Eye On Housing
The Pending Home Sales Index decreased 1.3% in April for a second consecutive monthly decline, and fell 3.3% below its level 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), decreased to 109.8 in April, down from a revised 111.3 in March. The PHSI decreased… Read More ›
NAHB recently released its latest projections of spending on improvements to owner-occupied housing by zip code. The projections show total spending on improvements, the number of owner-occupied homes, as well as average spending per improvement, in each of over 26,000 zip codes for calendar year 2017. The estimates are based on a model relating improvement spending to five key variables:… Read More ›
Existing home sales declined 2.3% in April as inventory fell year-over-year for the 23rd consecutive month, while the velocity of sales increased to the highest level since the National Association of Realtors (NAR) began tracking the monthly sales timeframe. At the current sales rate, the April unsold inventory represents a 4.2-month supply, up from the March 3.8-month supply, but down… Read More ›
Analysis of data from the most recent release of the American Housing Survey indicates that households with two generations and those with three generations tended to remodel more than households with only one generation. Within two-generation households, however, those that include a generation older than the household head were less likely to remodel, but tended to spend the most when… Read More ›
According to remodelers who answered special questions on NAHB’s Remodeling Market Index (RMI) survey for the 1st quarter of 2017, a simple “desire for better/newer amenities” once again ranked as the number one reason customers choose to remodel their homes. On a scale of 1 to 5 (where 1 indicates never or almost never, and 5 is very often), the… Read More ›
May is National Home Remodeling Month. For the month’s first related post, we report on the most common types of remodeling projects performed by NAHB Remodelers in 2016. The results come from a special question added to NAHB’s Remodeling Market Index (RMI) survey for the first quarter of 2017. The results show kitchens edging out baths for the top spot… Read More ›
The Pending Home Sales Index decreased 0.8% in March 2017, but remains 0.8% above its level 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), decreased to 111.4 in March, down from 112.3 in February. The PHSI increased in the South by 1.2%, but fell… Read More ›
Existing home sales, as reported by the National Association of Realtors (NAR), surged 4.4% in March to the highest pace in ten years. At the current sales rate, the March unsold inventory represents a 3.8-month supply, unchanged from February. March existing sales were up 5.9% from the same month a year ago, and reached a seasonally adjusted rate of 5.71… Read More ›
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 58 in the first quarter of 2017, up five points from the previous quarter. This reading is the highest since the fourth quarter of 2015 (Figure 1). A RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter)… Read More ›
The Pending Home Sales Index increased 5.5% in February 2017 to its highest level since April 2016, and the second highest since May 2006. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 112.3 in February, up from 106.4 in January and up 2.6% from the… Read More ›