Tag Archive for ‘housing’

Permits Grow Across Most States, Hurricane Effect Fading

Over the eleven months ending in November 2017, the total number of single-family permits issued nationwide reached 761,229. This is 10.2% ahead of its level over the first eleven months of 2016, 690,836. The results from the SOC are similar, single-family permits over the first eleven months of 2017, 761,100 are 10.3% ahead of their level over the same period… Read More ›

Single-Family Starts Pull Back in December

Total housing starts declined in December after strong readings for prior months due to weather-related delay effects in the fall. Total starts decreased 8% to a 1.19 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Nonetheless, over the course of 2017 single-family starts posted a strong year, increasing 8.5% compared to 2016 to… Read More ›

Mortgages Rates Rise in 2017 But Remain Low

Information provided by the Federal Housing Financing Agency (FHFA) indicates that mortgage rates on purchases of newly built homes rose 7 basis points in November to 4.00 percent. At this level, rates remain below the 4.18 cycle peak level recorded in February. Meanwhile, a more commonly used rate reported by Freddie Mac indicates that mortgage rates rose by 2 basis… Read More ›

Builder Confidence Remains Strong as New Year Starts

Builder confidence in the market for newly-built single-family homes dropped two points to a level of 72 in January on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after reaching an 18-year high in December 2017. Builders confidence remained strong given changes to the tax code will promote the small business sector and boost broader economic growth. Nonetheless, home… Read More ›

Core Inflation Remains Steady

Consumer prices, measured by the Bureau of Labor Statistics’ (BLS) Consumer Price Index – Urban Consumer (CPI), rose by 2.1 percent on an unadjusted basis over the 12 months of 2017, and has broadly accelerated from the 1.63 percent reading in June 2017. Energy prices contributed to the increase in the headline measure of consumer inflation, climbing 6.9 percent over… Read More ›

Employment Rose in Most States

According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 32 states and decreased in 17 states and the District of Columbia in November 2017 compared to October 2017 while the level of employment in Maine remained unchanged. Year-over-year, 47 states increased employment while four states lost payroll employment during this time. As a result payroll employment nationwide… Read More ›

The Number of Hispanic Construction Business Owners Rises in Every Age Group

The number of business owners in the construction industry (firms involved in the construction of buildings, heavy/civil engineering construction, or specialty trade contractors) declined 8% from 2.3 million in 2007 to 2.1 million in 2012, according to the U.S. Census Bureau’s Survey of Business Owners (collected in years ending in ‘2’ and ‘7’). An earlier post reported that the number… Read More ›

New Home Sales Hit Post-Recession High in November

Contracts for new, single-family home sales expanded by 17.5% in November to a 733,000 seasonally adjusted annual rate, according to estimates from the joint release of HUD and the Census Bureau. The particularly strong growth rate was due to a large downward revision for the October estimate (624,000, originally 685,000). However, the November sales rate was the fastest pace since July 2007. The expansion is… Read More ›

Economy Grows in Q3, Exceeding Potential

The Bureau of Economic Analysis (BEA) reported that the economy, as measured by growth in real gross domestic product (GDP), rose by 3.2 percent in the third quarter of 2017. The third estimate of third quarter 2017 GDP growth is slightly less than the 3.3 percent growth rate recorded in the second estimate, but faster than the “advance”, or initial,… Read More ›