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 Sales Up
Boosted by increases in the West and South, the Pending Home Sales Index increased 1.5% in September, and climbed 2.4% higher than the same month last year. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 110.0 in September from a downwardly revised 108.4 in August…. Read More ›
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First-Time Buyers Step Up
Existing home sales, as reported by the National Association of Realtors (NAR), increased 3.2% in September and were up 0.6% from the same month a year ago, as first-time buyers seized a 34% share of sales. Total existing home sales in September increased to a seasonally adjusted rate of 5.47 million units combined for single-family homes, townhomes, condominiums and co-ops,… Read More ›
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Pending Sales Decline
The Pending Home Sales Index decreased 2.4% in August, declining for the third time in four months, and falling 0.2% below its level for the same month 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), decreased to 108.5 in August from a downwardly revised… Read More ›
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Pending Sales Expand
Led by the West, the Pending Home Sales Index increased 1.3% in July to the highest level since April, and increased 1.4% year-over-year. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 111.3 in July from a downwardly revised 109.9 in June. The PHSI surged to… Read More ›
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Existing Sales Stumble
Existing home sales, as reported by the National Association of Realtors (NAR), decreased 3.2% in July and were down 1.6% from the same month a year ago, the first year-over-year decline since November 2015. Total existing home sales in July decreased to a seasonally adjusted rate of 5.39 million units combined for single-family homes, townhomes, condominiums and co-ops, down from… Read More ›
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First Time Buyers Arrive
Existing home sales, as reported by the National Association of Realtors (NAR), increased 1.1% in June to the highest level since February 2007, as first-time buyers grabbed a 33% share, the best performance in four years. June existing sales are up 3.0% from the same month a year ago. Total existing home sales in June increased to a seasonally adjusted… Read More ›
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Pending Sales Pause
The Pending Home Sales Index decreased 3.7% in May, and fell year-over-year for the first time since August 2014. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 110.8 in May from a downwardly revised 115.0 in April, and is 0.2% below the same month a… Read More ›
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Existing Sales Continue to Impress in May
Existing home sales, as reported by the National Association of Realtors (NAR), increased 1.8% in May to the highest level since February 2007. The May share of first-time buyers, however, remained mired at 30% in May and for all of 2015. May existing sales are up 4.5% from the same month a year ago. Total existing home sales in May… Read More ›
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Market Share of Top Builders in 2009 and 2015
During the housing recovery, the market share of total closings among the top 100 builders increased by 11.7% from the depths of the Great Recession to 2015. From 2009 to 2015, the market share of closings for the top 20 builders increased by 9.3%, and the market share among the top 50 builders increased by 10.7% over the same period…. Read More ›
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Pending Sales Best in Over Ten Years
The Pending Home Sales Index soared 5.1% in April to the highest level in over a decade, and has increased year-over-year for 20 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 116.3 in April from an upwardly revised 110.7 in March, and is… Read More ›