Tag Archive for ‘Housing Recovery’

Property Tax Revenue Grows Nearly Four Percent

NAHB analysis of the Census Bureau’s quarterly tax data shows that $519 billion in taxes were paid by property owners over the four quarters ending in Q3 2015. This represents a $19 billion—or 3.9%—increase over the previous trailing four quarters, the largest annual increase since early 2010. Property taxes accounted for 39.1% the largest share, of state and local tax… Read More ›

Housing Prices – Slowing to Sustainable Growth

The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller recently released their respective home price indices for April. House prices have been recovering since reaching the bottom of the downturn in 2012. Both the new and existing single-family homes’ median sale prices are presented along with the home price index. All three indicators tell a similar story of rapid… Read More ›

Housing Recovery – Prices and Production

The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller recently released the Home Price Index (HPI) for March. The price index reported by the Federal Housing Finance Agency (FHFA) decelerated in March, slowing to an annualized growth rate of 4.2% from 7.8% in February. Monthly growth rates have been volatile but have trended down since the recent peak… Read More ›

Consumer Confidence Zigzags in 2015

Consumer sentiment and consumer confidence are two indexes showing consumers’ perceptions of current business, income and employment conditions, as well as their expectations for the future’s economy. They are both highly (inversely) correlated with the unemployment rate. Based on the data from the past three decades, the Consumer Confidence Index and the Consumer Sentiment Index increase when the unemployment rate… Read More ›

Consumer Confidence and Economic Cycles

Consumer sentiment and consumer confidence are two indexes showing consumers’ perceptions of current business, income and employment conditions, as well as their expectations for the near future’s economy.   Figure 1 shows both the University of Michigan Index of Consumer Sentiment and the Conference Board Consumer Confidence Index are highly inversely correlated with the unemployment rate. High unemployment drives down… Read More ›

House Price Appreciation Moderates

The Federal Housing Finance Agency (FHFA) recently released the House Price Index (HPI) data for February, 2015. Figure 1 shows the House Price Index (HPI) data from January 1991 to February 2015. The annual growth rate is also presented in Figure 1. House price appreciation has been volatile but averaged approximately 5% from 1991 to 2003 prior to the housing… Read More ›

House Prices Inch Toward Recovery

Recently released data by Standard and Poor’s (S&P) and Case-Shiller indicates that its measure of house prices, the House Price Index – National, rose by 5.1% on a year-over-year seasonally adjusted basis (5.1% on a not seasonally adjusted basis). This is the 28th consecutive month of year-over-year increases in the house price index. Over this period of more than two… Read More ›

Economists Agree That Housing Recovery Likely To Continue

Yesterday, NAHB hosted its bi-annual Construction Forecast Webinar (CFW). The CFW featured three industry experts. NAHB Chief Economist David Crowe was joined by Maury Harris, Chief US Economist at UBS, and NAHB Senior Economist Robert Denk to present views on the outlook for the US economy and the housing market more specifically. Here are the major points from the presentation:… Read More ›

Homes Under Construction Rises for 28th Straight Month

Although housing starts may have declined slightly in December, they remain at roughly (a seasonally adjusted annual rate of) 1 million units.  Not only is this relatively strong compared to the recent history, it means that new homes are feeding into the beginning of the production pipeline faster than they’re leaving at the other end (as completions have fluctuated within… Read More ›