Eye On Housing
***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. After a long period of speculation, the Federal Reserve lifted its target for the short-term federal funds rate from 0-25 basis points to 25-50 basis points. The path of subsequent increases is expected to be gradual and will be dependent on the… Read More ›
Tag Archive for ‘eye on the economy’
Consumer Prices in November – Predicting Fed Action
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) for November. The Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 0.3% in November, slower than 2.4% in October. Meanwhile, excluding the volatile food and energy components, the “core” CPI rose at a seasonally adjusted annual rate of 2.2% in November following 2.5% in… Read More ›
Eye on the Economy: Waiting for the Fed
***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. A positive labor market report for November signals that the market can expect an increase in short-term interest rates from the Federal Reserve soon. The Bureau of Labor Statistics estimated net job growth of 211,000 in November, plus an additional 35,000 in… Read More ›
Home Price Appreciation in September
S&P Dow Jones Indices and the Federal Housing Finance Agency (FHFA) recently released their home prices indexes for September, respectively. The Case-Shiller (CS) national house price index accelerated to a 10.4% seasonally adjusted annual pace in September while the price index from the Federal Housing Finance Agency (FHFA) rose at a 9.5% pace. A surge in sales pushed existing house… Read More ›
Consumer Confidence Retreated in November
The Conference Board released the Consumer Confidence Index for November, reporting that the index dropped sharply to 90.4 in November, following a moderate decrease in October. Both subcomponents contributed to the decline. The present situation index declined to 108.1 from 114.6 in October; the expectations index slipped to 78.6 from 88.7 in October. Compared to October, in November, the decline… Read More ›
Eye on the Economy: Housing Data Slips
***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. In the October measure of home builder confidence, sentiment dropped back to levels comparable with the second half of 2015. The November NAHB/Wells Fargo Housing Market Index dropped three points from an upwardly revised October level to 62. The index has been… Read More ›
Rebounding Energy Prices in October
Energy prices rebounded and the Consumer Price Index (CPI) rose moderately in October. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 2.4% in October after a 1.8% decline in September and a 0.8% decline in August. Excluding the volatile food and energy components, “core” CPI rose at… Read More ›
Eye on the Economy: Interest Rate Hike in December?
***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. The Federal Reserve’s monetary policy committee did not increase short-term interest rates at the conclusion of its October meeting, but most analysts expect an increase in the coming months. However, recent macroeconomic data have been mixed, which may delay until next year… Read More ›
Consumer Confidence in October – More Consumers Planned to Buy a Home in the Near Future
The Conference Board recently released the Consumer Confidence Index and its two subcomponents, the Present Situation Index and the Expectations Index, for October. The Consumer Confidence Index dropped to a level of 97.6 in October following the September’s optimistic assessment of 102.6. The present situation index declined to 112.1 from 120.3 in September, and the expectations index also decreased from… Read More ›
Eye on the Economy: Builder Confidence Up in October
***Eye on the Economy is a biweekly survey of NAHB’s economic and housing analysis from Chief Economist David Crowe. Contracts for new home sales disappointed in September, after a strong August and a run of weak job numbers. According to estimates from the Census Bureau, the monthly pace of new home sales declined 11.5% from August, falling from a 529,000 seasonally… Read More ›