Tag Archive for ‘housing’

Construction Jobs Continue Slow Growth per October JOLTS Data

Job Openings and Labor Turnover Survey (JOLTS) data for October from the Bureau of Labor Statistics reveal that the national economy, while sluggish, continues to trend better with respect to job openings. Total job openings for all non-farm sectors were essentially unchanged at 3.3 million. The job openings rate of 2.4% for October remains at levels last consistently experienced in 2008. The… Read More ›

Declining Multifamily Vacancy Rates Point to Future Growth

Data from the Survey of Market Absorption (SOMA), produced by the Census Bureau and the Department of Housing and Urban Development, reveal limited weakness in the multifamily sector for the first half of 2011. However, declining multifamily vacancy rates are a hopeful sign for future multifamily market expansion, which is consistent with improving responses reported in NAHB multifamily surveys. The SOMA tracks completions and… Read More ›

Flawed Appraisals Preventing Home Sales

One out of three builders are reporting losing signed sales contracts during the preceding six months because appraisals on their homes are less than the contract sales price, according to a recent nationwide survey conducted by the National Association of Home Builders (NAHB).  It is too common, due to faulty appraisal practices, for brand new homes with appliances and interior… Read More ›

Twenty Metros Join List of Improving Housing Markets Index in December

The number of improving housing markets continued to expand for a fourth consecutive month in December, rising from 30 to 41 on the latest National Association of Home Builders/First American Improving Markets Index (IMI), released today. The December list featured 20 new additions, including several major markets such as Washington, D.C.; San Jose, Calif.; and Toledo, Ohio. Meanwhile, nine smaller… Read More ›

The Geography of Home Size and Occupancy

A new research paper from NAHB Economics examines the geography of the relationship between home size and the number of people residing in a given home.  It is well-known that home sizes, on average, increase as one moves from the central city to the suburbs. As a result, a stereotype exists of that people living in larger homes in the suburbs are… Read More ›

Fed Beige Book: More Slow Growth

Aside from weaker results from the St. Louis District, economic activity increased at a “slow to moderate pace” across the nation according to the latest release of the Federal Reserve’s Beige Book. The majority of Fed Districts reported modest gains in consumer spending, both auto and non-auto sales, and most had positive expectations for holiday sales. Tourism activity appeared to… Read More ›

Pending Home Sales Bounced Back Strongly in October

Pending homes sales bounced back strongly in October, more than recovering the ground lost through declines over the past three months. The National Association of Realtors (NAR) announced a 10.4% increase in the Pending Home Sales Index (PHSI) in October, rising to 93.3.  This follows a decrease of 4.6% in September and modest declines in July (1.2%) and August (1.3%)…. Read More ›

Existing Home Sales Held Back By Increasing Contract Cancellations

Existing home sales continue to drift sideways, with a high rate of contract failures holding back a recovery. The National Association of Realtors reported a modest, 1.4% increase in existing home sales in October, creeping up to a seasonally adjusted annual rate of 4.97 million units. The increase recovers only part of the 3% decline in September. Although existing home… Read More ›