Tag Archive for ‘economics’

What Will Unlocked Pent-Up Housing Demand Look Like?

NAHB has estimated that as a result of current economic conditions, there are approximately 2.1 million households that were expected to form in the last few years but did not. These “potential” households typically represent people doubling and tripling up on roommates and young adults living with parents. Unlocking this pent-up demand, a process that will be facilitated by an… Read More ›

Case-Shiller House Prices – A Tale of 20 Cities

The S&P Case-Shiller Home Price Indexes were released today with data through January for the 10 and 20 city composites (and component cities). The national index, which is calculated quarterly, and the Charlotte, NC metropolitan area, due to delays in data reporting, were not included in the release. The composites were both down 0.8 percent from December, according to the… Read More ›

NAHB’s Spring 2012 Construction Forecast Webinar

Sign up for NAHB’s April 25, 2012 Construction Forecast Webinar and join the conversation about the housing market.  David Crowe, NAHB Chief Economist Chris Varvares, President, Macroeconomic Advisers Robert Denk, NAHB Assistant Vice President for Forecasting and Analysis Listen to the experts. Ask your questions.   NAHB Wells Fargo Housing Market Index is up 14 points over the past six… Read More ›

FHFA Home Price Movement Mixed in January

The Federal Housing Finance Agency (FHFA) released monthly home price indexes for the US and the 9 Census divisions for January. Home prices for the US overall were essentially flat, with no change from December on a seasonally adjusted basis, and a 0.5 percent decline unadjusted. Prices are down slightly, 0.7 percent since last January, both adjusted and unadjusted. The… Read More ›

New Home Sales Stall

The rate of new home sales fell in February to an annual pace of 313,000 down 1.6% from January’s 318,000 but off 6.8% from December’s revised 336,000, which marked a high point since the end of the home buyer tax credit in spring 2010. The three-month moving average sales pace remains the highest in almost two years. The fall off… Read More ›

Property Taxes Remain Historically High

Property taxes are an important source of revenue for state and local governments to finance government services, particularly education. And despite claims to the contrary, property tax payments continue to provide an outsized share of state and local tax collections. In fact, Census data of state and local government tax collections for the final quarter of 2011 indicate a small… Read More ›

Construction Employment Continues to Grow in 2012

The year 2011 was the first year since 2006 for which the overall construction sector added net jobs. And January data from the Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics indicate that the construction sector continues to expand. For the economy as whole, hiring continues at rates that add net jobs to the economy. The… Read More ›

Existing Home Sales Up Strongly From a Year Ago, Slightly Down from a Month Ago

February 2012 existing home sales were up 8.8 percent from a year ago, although down 0.9 percent from the upwardly revised January level. The February 2012 seasonally adjusted level of 4.59 million sales was up from the 4.22 million level of sales a year ago. The National Association of Realtors (NAR) reported that the February seasonally adjusted sales of existing… Read More ›