David Logan

Building Materials Price Growth Plummets in 2023

According to the latest Producer Price Index report, growth in the average price level of inputs to residential construction less energy (i.e., building materials) fell from 15.0% in 2022 to 1.3% in 2023 (not seasonally adjusted). On a monthly basis, building materials prices rose 0.1% in December after increasing 0.1% in November (revised). Monthly price increases…

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Consumer Credit Outstanding Climbs as Credit Card Debt Surges

According to the Federal Reserve’s latest G.19 Consumer Credit report, total consumer credit outstanding totaled $5.00 trillion (seasonally adjusted) for the first time in November—a 5.7% monthly increase (seasonally adjusted annual rate). The increase reflected a 17.7% surge in revolving credit and a more modest 1.5% rise in nonrevolving credit (SAAR). The level of revolving…

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Property Tax Revenue Continues to Climb

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $129 billion in taxes were paid by property owners in the third quarter of 2023 (not seasonally adjusted).[1] In the four quarters ending Q3 2023, state and local governments collected $757 billion of property tax revenue—an 11.6% increase over Q3 2022. The year-over-year growth…

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Building Materials Prices Inch Higher in November 

According to the latest Producer Price Index report, the price level of inputs to residential construction less energy (i.e., building materials) increased 0.2% in November after declining 0.4% in October (revised, not seasonally adjusted).  The index has increased 0.8% (NSA), year-to-date, marking the smallest YTD gain through November since it fell 0.2% over the first 11…

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Consumer Credit Outstanding Edges Higher in October

According to the Federal Reserve’s latest G.19 Consumer Credit report, total consumer credit outstanding totaled $4.99 trillion (seasonally adjusted annual rate) in October, an increase of $5.1 billion over the month and $146.7 billion—or 3.0%–higher than October 2022. The monthly increase resulted from revolving and nonrevolving credit outstanding gaining 0.2% and 0.1%, respectively. The level of…

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