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 Trend Upward
The Pending Home Sales Index, a forward-looking indicator based on signed contracts, increased 0.3% in September 2012 to 99.5, up from 99.2 in August. Moreover, the September 2012 PHSI was 14.5% higher than the same period a year ago. Year-over-year, the PHSI has increased for 17 straight months. The National Association of Realtors (NAR) reported monthly increases in the September… Read More ›
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Existing Home Sales and Prices Decrease Slightly
Existing home sales decreased 1.7% in September from August, but were up 11.0% from the same period a year ago. The National Association of Realtors (NAR) reported that September 2012 total existing home sales were at a seasonally adjusted rate of 4.75 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to an upwardly revised 4.83 million… Read More ›
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Pending Home Sales Retreat
The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts, decreased 2.6% in August 2012 to 99.2, down from the upwardly revised level of 101.9 in July. However, the August 2012 PHSI was 10.7% higher than the same period a year ago, and the July PHSI reached its highest level since April 2010 when the home buyer tax… Read More ›
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NAHB’s Construction Forecast Webinar
NAHB’s Fall 2012 Construction Forecast Webinar will be held on Wednesday, October 17, 2012 from 2:00pm to 4:00pm ET. How is the market unfolding as the housing recovery quickens? David Crowe, Chief Economist, NAHB Mark Zandi, Chief Economist, Moody’s Economy.com Robert Denk, Assistant Vice President for Forecasting and Analysis, NAHB The fragile state of the national and world market Foundations… Read More ›
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Existing Home Sales Increase
Existing home sales in August increased 7.8% from July, and were up 9.3% from the same period a year ago. The National Association of Realtors (NAR) reported August 2012 total existing home sales were at a seasonally adjusted rate of 4.82 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to 4.47 million units in July and… Read More ›
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Pending Home Sales Increase to Highest Level Since 2010 Home Buyer Tax Credit
The Pending Home Sales Index, a forward-looking indicator based on signed contracts, increased 2.4 percent in July 2012 to 101.7 from 99.3 in June. The July 2012 PHSI was 12.4 percent higher than the same period a year ago. The PHSI is at its highest level since April 2010 when the home buyer tax credit was about to expire. … Read More ›
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Existing Home Sales Increase, Median Sales Price Declines
Existing home sales increased 2.3 percent from June, and are up 10.4 percent from the same period a year ago. The National Association of Realtors (NAR) reported July 2012 total existing home sales were at a seasonally adjusted rate of 4.47 million combined for single-family homes, townhomes, condominiums and co-ops. That compares to 4.05 million units from the same period… Read More ›
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Pending Home Sales Decline in June
The Pending Home Sales Index, a forward-looking indicator based on signed contracts, decreased 1.4 percent in June 2012 to 99.3 from a downwardly revised 100.7 in May. At this level, the June 2012 PHSI was 9.5 percent higher than the same period a year ago. The National Association of Realtors (NAR) reported that the June PHSI was up 2.6… Read More ›
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Existing Home Sales Decline, Median Prices Increase
Existing home sales declined 5.4 percent from May, but are up 4.5 percent from the same period a year ago. The National Association of Realtors (NAR) reported June 2012 total existing home sales were at a seasonally adjusted rate of 4.37 million combined for single-family homes, townhomes, condominiums and co-ops. The May 2012 seasonally adjusted rate was revised upward to… Read More ›
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Pending Home Sales Increase
The Pending Home Sales Index, a forward-looking indicator based on signed contracts, increased 5.9 percent in May 2012, from 95.5 in April. At this level, the PHSI equaled the level of March 2012, and reached the highest level since the expiration of the home buyer tax credit in April 2010. The May PHSI was 13.3 percent higher than in May… Read More ›