Tag Archive for ‘single-family housing’

National Delinquency Survey Points to a Falling Serious Delinquency Rate

According to the Mortgage Bankers Association, the delinquency rate for mortgage loans on one-to-four family residential properties was 6.8% on a not seasonally adjusted basis in the second quarter of 2013, up slightly (0.06 percentage point) from its level in the first quarter, but 0.6 percentage points lower than its level in the second quarter of 2012. The technical increase… Read More ›

Single-Family, Multifamily, Home Improvement Spending All Up

Total private residential construction spending increased to a seasonally adjusted annual rate of $328.6 billion in May 2013, the fastest pace of residential construction since October 2008. The reading is 1.2 percent above the positively revised April estimate and 22 percent higher since a year ago. All three components of residential construction spending registered gains. New multifamily construction spending showed… Read More ›

House Prices Move Higher

Nationally, house prices continued to rise in April, contributing to the overall recovery in U.S. house prices. According to the most recent release by the Federal Housing Finance Agency, U.S. house prices rose by 0.7% on a month-over-month seasonally adjusted basis in April. This is the fifteenth consecutive monthly increase for the House Price Index – Purchase Only. Since January… Read More ›

Homeownership Rate Inched Lower During the First Quarter

The homeownership rate declined slightly during the first quarter of 2013, falling to a seasonally adjusted reading of 65.2%. This marks the lowest reading since the end of 1995 and a 4.2 percentage point drop versus the peak observed in mid-2004. While the homeownership rate is somewhat lower than its 20-year historical average, the rate has not fallen as low… Read More ›

Newly Proposed Rules Could Raise Rates on Consumer Mortgages and Price Out Households

On balance, the residential housing market has been improving in recent months, but the pace of recovery is partly restrained by frictions in the mortgage market. Against this backdrop, U.S. regulators have proposed comprehensive new regulatory capital requirements for U.S. banking organizations.  These newly proposed rules will serve to implement Basel III, the most recent revision to international bank regulatory… Read More ›

Residential Construction Spending Surges on New Construction and Remodeling

Private residential construction spending jumped 2.8% on a month-to-month basis during September 2012. The preliminary estimates for July and August were revised higher as well, from previous prints of -0.1% and 0.9% to 1.3% and 1.2%, respectively. Nominal spending activity on private residential construction has expanded in 13 of the last 14 months, putting it nearly 21% above September 2011… Read More ›

Homebuilders Struggle to Add to Payrolls

Starts of new single-family homes have jumped approximately 26% since May 2011 (and more than 46% since bottoming out in early 2009). Unfortunately, the rebound in starts does not appear to have bolstered job creation within the residential construction sector as payrolls have inched 1% higher in the past year. The homebuilding industry as a whole, which includes building contractors… Read More ›

Townhouse Market Share Growing Off Recent Lows

When we last reported on townhouse construction (attached single-family housing), townhouses had reached a decade low in terms of share of the total single-family construction market. We expected this short-run decline to end and the share of construction for townhouses to rise to its historically increasing long-run trend. Census data from the fourth quarter of 2011 suggests that this is happening. While the… Read More ›

Private Residential Construction Spending Hits a Two-Year High

The Census Bureau reported that private residential construction spending activity increased 1.8% during January. The preliminary estimate for December was boosted higher to show a 1.5% gain, versus the originally reported increase of 0.8%. After falling in July 2010 to its lowest reading since mid-1995, spending on private residential construction projects has increased in each of the last six months—rising… Read More ›

Beige Book: Modest Growth Continues, but Some Optimism Emerges for Residential Real Estate

The latest issue  of the Federal Reserve’s Beige Book portrayed modest economic growth across all 12 Fed Districts. This particular theme of “modest” or “moderate” growth has been for most districts in each of the past several releases. Consumer spending, outside of some seasonal items hurt by low snowfall totals, remained solid during January and early February. Major winter tourist… Read More ›