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 Fade
For the third time in four months, the Pending Home Sales Index decreased in November, but has increased year-over-year for 15 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 0.9% in November to 106.9 from an upwardly revised 107.9 in October, but remained 2.7%… Read More ›
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Top Posts of 2015: What Builders are Building
With the end of 2015 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In May, we published survey data regarding home construction trends. ———————————————————— Based on a December 2014 survey of builders, the Walk-in Closet in the Master Bedroom and the Laundry Room ranked as the top two features builders are most likely to… Read More ›
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Existing Sales Surprise
Existing home sales, as reported by the National Association of Realtors (NAR), decreased 10.5% in November to the lowest level since April 2014, a decline NAR attributed to the implementation of The Know Before You Owe mortgage disclosure rule by the Consumer Financial Protection Bureau (CFPB). The new rule was designed to help consumers understand their loan options and avoid… Read More ›
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Pending Sales Hold
After two consecutive monthly declines, the Pending Home Sales Index increased modestly in October from an upwardly revised September reading, and has increased year-over-year for 14 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 0.2% in October to 107.7 and is 3.9% above the… Read More ›
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Existing Sales Realign
Existing home sales, as reported by the National Association of Realtors, decreased 3.4% in October, and the annual share of first-time buyers in 2015 fell to its second-lowest level since the survey was launched in 1981. Total existing home sales in October decreased to a seasonally adjusted rate of 5.36 million units combined for single-family homes, townhomes, condominiums and co-ops,… Read More ›
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Pending Sales Down Again
Although the Pending Home Sales Index decreased for the second consecutive month in September to its second lowest reading in 2015, the PHSI has increased year-over-year for 13 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 2.3% in September to 106.8 from a downwardly… Read More ›
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Existing Sales Rebound
Existing home sales, as reported by the National Association of Realtors, increased 4.7% in September, and have increased year-over-year for 12 consecutive months. However, the first-time buyer share decreased to 29%, down from 32% the previous month. Total existing home sales in September increased to a seasonally adjusted rate of 5.55 million units combined for single-family homes, townhomes, condominiums and… Read More ›
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Pending Sales Retreat
The Pending Home Sales Index decreased in August, but has increased year-over-year for 12 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 1.4% in August, but is up 6.1% from the same month a year ago. While increasing in the West, the PHSI declined… Read More ›
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Existing Sales Fall in August But First-Time Buyer Share Rises
Although existing home sales, as reported by the National Association of Realtors, decreased in August after three successive months of growth, the first-time home buyer share increased sharply to 32% from 28% in July. Total existing home sales decreased by 4.8% in August to a seasonally adjusted rate of 5.31 million units combined for single-family homes, townhomes, condominiums and co-ops,… Read More ›
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Pending Sales Maintain the Ride Up
The Pending Home Sales Index increased in July for the sixth time in seven months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 0.5% in July from an upwardly revised June report, and is up 7.4% from the same month a year ago. Most of the… Read More ›