Tag Archive for ‘home building’

Mortgage Lending Expected to Rise, but Risks Remain

The Federal Reserve Board released the latest results from the Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS). Responses to the April survey indicate that mortgage lending is expected to rise over the coming year, but certain risks could derail its recovery. In each survey iteration, the SLOOS asks senior bank officers to assess their business and consumer lending… Read More ›

Number of Open Construction Jobs Remains Elevated

Recent government employment data suggest a pickup in construction sector job openings over the last half-year. While the increase in unfilled positions is consistent with the uptick in construction sector activity, particularly for home building, the data reflect only modest increases in total employment thus far. For the construction sector, Job Openings and Labor Turnover Survey (JOLTS) data from the Bureau… Read More ›

Improving Markets Soften Slightly

The NAHB/First American Improving Markets Index fell by 15 to 258 metropolitan areas in May. The decline was due to 19 areas falling off the index while four were added. The primary cause for leaving the list was softness in house prices. The 15 metropolitan areas that were dropped from the list because of a fall in house prices had… Read More ›

Housing is Contributing to Economic Growth

Over the last two years, home building has experienced significant growth, albeit off of low levels. And this expansion has added to overall growth of Gross Domestic Product (GDP). In fact, since the last quarter of 2011, advances in home building have been responsible for 20% of total economic expansion. While the economy as a whole has slowed somewhat over the last year,… Read More ›

House Price Growth Is Accelerating

Standard and Poor’s reported that house prices rose in February. According to the most recent release, the S&P/Case-Shiller Home Price Index – 20 City Composite grew by 9.3% on a year-over-year not seasonally adjusted basis. Following 20 consecutive months of year-over-year declines, house prices registered their ninth consecutive year-over-year increase in February. Year-over-year house price growth has been generally widespread…. Read More ›

Remodelers’ Confidence Dips in the First Quarter

Conditions in the remodeling market dipped in the first quarter, according to NAHB’s survey of professional remodelers, as the overall Remodeling Market Index (RMI) derived from the survey fell six points to 49.   Prior to that, the RMI had been generally trending upward, albeit with significant quarter-to-quarter fluctuations.  So, although the first quarter 2013 RMI indicates a pause in the… Read More ›

Pending Home Sales Increase Modestly

The Pending Home Sales Index, a forward-looking indicator based on signed contracts, increased 1.5% in March 2013 to 105.7 from a downwardly revised 104.1 in February. The March 2013 PHSI reported by the National Association of Realtors (NAR) was 7.0% higher than the same period a year ago.  NAR reported that pending home sales have been above their previous year… Read More ›

Rates on New Home Loans Increase Slightly

Interest rates on loans for new homes increased slightly in March, according to data recently released by the Federal Housing Finance Agency (FHFA).  The average contract rate on conventional loans for newly built homes increased 13 basis points, to 3.50 percent.  Although initial fees and charges on the loans declined from 1.17 to 1.08 percent, that still resulted in an… Read More ›

Eye on the Economy: Short-Term Ups and Downs for Housing

Recent housing market data have illustrated that while the long-run trend for housing remains one of improvement, there will be bumps along the road. In particular, availability of building lots and skilled labor, rising building material prices, and big picture economic and policy developments will present month-to-month challenges for home builders and other housing businesses. For instance, the share of… Read More ›

House Prices Continue Their Ascent

Nationally, house prices continued to rise in February, contributing to the overall recovery in U.S. house prices. According to the most recent release by the Federal Housing Finance Agency, U.S. house prices rose by 0.7% on a month-over-month seasonally adjusted basis in February. This is the thirteenth consecutive monthly increase for the House Price Index – Purchase Only. Over this… Read More ›