Tag Archive for ‘remodeling’

Retreat

Both the University of Michigan Index of Consumer Sentiment and the Conference Board Consumer Confidence Index declined in February after soaring to cyclical highs in January. The Index of Consumer Sentiment Index decreased to 95.4 in February from 98.1 in January, but was up from 81.6 during February 2014. The Consumer Confidence Index decreased to 96.4 in February from 103.8… Read More ›

Pending Sales Resume Upward Trend

The Pending Home Sales increased 1.7% in January, and was up 8.4% from the same period a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 104.2 in January, up from an upwardly revised  102.5 in December. The PHSI increased year-over-year for the fifth… Read More ›

Eye on the Economy: A Slow Start for 2015

Housing and residential construction have gotten off to a slow start at the beginning of the year. January data have been disappointing, although current indicators continue to suggest home building will grow in the year ahead. In particular, solid job growth and historically low mortgage rates should help unleash growing pent-up demand and keep the housing market moving forward. Home… Read More ›

Existing Sales Disappoint

Existing home sales decreased 4.9% in January, and the share of sales for first-time buyers continued to disappoint. The National Association of Realtors (NAR) reported January 2015 total existing home sales at a seasonally adjusted rate of 4.82 million units combined for single-family homes, townhomes, condominiums and co-ops, down from a revised 5.07 million units in December. January existing sales… Read More ›

Producer Prices in January – Gas Down, Wood Products Sideways, Gypsum Up

The Bureau of Labor Statistics (BLS) released the Producer Price Indexes (PPI) for January. Inflation in prices received by producers (prior to sales to consumers) declined 0.8% in January from December driven by a 24.0% decline in the price index for gasoline. Excluding food and energy, prices for goods declined 0.2%. Prices for services declined 0.2% in January. Among wood… Read More ›

Updates to the Snapshot of Local HBA Economic and Housing Statistics

NAHB recently updated the on-line tool that provides economic and housing statistics for all local associations of the federation. The tool now aggregates county-level data from the latest American Community Survey (ACS) and reflects HBA jurisdictions as of the annual NAHB Board of Directors Meeting. The changes were rolled out at the International Builders’ Show. Participating EOs indicated that the… Read More ›

Use of Depreciation Deductions in Real Estate and Construction

Examination of IRS data demonstrates the importance of various depreciation deductions for the construction and real estate sectors. These rules include the Section 179 small business expensing option, bonus depreciation, and normal tax depreciation. The data also illustrate what classes of property are most common, including the 5-year class for construction equipment and apartment property. This information is useful for the… Read More ›

Construction Immigrants Highly Concentrated in Some States and Trades

New NAHB research shows that while foreign-born workers represent a substantial component of the US construction labor force, accounting for almost 23 percent, their share is even higher in construction trades, reaching 28 percent. Concentration of immigrants is particularly high in some of the trades needed to build a home, like carpenters, painters, drywall/ceiling tile installers, brick masons, and construction… Read More ›

Construction Labor Market: Quits Jump, Hiring and Job Openings Rise

The number of open, unfilled construction sector positions increased slightly in December. The construction labor market was characterized by change at the end of 2014 as hiring increased along with a large number of quits by workers. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs for December (on a seasonally… Read More ›

The Employment Situation in January – January Revisions, June Decisions

January is annual revisions month so the employment report is a little more complicated than usual, but a strong report nonetheless. The Bureau of Labor Statistics (BLS) reported that payroll employment expanded by 257 thousand in January. Job gains in November and December were revised upward by a total of 147 thousand. The revisions to the establishment survey include late reporters… Read More ›