Eye On Housing
Total housing starts increased slightly in March, led by multifamily construction strength. Starts increased 1.9% to a 1.32 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. However, the pace of single-family starts declined in March, falling 3.7% to an 867,000 seasonally adjusted annual rate, due to lingering weather effects in some parts… Read More ›
Builder confidence in the market for newly-built single-family homes edged down one point to a level of 69 in April on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) but remains on firm ground. Strong demand for housing is keeping builders optimistic about future market conditions. However, builders are facing supply-side constraints, such as a lack of… Read More ›
With the release of the final estimate of fourth quarter 2017 GDP growth (a 2.5% annual growth rate), housing’s share of gross domestic product (GDP) rose slightly to 15.4%. The home building and remodeling component – residential fixed investment – also increased slightly, rising to 3.5%. Housing-related activities contribute to GDP in two basic ways. The first is through residential fixed investment (RFI). RFI is effectively the measure… Read More ›
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate of $533.4 billion in February, a gain of 0.1% from the upwardly revised estimate of January. Over the past 12 months, total private residential construction spending was up 5.5%. The monthly gains are largely attributed to the large increase… Read More ›
Contracts for new, single-family home sales were effectively flat in February, inching down 0.6% to a 618,000 seasonally adjusted annual rate, according to estimates from the joint release of HUD and the Census Bureau. Matching solid readings of the NAHB/Wells Fargo HMI measure of home builder confidence, new home sales data for prior months were revised up. For example, the initial January estimate… Read More ›
Total housing starts declined in February, led by a reversion to trend for multifamily development. Starts fell 7% to a 1.24 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The pace of single-family starts expanded in February, rising 2.9% to a 902,000 seasonally adjusted annual rate. The three-month moving average for single-family… Read More ›
Builder confidence in the market for newly-built single-family homes edged down one point to a level of 70 in March from a downwardly revised February reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the fourth consecutive month at or above a level of 70 for the HMI, an indication of strong single-family housing… Read More ›
The volume of residential construction loans increased by 1.6% during the fourth quarter of 2017, marking 19 consecutive quarters of growth. Furthermore, stabilization for the year-over-year growth rate is an indicator of continued, modest growth for single-family construction. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting factor for home building growth, but easing credit conditions and a growing loan base have helped expand residential construction… Read More ›
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $529.9 billion in January 2018, up by 0.3% after a decline of 0.5% in December 2017. Compared to the same month a year ago, total private residential spending increased 4.2%. The monthly gains are largely attributed to… Read More ›
According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, sales of new single-family homes fell by 7.8 percent over the month of January. The decrease in sales partly reflected an upward revision in the December estimate from 625,000 to 643,000. However, sales fell below the 600,000 level to 593,000. Despite the second consecutive decrease… Read More ›