Eye On Housing
Author Archives
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Decline in Energy Prices in January
In January, core inflation increased, while headline inflation slipped as energy prices declined. The Consumer Price Index (CPI), released by the Bureau of Labor Statistics (BLS), rose by 0.1% in January on a seasonally adjusted basis, following a 0.2% increase in December. Excluding the volatile food and energy components, the “core” CPI increased by 0.2% in January, after rising 0.1%… Read More ›
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A Strong Start for 2020
The labor market started the new year with a solid gain. Total payroll employment increased by 225,000 and the unemployment rate was 3.6% in January. Residential construction employment increased by 20,200 in January, the largest gain in the past twelve months. Total construction industry (both residential and nonresidential) employment totaled about 7.6 million in January. The Bureau of Labor Statistics… Read More ›
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US Economic Growth Slows to 2.3% in 2019
According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) expanded at an annual rate of 2.1% in the fourth quarter of 2019, the same increase as in the third quarter. This marks the 23rd consecutive quarter of growth. For the full year, real GDP increased 2.3% in 2019, down from a… Read More ›
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Home Prices Rose in All 20 Metro Areas in November
The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 6.2% in November, following a 5.1% increase in October. It was the highest gain since February 2018. On a year-over-year basis, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index posted a 3.5% annual gain… Read More ›
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A Modest Increase in Core Inflation in December
The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.2% in December on a seasonally adjusted basis, following a 0.3% increase in November. Excluding the volatile food and energy components, the “core” CPI increased by 0.1% in December, after rising 0.2% in November. The food and energy indexes increased faster in December than last… Read More ›
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145,000 Jobs Added in December
Total payroll employment increased by 145,000 and the unemployment rate was unchanged at 3.5% in December. Residential construction employment increased by 3,200 in December, after a decline of 1,100 jobs in November (revised). Total construction industry (both residential and nonresidential) employment totaled about 7.6 million in December. The Bureau of Labor Statistics released the Employment Situation Summary for December. Total… Read More ›
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Home Price Appreciation Accelerated in October
The Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 5.6% in October, faster than a 4.7% increase in September. It was the highest gain since February 2018. On a year-over-year basis, the Case-Shiller U.S. National Home Price NSA Index posted a 3.3% annual gain in October, up… Read More ›
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Consumer Prices Rise in November
The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.3% in November on a seasonally adjusted basis, following a 0.4% increase in October. Excluding the volatile food and energy components, the “core” CPI increased by 0.2% in November, the same increase as in October. In November, increases in the food and energy indexes contributed… Read More ›
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Strong Job Growth in November
Total payroll employment increased by 266,000 in November, while the unemployment rate declined to 3.5%. Residential construction employment was little changed (-500) in November, after an increase of 5,400 jobs in October (revised). Total construction industry (both residential and nonresidential) employment totaled about 7.5 million in November. The Bureau of Labor Statistics released the Employment Situation Summary for November. Total… Read More ›
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New Homes Built with Private Wells and Individual Septic Systems in 2018
NAHB Economics analysis of the Survey of Construction (SOC) data shows that about 9% of new single-family homes started in 2018 were served by individual wells and almost 16% have private septic systems. These shares, however, vary widely across the nine Census divisions with the corresponding shares reaching 31% and 37% in New England – the highest occurrence rates in… Read More ›