Eye On Housing
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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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Inflation Trajectory?
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in March for the second consecutive month, compared to a 0.1% decline over the past 12 months. According to the latest release from the Bureau of Labor Statistics (BLS), the seasonally adjusted increase in March was the result of increases in the energy and shelter indexes offsetting a decrease… Read More ›
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Strong First Quarter for Consumer Confidence
The University of Michigan Index of Consumer Sentiment reached a ten-year peak of 95.5 in the first quarter of 2015. Although the Index of Consumer Sentiment Index decreased to 93.0 in March from 95.4 in February, it was up from 80.0 from March 2014. The harsh winter dampened the giddiness of falling gasoline prices from the start of the year…. Read More ›
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Pending Sales Strong: First-Time Buyers Join In?
The Pending Home Sales Index increased 3.1% in February, and was up 12.0% from the same period a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 106.9 in February, up from a downwardly revised 103.7 in January. The PHSI increased year-over-year for the… Read More ›
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Will Prices Trigger Fed Impatience?
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in February, and was unchanged over the past 12 months. According to the latest release from the Bureau of Labor Statistics (BLS), the seasonally adjusted increase in February was broad-based, including energy. The energy index increased 1.0% after seven consecutive monthly declines. The gasoline index, a component of the… Read More ›
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Existing Sales Survive Winter
Existing home sales increased 1.2% in February, and the share of sales for first-time buyers registered its first gain since last November. The National Association of Realtors (NAR) reported February 2015 total existing home sales at a seasonally adjusted rate of 4.88 million units combined for single-family homes, townhomes, condominiums and co-ops, up from 4.82 million units in January. February… Read More ›
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Top Ten Publicly-Traded Builder Share Increased in 2014
The 2014 top ten publicly-traded builders captured a 26.4% share of new single-family home closings, up from 25.3% in 2013. The 26.4% share in 2014 is out of the 439,000 new home sales reported by the Census Bureau. However, this count represents a smaller share of the total single-family market when not-for-sale, custom home building is included. 2014 Top… Read More ›
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Retreat
Both the University of Michigan Index of Consumer Sentiment and the Conference Board Consumer Confidence Index declined in February after soaring to cyclical highs in January. The Index of Consumer Sentiment Index decreased to 95.4 in February from 98.1 in January, but was up from 81.6 during February 2014. The Consumer Confidence Index decreased to 96.4 in February from 103.8… Read More ›
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Pending Sales Resume Upward Trend
The Pending Home Sales increased 1.7% in January, and was up 8.4% from the same period a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 104.2 in January, up from an upwardly revised 102.5 in December. The PHSI increased year-over-year for the fifth… Read More ›
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Existing Sales Disappoint
Existing home sales decreased 4.9% in January, and the share of sales for first-time buyers continued to disappoint. The National Association of Realtors (NAR) reported January 2015 total existing home sales at a seasonally adjusted rate of 4.82 million units combined for single-family homes, townhomes, condominiums and co-ops, down from a revised 5.07 million units in December. January existing sales… Read More ›
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Good Morning in America for Consumers
The January 2015 University of Michigan Index of Consumer Sentiment soared to its highest level since January 2004. The Conference Board Consumer Confidence Index also increased sharply, reaching its highest level since August 2007. While three month moving averages smooth these increases, the picture of renewed confidence shines brightly. The Index of Consumer Sentiment Index increased to 98.1 in January,… Read More ›