Eye On Housing
Author Archives
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Mortgage Rates Flatten in July
The Federal Housing Finance Agency reported that mortgage rates on purchases of newly built homes (MIRS) rose by one basis points over the month of July 2018 to 4.60 percent, marking the ninth consecutive monthly increase. The FHFA contract rate for Newly-built homes, also inched up 3 basis points to 4.62 percent in July. However, information compiled by Freddie Mac… Read More ›
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Decline In New Home Sales In July
Contracts for new, single-family home sales declined in July, falling 1.7% to a 627,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The decline came off an upwardly revised June estimate, which was increased from an initial reading of 631,000 to a new estimate of 638,000. The July estimate was the lowest annual pace since… Read More ›
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West Continue to Lead Job Gains in July
Over the year, total nonfarm employment in July increased by 2.4 million jobs which is a 1.6% increase compared to July 2017. During this time, total nonfarm employment in the Western region increased by 2.3% and the Southern region increased by 2.0%. The Midwest recorded the lowest gains at 1.3% during this time. In comparison, year-over-year ending in June, 2.37… Read More ›
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FHA-Backed Loans Accounted For The Majority Of All Non-Conventional Financing In 2017
NAHB analysis of the 2017 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing in 2017 accounted for less than a third of the market, at 30.8%. The reliance on non-conventional forms of financing varied across the United States, with its share at 35.4% in the South Atlantic and West South Central divisions but… Read More ›
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West Leads Single-family Residential Permits Growth, Northeast, Midwest Declines
Over the first six months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 444,600. On a year-over-year basis, this is a 6.3% increase over the June 2017 level of 418,128. The preliminary results from the New Residential Construction release are similar, year-to-date single-family permits over the first six months of 2018 was, 444,700 which is 6.6%… Read More ›
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Western and Southern States Lead Job Gains in June
According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 39 states and decreased in 11 states and the District of Columbia in June 2018 compared to May 2018. Over the month of May, nonfarm payroll employment increased in 43 states and the District of Columbia, and decreased in seven states compared to April 2018. Nationwide, total nonfarm payroll employment… Read More ›
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Western States Lead Single-family Residential Permits Growth, Northeast Lags
Over the first five months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 363,327. On a year-over-year basis, this is an 8.0% increase over the May 2017 level of 336,410. The results from the SOC are similar, year-to-date single-family permits over the first five months of 2018 was, 363,700 which is 8.6% ahead of its… Read More ›
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More State Economies Grew In 2017, Led By the West and the South
Real gross domestic product (GDP) increased in 47 states and the District of Columbia and declined in three states in 2017 compared to 2016, according to the U.S. Bureau of Economic Analysis. In 2016, 40 states and the District of Columbia recorded growth in GDP while ten states experienced a decline in GDP. As a result, nationwide growth in GDP, measured… Read More ›
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More States See Job Gains in May
According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 43 states and the District of Columbia, and decreased in seven states in May 2018 compared to April 2018. Over the month of April, nonfarm payroll employment increased in 26 states and the District of Columbia, was unchanged in two states, and decreased in 22 states compared to… Read More ›
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Western States Lead Single-family Residential Permits Growth
Over the first four months of 2018, the total number of single-family permits issued nationwide reached 279,302. On a year-over-year basis, this is an 8.4% increase over the April 2017 level of 257,719. The results from the SOC are similar, single-family permits over the first four months of 2018 was, 278,500 which is 8.6% ahead of its level over the… Read More ›