Tag Archive for ‘remodeling’

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 ›

New Study Finds Price Premium for Solar Homes

A study conducted by a team of researchers, led by the U.S. Department of Energy’s Berkeley Laboratory, found that homebuyers are willing to pay more for homes that have installed solar photovoltaic (PV) energy systems. The research (Selling into the Sun: Price Premium Analysis of a Multi-State Dataset of Solar Homes) estimates a price premium of approximately $4 per watt of PV installed…. Read More ›

Single-Family Construction Spending Increases 12.3% for the Year

Total private residential spending increased from the revised November estimate to a seasonally adjusted annual rate of $349.6 billion. The December month-over-month increase of 0.3% was driven by a large increase in the single-family component of private residential construction. Single-family spending increased 1.2% over the revised November estimate while multifamily spending increased 0.3%. Over the same period private construction spending… Read More ›