Tag Archive for ‘housing’

Townhouse Construction Market Expansion

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction starts continued to outpace the rest of the single-family market during the second quarter of 2016. Over the last four quarters ending with the second quarter of 2016, townhouse starts totaled 98,000, a more than 25% gain over prior year total…. Read More ›

Multifamily Strength in July

The July pace of total housing starts increased 2.1% over the June rate, led by strength in the multifamily sector. However, year-to-date measures continue to be consistent with the NAHB forecast of growth for single-family construction this year, as well as a slight dip for apartment development compared to 2015 levels. According to estimates from the Census Bureau and the Department… Read More ›

Builder Confidence Rises in August

Builder confidence in the market for newly constructed single-family homes in August rose two points to 60 from a downwardly revised reading of 58 in July on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence remains solid in the aftermath of weak GDP reports that were offset by positive job growth in July. Historically low mortgage rates,… Read More ›

Rising Home Prices Affect Housing Affordability in the Second Quarter

Solid home price appreciation more than offset a modest reduction in mortgage interest rates to push housing affordability lower in the second quarter of 2016, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 62 percent of new and existing homes sold between the beginning of April and end of June were affordable to… Read More ›

The Number of Residential Construction Firms Owned by Minorities is on the Rise

The total number of residential construction firms in the country (single-family builders, multifamily builders, and residential remodelers) dropped to around 689,000 in 2012, 12% lower than in 2007, according to the U.S. Census Bureau’s Survey of Business Owners (collected only in years ending in ‘2’ and ‘7’). While the industry as a whole contracted during those five years, the share… Read More ›

Consumer Credit Grows

The Federal Reserve Board reported that consumer credit outstanding grew by a seasonally adjusted annual rate of 4.1% over the month of June 2016, 1.9 percentage points slower than its growth rate in May. Over the second quarter of 2016, consumer credit outstanding expanded by 5.3%, 0.5 percentage points less than the 5.8% rate of growth in the first quarter of 2016…. Read More ›

Nation Inches Closer to a Recovery

For the country as a whole, the NAHB/First American Leading Markets Index (LMI), released today, rose to .97 in the second quarter of 2016, .01 point higher than its upwardly revised level in the first quarter of 2016, .96, and .05 point higher than its level from one year ago, .92. The LMI is now .19 point above its low of… Read More ›

More Banks Tighten Credit Standards on MF Debt

Results from the most recent Senior Loan Officer Opinion Survey (SLOOS) indicate that lending standards on multifamily residential mortgages continue to show signs of tightening and the pace of tightening is growing. The Federal Reserve Board’s SLOOS asks senior loan officers at large banks their opinion on changes in the standards and terms on, and demand for, bank loans to… Read More ›

June Pending Home Sales Rise on Gains in the Northeast and the Midwest

According to the National Association of Realtors’ Pending Home Sales Index (PHSI), nationwide, signed contracts for existing homes inched up 0.2% over the month of June 2016. The PHSI is forward looking indicator for contracting closings (i.e. existing home sales). June marks the fourth monthly increase in the PHSI over the past five months. Over the year, the PHSI rose… Read More ›