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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Housing Kicks into Gear
Pending home sales in May posted the largest monthly increase since the expiration of the first-time home buyer tax credit in April 2010. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 6.1% in May to 103.9 from an upwardly revised April level of 97.9. It is… Read More ›
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Existing Sales Rebound
Existing home sales rebounded from the winter quarter with the highest monthly increase in almost three years, boosting prospects for homebuilders. Existing home sales increased 4.9% in May, although that rally still left existing sales 5.0% below the same period a year ago. The National Association of Realtors (NAR) reported May 2014 total existing home sales at a seasonally adjusted… Read More ›
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Churning Among Top Ten Builders
The 2013 ranking and composition of the top ten publicly-traded builders changed as Hanley-Wood released its BUILDER 100 of 2013 builder closings. The previously stable order changed the ranking of the second and third largest builders, and one new entry broke through in 2013. 2013 BUILDER 100 We estimated the 2013 big builder share earlier in the year based on… Read More ›
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Existing Sales and Inventory Increase
Existing home sales increased 1.3% in April, but fell 6.8% from the same period a year ago. The National Association of Realtors (NAR) reported April 2014 total existing home sales at a seasonally adjusted rate of 4.65 million units combined for single-family homes, townhomes, condominiums and co-ops, up from 4.59 million units in March. The West and South increased by… Read More ›
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Pending Sales Change Course
The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts, increased 3.4% in March to 97.4 from an upwardly revised February level of 94.2. The PHSI monthly increase reported by the National Association of Realtors was the first since June of 2013, although it remains 7.9% below the level of 105.7 last March. The March PHSI increased… Read More ›
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Existing Sales Remain Flat
Existing home sales decreased 0.2% in March, and fell 7.5% from the same period a year ago. The National Association of Realtors (NAR) reported March 2014 total existing home sales at a seasonally adjusted rate of 4.59 million units combined for single-family homes, townhomes, condominiums and co-ops, down from 4.60 million units in February. The Northeast and Midwest increased by… Read More ›
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Pending Sales Down
The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts, decreased 0.8% in February to 93.9 from a downwardly revised January level of 94.7. The PHSI now has declined eight straight months, and is at the lowest level since the 92.2 reported in October 2011. The February 2014 PHSI reported by the National Association of Realtors (NAR)… Read More ›
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Existing Sales Flat
Existing home sales decreased 0.4% in February, and fell 7.1% from the same period a year ago. The National Association of Realtors (NAR) reported February 2014 total existing home sales at a seasonally adjusted rate of 4.60 million units combined for single-family homes, townhomes, condominiums and co-ops, down from 4.62 million units in January. The West and South increased by… Read More ›
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Top Ten Publicly-Traded Builder Share Ticked Up One Percentage Point in 2013
The top ten publicly-traded builder share of new home closings ticked up as a share of total US new home sales to 25.3% in 2013 from 23.9% in 2012. The 25.3% share in 2013 is out of the 430,000 new home sales reported by the Census Bureau for 2013. 2013 The composition of the top ten builders changed in 2013…. Read More ›
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Weather or Not
The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts, ticked up 0.1% in January, following a revised 5.8% drop in December, which was the lowest since the 94.6 reported in November 2011. The January 2014 PHSI reported by the National Association of Realtors (NAR) was 9.0% lower than the same period a year ago. The January… Read More ›