Tag Archive for ‘home building’

AD&C Lending in the 4th Quarter of 2012

One factor holding back an even stronger rebound in home construction is the lack of accessible Acquisition, Development and Construction (AD&C) loans. While it appears the period of dramatic declines of the outstanding stock of AD&C loans ended in 2012, there has not yet been a robust expansion of lending consistent with current demand for home building.  According to data from the FDIC, the outstanding stock of… Read More ›

AD&C Lending in the 4th Quarter of 2012

One factor holding back an even stronger rebound in home construction is the lack of accessible Acquisition, Development and Construction (AD&C) loans. While it appears the period of dramatic declines of the outstanding stock of AD&C loans ended in 2012, there has not yet been a robust expansion of lending consistent with current demand for home building.  According to data from the FDIC, the outstanding stock of… Read More ›

One Point in the HMI Eventually Means 37,000 Jobs

Every month, the NAHB/Wells Fargo Housing Market Index  (HMI) provides an overall measure of builder confidence in the strength of the single-family housing market. Also every month, the U.S.  Bureau of Labor Statistics (BLS) produces estimates of employment in residential construction  (or at least it has since 2001, when it began to split jobs in the various trades into residential… Read More ›

Builders Selling Well

New home sales surged forward in January and inventories dipped to their lowest in 8 years as housing demand continues to return. On an annual seasonally-adjusted basis, new homes sold at a 437,000 pace in January, up 15.6% from December and 28.9% from a year ago. The improvement was broad based in all four regions. The surge in sales and… Read More ›

Fourth Quarter 2012 Custom Home Building

Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicate that while the growth in custom home building starts has been relatively flat by count, the market share for owner- and contractor-built homes has shrunk due to a rebound in other types of home building. The onset of the housing crisis and the Great Recession interrupted a 15-year long… Read More ›

Multifamily Production Falls Back to November Rate

The Census Bureau’s preliminary estimate of starts in buildings with five or more apartments for January came in at 260,000 (at a seasonally adjusted  annual rate).  As predicted in last month’s post, a rate well in excess of 300,000 proved too high to sustain.  In fact, the five-plus starts rate for December was revised upward, from 330,000 to 352,000—so the preliminary… Read More ›

Refinancings Contribute to A Lower Average Mortgage Debt Burden

Mortgage applications eased for the second consecutive week. According to the Mortgage Bankers Association, mortgage application activity, which includes both refinancing and home purchase demand, was 1.7% lower on a seasonally adjusted basis in the week ending Feb. 15. In the week ending February 8, the market index fell by 6.4%. The most recent decline in weekly seasonally adjusted mortgage… Read More ›

Inventory of Existing Homes Falls in January

Existing home sales increased 0.4% in January from a downwardly revised level in December, and were up 9.1% from the same period a year ago. The National Association of Realtors (NAR) reported that January 2013 total existing home sales were at a seasonally adjusted rate of 4.92 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to… Read More ›