hit Inventory Wall

Existing home sales, as reported by the National Association of Realtors (NAR), reversed a January gain and decreased 3.7% in February. At the current sales rate, the February unsold inventory represents a 3.8-month supply, compared to a 3.5-month supply in January. February existing sales were up 5.4% from the same month a year ago, and reached a seasonally adjusted rate… Read More ›

Job Growth Continues for Builders and Remodelers

The count of unfilled jobs in the construction sector was below trend for the second consecutive month, as hiring has accelerated in the industry. 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) came in at 147,000 in January. The cycle high was 238,000 set in July of last… Read More ›

Solid Gain for Starts in February

Total housing starts posted an increase in February, with a solid gain for single-family construction and ongoing elevated levels of multifamily development. Total starts were up 3%, rising to a 1.288 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Single-family starts recorded a monthly increase of 6.5% in February, rising to an 872,000 annual rate,… Read More ›

Builder Confidence Reaches Cycle High

Builder confidence in the market for newly-built single-family homes jumped six points to a level of 71 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest reading since June 2005. While builders are clearly confident, we expect some moderation in the index moving forward. Builders continue to face a number of challenges, including… Read More ›

Home Equity Reaches A New Peak

According to the Federal Reserve Board’s fourth 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 $23.102 trillion in the fourth quarter of 2016, $1.535 trillion higher than its level in the fourth quarter of 2015. Home mortgage debt outstanding, $9.754 trillion in… Read More ›

The Average Builder Uses 10 Different Green Products and Practices

On average, single-family builders use 10.2 different green products or practices, and 22 percent always or almost always have their homes certified to a green standard, according to a recent NAHB survey. The survey consisted of special questions on the January survey for the NAHB/Wells Fargo Housing Market Index. A total of 337 single-family builders responded to these questions, one… Read More ›

Non-Mortgage Consumer Debt Grows But at a Slower Rate

The total amount of consumer credit outstanding rose in January 2017 reflecting growth in non-revolving credit, auto loans and student loans. Meanwhile, the outstanding amount of revolving credit, largely composed of credit cards, shrank. According to the Federal Reserve Board’s Consumer Credit release, the total outstanding amount of consumer credit climbed by a seasonally adjusted annual rate of 2.8 percent in… Read More ›

Top Ten Publicly-Traded Builder Share Jumps in 2016

The 2016 top ten publicly-traded builders captured a 27.4% share of new single-family home closings, up from 27.1% in 2015. The 27.4% share in 2016 is out of the 559,000 new home sales reported by the Census Bureau. However, this count represents a smaller share of the total single-family market when not-for-sale, custom home building is included. 2016 Top 10… Read More ›

Mortgage Rates in January

Results from a survey administered by the Federal Housing Finance Agency (FHFA) indicate that mortgage rates rose in January 2017*. Over the month, contract rates on mortgages used to purchase single-family newly constructed homes increased by 24 basis points to 4.02 percent. Although the monthly change reported by FHFA contrasted with a report by Freddie Mac, the results of the… Read More ›