Tag Archive for ‘home building’

Builders’ Sentiment Continues to Rise

The NAHB/Wells Fargo Housing Market Index for October increased one point to 41, the sixth consecutive month for an increase.  Two of the three components to the index remained the same, current and expected sales, while the traffic index rose five points to 35, the highest in over six years.  The index, however, remains below the tipping point of 50… Read More ›

JOLTS Data: Construction Hiring Dips in August, but Sector Job Openings Rise

August data from the Job Openings and Labor Turnover Survey (JOLTS) indicate construction hiring slowed in August after an elevated July. However, construction sector job openings rose for the month. Nonetheless, the pace of hiring remains lackluster, especially given the strength in housing construction activity for 2012. For the economy as a whole, the August JOLTS data reveal that the hiring rate stood at 3.3%… Read More ›

Eye on the Economy: Spotlighting Threats to a Sustained Housing Recovery

*Eye on the Economy is an NAHB newsletter that is published every two weeks and takes a larger view of recent economic and housing policy news. Residential construction spending continued to rise in August, supporting jobs and economic activity as housing continued to improve. Private residential construction spending increased 0.9% on a month-to-month basis and has now risen nearly 18%… Read More ›

Residential Construction Spending Rebounds in August

Private residential construction spending increased 0.9% on a month-to-month basis during August 2012. In addition, estimates for both June and July were revised upward strongly from initial readings of 2.4% and -1.6% to 3.3% and -0.1%, respectively. The nominal level of private residential construction spending has improved significantly over the past year, rising nearly 18% since last August and reaching… Read More ›

Labor Market Stronger than Thought? Maybe a Little

The Bureau of Labor Statistics released a preliminary benchmark adjustment to its payroll employment count. According to the new benchmark, total net job creation was higher by 386,000 positions over the last 12 months period spanning April 2011 through March 2012. While seemingly large, this represents an increase of only 0.3% of total employment. In percentage terms, the second largest adjustment was associated with… Read More ›

Single-Family Built-for-Rent Share Remains Elevated

Despite some recent ups and downs, the share of single-family homes built for rental purposes remains higher than historical norms. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, the market share of single-family homes built for rental purposes, as measured on a one-year moving average, stands at 4.3% for the 2nd quarter of… Read More ›

Pending Home Sales Retreat

The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts, decreased 2.6% in August 2012 to 99.2, down from the upwardly revised level of 101.9 in July.  However, the August 2012 PHSI was 10.7% higher than the same period a year ago, and the July PHSI reached its highest level since April 2010 when the home buyer tax… Read More ›

Mortgage Delinquencies

According to the Mortgage Bankers Association, 3.1 million households are 90 days or more late on their payment or in the foreclosure process and collectively called seriously delinquent. While still excessive by all comparisons to history, the number has dropped 28% from a high of 4.3 million at the end of 2009. The decline has been gaining speed and is… Read More ›