Tag Archive for ‘housing’

Brexit and U.S. Housing: Possible Impacts

The most important economic news of last week concerned the United Kingdom referendum, which supported a departure of the U.K. from the European Union (Brexit). This political action has caused stock market declines and a fair amount of concern about the health of the global economy. How does housing and home building fit into this set of impacts? I think it… Read More ›

What Building 1,000 Homes Means to the U.S. Economy

According to NAHB’s National Impact of Home Building model, building 1,000 average single-family homes generates 2,975 jobs and $111.0 million in taxes and fees for all levels of government.  Similarly, building 1,000 average rental apartments generates 1,133 jobs and $42.4 million in taxes. The jobs are measured in full-time equivalents (enough work to keep one worker employed full-time for a… Read More ›

Single-Family Starts Flat in May

The May pace of single-family housing starts was effectively flat relative to April after downward revisions for prior months, standing at a seasonally adjusted annual rate of 764,000. However, according to estimates from the Census Bureau and the Department of Housing and Urban Development, the May rate marks a 10% gain in the pace of single-family construction on a year-over-year basis. Yesterday’s increase in the NAHB/Wells… Read More ›

Builder Confidence Rises in June

After holding steady for the past four months, builder confidence in the market for newly constructed single-family homes rose two points in June to a level of 60 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This marks the highest reading since January 2016. Derived from a monthly survey that NAHB has been conducting for 30… Read More ›

Eye on the Economy: Labor Market Data Pauses the Fed

***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis. A surprisingly weak labor market report clearly influenced the Federal Reserve’s decision to keep interest rates steady this week. The Fed noted that jobs gains have slowed and business investment has been soft. Housing, however, remains a bright spot as the economy picks up speed entering the… Read More ›

Independent Mortgage Companies Account for Most Home Purchase Mortgage Lending

In recent years, housing analysts have reported on the expansion in mortgage lending activity by nonbank financial institutions. Given recent activity, regulatory officials have expressed their interest in the lending activities at nonbank financial institutions. Nonbank consumer lenders can include pools such as hedge funds and they also include specialty finance companies such as auto finance companies. Another nonbank lending… Read More ›

Home and Multifamily Residential Debt Expand

According to the Federal Reserve Board’s first quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $22.524 trillion in the first quarter of 2016, $1.140 trillion higher than its level in the first quarter of 2015, $21.113 trillion. At the same time, home mortgage debt… Read More ›

Declines for Residential Construction Employment as Job Openings Persist

The count of unfilled jobs in the overall construction sector remained elevated in April after a post-Great Recession high in March. However, the count of total jobs in the residential construction sector has declined for two straight months. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) fell to 200,000 in April,… Read More ›

Consumer Credit Outstanding Grows on Auto, Student Loans

Consumer credit outstanding grew by a seasonally adjusted annual rate of 4.5%, $161.0 billion, in the month of April 2016, 5.1 percentage points slower than the 9.6% rate of growth recorded in March. Consumer credit outstanding now totals $3.602 trillion. According to the Federal Reserve Board’s Consumer Credit Report, the increase in total consumer credit outstanding partly reflected an expansion in the… Read More ›

New House Price Data Show Why Costs Are a Problem

New data released by the U.S. Census Bureau and the Department of Housing and Urban Development provide strong evidence that the costs of producing new housing are making it difficult to impossible to build homes for a significant part of the U.S. housing market. At the beginning of June, the Census Bureau traditionally releases data about the Characteristics of New… Read More ›