Tag Archive for ‘housing’

Single-Family Built-for-Rent Market Share Closer to Historical Levels

Single-family starts built-for-rent held steady at 6,000 starts for the third quarter of 2014. While the market share of built-for-rent single-family homes remains somewhat elevated, the share and count of starts are off post-recession highs and will approach historical norms as the housing market continues to recover. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis,… Read More ›

Multifamily Market Sentiment Off Recent Peak

NAHB’s Multifamily Production Index (MPI) reached 54 in the third quarter, four points below the previous quarter’s reading. This is the 11th consecutive quarter with a reading of 50 or above. The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its… Read More ›

Existing Momentum

Existing home sales increased in October for the second consecutive month, and exceeded year-over-year levels for the first time in a year, despite no improvement among first-time buyers. Existing home sales increased 1.5% in October, and were 2.5% above the same period a year ago. The National Association of Realtors (NAR) reported October 2014 total existing home sales at a… Read More ›

Energy Prices Continue to Fall

The Bureau of Labor Statistics (BLS) reported that in October that the consumer price index was unchanged on a seasonally adjusted month-over-month basis. Over the past twelve months, prices on expenditures made by urban consumers increased 1.7% before seasonal adjustments. The relatively modest growth over the last twelve months in the broader measure of consumer prices masks greater volatility in… Read More ›

Multifamily Built-for-Rent Share Remains High

An elevated market share for rental multifamily homes is holding typical new apartment size below levels seen during the housing boom. However, as multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. The recent pattern of change in the size of new multifamily units stands in contrast to the general rise in the size… Read More ›

FOMC Minutes – A “Considerable Time”

The Federal Reserve released the minutes from the Federal Open Market Committee (FOMC) meeting held in October, providing a more in-depth view of their deliberations than can be gleaned from the post-meeting statement. The minutes make clear the widespread agreement among participants that the asset purchase program had achieved its stated goal of substantial improvement in the outlook for the… Read More ›

Single-Family Home Size Leveling Off as Market Recovers

The average size of newly built single-family homes has declined for two consecutive quarters as the overall housing market recovers. Despite the recent leveling, current new home sizes reflect post-recession increases due to an atypical mix of home buyers. As more first-time buyers return to the market, typical home size will continue to post slight quarterly declines. According to third quarter 2014 data from the Census Quarterly Starts and… Read More ›

Housing Construction Continues Upward Trend

Single-family home construction increased 4.2% in October to top off at 696,000 on an annualized basis. This rate is the second highest since early 2008. Single-family permits also rose 1.4% to 640,000 and were also the highest since early 2008 except for November of last year. Overall starts were down 2.8% but remaining just over one million and driven down… Read More ›

Inflation at the Producer Level in October – Wood Products Soften, Gypsum Rises

The Bureau of Labor Statistics (BLS) released the Producer Price Indexes (PPI) for October. Inflation in prices received by producers (prior to sales to consumers) increased 0.2% in October after a 0.1% decline in September and no change in August. Over the 12 months ending in October prices were up 1.5%. The October increase was fueled by prices for services… Read More ›

Builders Continue Optimism

The November NAHB/Wells Fargo Housing Market Index rose four points to a level of 58 as builders continue to see promise in home selling. This marks the fifth consecutive month for the index to remain above the tipping point of 50 after a slow beginning to the year. All three components rose with current sales rising five points to 62,… Read More ›