Eye On Housing
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October Residential Construction Spending Up Again Thanks to Multifamily and Improvements Activity
Residential construction spending increased for the second month in a row in October thanks again to spending for multifamily construction and improvements. The U.S. Census Bureau released October construction spending data today. Total nominal construction spending was at a seasonally adjusted annual rate (SAAR) of $802.3 billion, up 0.7% from the revised August estimate of $797.1 billion (essentially unchanged on… Read More ›
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Energy Prices Continue to Rise While Rents Lag General Inflation
The Bureau of Labor Statistics (BLS) released October Consumer Price Index (CPI) numbers today. The CPI for All Urban Consumers rose 0.2% in October, up from 0.1% in September. On a year-over-year basis the index was up 1.2%. Most of the increase came from higher energy prices, with the CPI for energy rising 2.6%, its fourth monthly increase following three… Read More ›
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Energy Costs Push Residential Building Materials Prices Up
Higher energy prices are the primary force behind increases in building materials prices. The Bureau of Labor Statistics (BLS) released October Producer Price Index (PPI) numbers today. The PPI for finished goods rose 0.4% from September—the same as it rose in September and August—and was up 4.3% on a year-over-year basis. Most of the October increase came from higher energy… Read More ›
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Good News-Bad News: Rental Vacancy Down As Homeownership Rate Slips
The Census Bureau released its third quarter Housing Vacancy Survey today, providing mixed news on the rental and homeownership front. In the good news column, national rental vacancy rates fell a bit to 10.3%, down from 11.1% a year earlier. However, since first quarter 2008, the measure has only been below 10% one time (third quarter 2008). In the neutral… Read More ›
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September Residential Spending Up 1.8%, But Single-Family Spending Down 2.6%
Residential construction spending showed some life in September, but it was all in multifamily construction and improvements spending. The U.S. Census Bureau released September construction spending data today. Total nominal construction spending was at a seasonally adjusted annual rate (SAAR) of $801.7 billion, up 0.5% from the revised August estimate of $797.5 billion, and 10.4% below the year earlier reading… Read More ›
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Inflation Remains Tame, Rents Flat From a Year Ago
The Bureau of Labor Statistics (BLS) released August Consumer Price Index (CPI) numbers today. The CPI for All Urban Consumers rose 0.3% in August, matching July’s increase. On a year-over-year basis the index was up 1.1%. Most of the increase came from higher energy prices, with the CPI for energy rising 2.3%, its second monthly increase following three months of… Read More ›
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Producer Price Index Up Modestly, Larger Increase in Building Materials Prices
The Bureau of Labor Statistics (BLS) released August Producer Price Index (PPI) numbers today. The PPI for finished goods rose 0.4% from July, which had risen 0.2%. On a year-over-year basis the index was up a moderate 0.9%. August’s increase was tame in the context of a measure that can have large monthly fluctuations—having risen 0.8% in March and 1.3%… Read More ›
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Total Construction Spending Down 1% in July, Residential Down 2.5%
The U.S. Census Bureau announced today that total nominal construction spending during July was at a seasonally adjusted annual rate of $805.2 billion, down 1.0% from the revised June estimate of $813.1 billion, and 10.7% below the year earlier reading of $901.2 billion. During the first seven months of this year on a not seasonally adjusted basis, total construction spending… Read More ›