Tag Archive for ‘housing’

Banks See Weaker Demand for Business and CRE Loans

The Federal Reserve Board’s Senior Loan Officer Opinion Survey showed that lending standards on commercial and industrial (C&I) loans eased over the first quarter of 2018. At the same time, lending standards on commercial real estate (CRE) loans tightened, but at a slower pace than last quarter. Importantly a net share of banks noted that demand for both C&I and… Read More ›

Core Inflation Slows in April

Following a decline in March, the Bureau of Labor Statistics reported that consumer prices rose by 0.2 percent over the month of April, largely reflecting energy and food prices as well as shelter prices. Excluding energy and food prices, “core” inflation decelerated from 0.2 percent to 0.1 percent as shelter prices, which represent the largest share of the consumer price… Read More ›

Rising Incomes Boost Housing Affordability in First Quarter of 2018

Strong wage growth more than offset an increase in mortgage interest rates to boost nationwide housing affordability in the first quarter of 2018, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 61.6 percent of new and existing homes sold between the beginning of January and end of March were affordable to families… Read More ›

Count of Unfilled Construction Jobs Near Cycle High

The count of unfilled jobs in the construction sector increased in March and approached the post-Great Recession high level. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs increased to 248,000 in March. The post-recession high count of open, unfilled construction jobs was 255,000 in July of last… Read More ›

For Remodelers, Labor Shortages Resume Aggravating Trend

Ninety-one percent of remodelers reported shortages of labor available to perform finished or rough carpentry work, and over 40 percent said these shortages were serious, in response to special questions on NAHB’s Remodeling Market Index (RMI) survey for the 3rd quarter of 2017. The RMI survey asked remodelers about availability of labor in 15 specific occupations that were either specifically recommended by Home Builders… Read More ›

House Search Takes Many Months, But Buyers Do Not Intend to Give Up

The Housing Trends Report (HTR) is a new research product created by NAHB’s Economics team to track prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets.  Results are based on national polls conducted by Morning Consult.  This is the fourth (and last) of a series of posts highlighting results for the first quarter of… Read More ›

Mortgage Rates Climb in April

According to the Federal Housing Finance Agency (FHFA), mortgage rates continue to rise and this is confirmed by data from Freddie Mac. The short end of the yield curve, which is most sensitive to monetary policy, has been the primary force behind the increase in mortgage rates. In recent years, short-term rates have put upward pressure on mortgage rates while… Read More ›

Only a Minority of Buyers Can Afford Majority of Homes For-Sale

The Housing Trends Report (HTR) is a new research product created by NAHB’s Economics team to track prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets.  Results are based on national polls conducted by Morning Consult.  This is the third in a series of posts highlighting results for the first quarter of 2018.  See… Read More ›

Fed Keeps Rate Steady: Higher Rates Expected

As was widely expected, the Federal Open Market Committee (“FOMC”), the monetary policy making body of the Federal Reserve, maintained the federal funds rate at a range of 1.50 to 1.75 percent following its meeting that convened on May 1-2, a rate it deems “accommodative”. Going forward, the FOMC expects that, with further gradual adjustments in the stance of monetary… Read More ›