Eye On Housing
Author Archives
Stephen Melman, J.D., is the Director of Economic Services at the National Association of Home Builders. Mr. Melman is a spokesman for NAHB’s forecast of new housing trends and the analysis of the home building industry. He has published numerous research articles on topics including industry structure and publicly traded builders. Before his current position, Mr. Melman was responsible for NAHB’s multifamily and federal housing program initiatives. Prior to NAHB, Mr. Melman was an Appeals Officer for the US Civil Service Commission in Washington, DC. He is a former president of Sinai House, a nonprofit that provides transitional housing for homeless families in Washington, DC. Mr. Melman earned a J.D. from St. Louis University School of Law, a Masters in City and Regional Planning from Rutgers University, and a B.A. in Economics from Washington University in St. Louis.
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Pending Home Sales Stabilize
Pending home sales increased in September, but have decreased on an annual basis for nine consecutive months. The Pending Home Sales Index increased 0.5% in September, but remains down 1.0% year-over-year. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI increased to 104.6 in September,… Read More ›
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Existing Sales Fall
Existing-home sales in September declined 3.4% to the lowest level since November 2015, and are now down 4.1% from a year ago. The first-time buyer share of 32% was up from 31% last month and 29% a year ago. The National Association of Realtors reported that 47% of homes sold in September were on the market less than a month…. Read More ›
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Pending Home Sales Continue to Slide
Pending home sales have decreased on an annual basis for eight consecutive months, and have declined month over month in four of the past five months. The Pending Home Sales Index decreased 1.8% in August, and is now down 2.3% year over year. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the… Read More ›
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Top Ten Publicly-Traded Builder Share Lower in 2017
Based on 2017 10K filings, the 2017 top ten publicly-traded builders captured a 25.5% share of new single-family home closings, down from 27.4% in 2016. The 25.5% share in 2017 is out of the 2017 US total of 616,000 new home sales. This count represents a smaller share of the total single-family market when not-for-sale, custom home building is included…. Read More ›
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Existing Sales Steady
Existing-home sales were unchanged in August, and are 1.5% below the level a year ago. The first-time buyer share of 31% was down from 32% last month and unchanged from a year ago. The National Association of Realtors reported that 52% of homes sold in August were on the market less than a month. The August inventory was also unchanged,… Read More ›
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Existing Sales Fall to Slowest Pace in Two Years
Existing-home sales decreased 0.7% in July to a level 1.5% below a year ago, and sales have now decreased year-over-year for four straight months. The first-time buyer share of 32% was up from last month, but down from 33% a year ago. The National Association of Realtors reported that 55% of homes sold in July were on the market less… Read More ›
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Pending Home Sales Follow Uptick in June Inventory
Following the June increase in existing inventory, the Pending Home Sales Index increased 0.9% in May, but remains 2.5 % below the level one year ago. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI increased to 106.9 in June from 105.9 in May. The… Read More ›
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Existing Sales Decrease for Third Consecutive Month
Existing-home sales decreased 0.6% in June to a level 2.2% below a year ago, and sales have now decreased year-over-year for three consecutive months. The first-time buyer share of 31% was unchanged from last month, but down from 32% a year ago. The National Association of Realtors reported that 58% of homes sold in June were on the market less… Read More ›
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Pending Home Sales Continue Slide in May
The Pending Home Sales Index decreased 0.5% in May, and remains 2.2 % below the level one year ago, having declined on an annualized basis for the fifth straight month. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI decreased to 105.9 in May from… Read More ›
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Existing Sales Retreat 0.4% in May
Existing-home sales decreased 0.4% in May to a level 3.0% below a year ago, and sales have now decreased year-over-year for three consecutive months. The first-time buyer share of 31% was down from 33% last month and a year ago. The National Association of Realtors reported that 58% of homes sold last month were on the market less than a… Read More ›