Tag Archive for ‘economics’

House Prices: the “Priced Out” Effect

NAHB Economics regularly receives requests to evaluate the effects of pending new regulations on housing affordability in local markets where regulatory actions are expected to raise home prices.  The NAHB Priced Out Model provides straightforward answers on the issue. The model estimates how many households can qualify for a new home mortgage before and after a house price increase. The… Read More ›

Metro Area New Home Prices

The U.S. Census Bureau regularly tracks new home prices for the United States, Census Regions and Divisions. However, there is no systematic measurement of new home prices by states or metropolitan areas. To fill the void, NAHB Economics periodically estimates median new home prices for metropolitan areas. The most recent estimates show that median new home prices range from less… Read More ›

The Employment Situation for January – Moving In The Right Direction

The Bureau of Labor Statistics (BLS) released the Employment Situation report for January today. Annual revisions complicate the release, but the news is basically good. Payroll employment rose by 243 thousand in January, and the November and December figures were revised upward by a total of 60 thousand. The unemployment rate declined to 8.3 from 8.5 percent. For the January… Read More ›

An Aging Housing Stock

The American owner-occupied housing stock is growing older. And this fact may signal future increased demand for both remodeling and new home construction over the long-term. Data from the Department of Housing and Urban Development American Housing Survey (AHS) reveal that the median age of an owner-occupied home in the United States was 34 years old as of the 2009 survey…. Read More ›

Fourth Quarter GDP Growth – Advance Estimate: Encouraging

The Bureau of Economic Analysis (BEA) released the advance estimate of real GDP growth for the fourth quarter of 2011. Real GDP grew at a seasonally adjusted annual rate of 2.8 percent, up from 1.8 percent in the third quarter. The main contributors were private inventory investment and personal consumption expenditures (PCE). Declines in government spending, at the federal, state… Read More ›

Federal Open Market Committee January Meeting Statement – Enjoying the View

The communication following the Federal Open Market Committee (FOMC) two day meeting January 24-25 comes in three parts. The standard statement is joined by the release of tables and charts summarizing the economic projections and the target federal funds rate projections of the meeting participants, as well as an additional statement explaining the Fed’s principles regarding longer-term goals and policy… Read More ›

FHFA Shows Modest Home Price Improvement in November

The Federal Housing Finance Agency (FHFA) released monthly home price indexes for the US and the 9 Census divisions for November. Home prices for the US overall increased by 1.0 percent on a seasonally adjusted basis, while 8 of the 9 Census divisions had increases, ranging from 0.2 to 2.0 percent. Home prices in the Middle Atlantic division declined by… Read More ›

Strong Increase in Existing Home Sales

Existing home sales continued to grow on a month-to-month basis in December, rising for a third consecutive month. The National Association of Realtors (NAR) reported sales of existing homes comprised of completed transactions of single-family, townhouses, condominiums and coops rose 5.0 percent in December to a seasonally adjusted annual rate of 4.61 million. This is an increase from the downwardly… Read More ›