Tag Archive for ‘housing’

Housing Share of GDP Climbs to 13-Year High

Housing will lead the economic recovery. Due to low mortgage interest rates, a renewed focus on the importance of home, and a lack of for-sale inventory, housing data has been a relative bright spot as the overall economy struggles to establish a rebound. Due to this broader weakness (GDP declined at a -32.9% rate for the second quarter) and gains… Read More ›

New Home Sales Jump in June

New single-family home sales jumped in June, as housing demand was supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs and exurbs. Census and HUD estimated new home sales in June at a 776,000 seasonally adjusted annual pace, a 14% gain over May and the strongest seasonally… Read More ›

Affordable Housing Credit Beneficiaries: 2020 Update

The affordable housing credit (the Low-Income Housing Tax Credit or LIHTC) plays a critical role in the housing sector by ensuring a supply of attainable rental housing. Created as part of the 1986 tax reform legislation, the LIHTC has been responsible for financing the development or preservation of more than 3.2 million rental homes. Moreover, the housing credit has been… Read More ›

Gains for Single-Family Permits, Starts in June

Single-family housing permits and starts were higher in June as housing demand and construction remains a bright spot for the overall economy. Demand is being supported by low interest rates and renewed focus on the importance of home amidst the virus crisis. Single-family starts in June were estimated by Census/HUD at an 831,000 seasonally adjusted annual rate, after an revised… Read More ›

Builder Confidence Rallies to Pre-Pandemic Level in July

In a strong signal that the housing market is ready to lead a post-COVID economic recovery, builder confidence in the market for newly-built single-family homes jumped 14 points to 72 in July, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI now stands at the solid pre-pandemic reading in March before the outbreak… Read More ›

New Home Sales Jump in May

New home sales jumped in May, as housing demand was supported by low interest rates, a renewed household focus on housing, and rising demand in lower-density markets. Census and HUD estimated new home sales in May at a 676,000 seasonally adjusted annual pace, a 17% gain over April. However, as we noted last month, the April data was downwardly revised… Read More ›

Gain for Single-Family Permits Points to Building Growth

Single-family housing starts were flat in May, albeit off an upwardly revised estimate for construction in April. Single-family starts in May were estimated by Census/HUD at a 675,000 seasonally adjusted annual rate, after an revised estimate of 674,000 for April. However, the turning point for the market was found in the permits data. Consistent with recent gains in the NAHB/Wells… Read More ›

AD&C Loan Volume Expands During a Tough Quarter

Reversing a quarterly decline during the final quarter of 2019, the volume of residential construction lending posted a slight gain during the first quarter of 2020. This was prompted by the strong start for home construction in the early months of the year. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased 2% after a 0.7%… Read More ›

Builder Confidence Surges in June

In a sign that housing stands poised to lead a post-pandemic economic recovery, builder confidence in the market for newly-built single-family homes jumped 21 points to 58 in June, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Any reading above 50 indicates a positive market. As the nation reopens, housing is well-positioned to lead… Read More ›