Eye On Housing
Consumer prices in January saw the smallest year-over-year gain since October 2021 with a seventh consecutive month of a deceleration. However, this disinflation pace was much slower than expected, partially because new methodology introduces higher weights for shelter and lower weights for food and energy to reflect changes in consumer spending in 2021. The shelter index (housing inflation) continued to… Read More ›
Tag Archive for ‘consumer spending’
What Do Home Buyers Buy after Moving
NAHB analysis of Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics shows that during the first year after closing on a home sale, home buyers tend to spend considerably more money on furnishings, appliances and remodeling compared to non-moving owners. Buyers of new homes spend most, spending four times as much as non-moving owners and twice as… Read More ›
Consumer Confidence Improved in December
Consumer confidence continued to improve in December as inflation concerns eased after hitting a 13-year high last month. Spending intentions for homes, cars, and major appliances all increased. However, consumer spending will continue to face headwinds from higher prices, Omicron surge and reduced fiscal stimulus in 2022. The Consumer Confidence Index, reported by the Conference Board, rose 3.9 points from… Read More ›
What Do Home Buyers Buy after Moving
In a prior recent post we discussed NAHB research showing how during the first year after closing on a home sale, home buyers tend to spend considerably more money on furnishings, appliances and remodeling compared to non-moving owners. Buyers of new homes spend most, outspending non-movers by a factor of 2.6. Buyers of existing homes spend twice as much as… Read More ›
How a Home Purchase Boosts Consumer Spending
Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics research shows that a home purchase triggers additional spending on appliances, furnishings, and remodeling. NAHB’s most recent estimates are based on the 2012-2014 data and show that during the first two years after closing on the house, a typical buyer of a newly-built single-family… Read More ›
FOMC Statement: All Eyes on December
The statement released following the September meeting of the Federal Open Market Committee (FOMC) fell in line with market expectations as the committee chose to keep the federal funds rate unchanged. The Committee’s assessment of the economy remained positive, leaving a December rate hike very much in play. In the statement, the Committee continued its upbeat assessment of labor and economic activity…. Read More ›
Property Tax Revenue Grows Over Four Percent
NAHB analysis of the Census Bureau’s quarterly tax data shows that $524 billion in taxes were paid by property owners over the four quarters ending in Q1 2016. This represents a $22 billion—or 4.4%—increase over the previous trailing four quarters, the largest percentage increase since 2009. Property taxes accounted for 39.3% of state and local tax receipts, the largest share… Read More ›
Beige Book: Modest Growth Continues, but Some Optimism Emerges for Residential Real Estate
The latest issue of the Federal Reserve’s Beige Book portrayed modest economic growth across all 12 Fed Districts. This particular theme of “modest” or “moderate” growth has been for most districts in each of the past several releases. Consumer spending, outside of some seasonal items hurt by low snowfall totals, remained solid during January and early February. Major winter tourist… Read More ›
Fed Beige Book: Modest Pace of Growth Continues for Most Districts
The latest release of the Federal Reserve’s Beige Book indicates that economic activity expanded at a “modest to moderate pace” in nearly all 12 Fed Districts. The sole exception was the Richmond District, and even there local economic activity was described as being at worst flat versus the previous reporting period. Participants noted a solid increase in consumer spending activity… Read More ›