Eye On Housing
The number of metropolitan areas designated as improving by the NAHB/First American Improving Markets Index (IMI) leaped to 201 in December. The index measures the number of markets that have seen an improvement in three primary market indicators, single-family building permits, home prices and employment, for at least six months. The IMI stood at 125 in November and was amplified in… Read More ›
Tag Archive for ‘home building’
Household Balance Sheets Strengthen As Their Debt Outstanding Falls
The Federal Reserve Bank of New York recently reported that aggregate household debt outstanding was $11.31 trillion on a not seasonally adjusted basis in the third quarter of 2012, $74.00 billion less than the amount outstanding in the second quarter of 2012. In the third quarter of 2012, outstanding debt secured by real estate fell by $135.00 billion from the… Read More ›
Eye on the Economy: Home Construction Continues to Recover
*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. Recent housing construction indicators continue to point to ongoing expansion. The NAHB/Wells Fargo Housing Market Index (HMI) rose another five points to a 6-year high of 46 in November. The HMI measures builder confidence for… Read More ›
Home Sales Are Expected To Accelerate In the Coming Months
The National Association of Realtors (NAR) reported that it’s Pending Home Sales Index (PHSI), a leading indicator of home-buying, accelerated by 5.2% in October to settle at 104.8. An index of 100.0 coincides with a level that is considered historically healthy. October’s monthly increase, which is measured at a seasonally adjusted annual rate, comes on the heels of a 0.4%… Read More ›
Beige Book Points to Growth, But “Sandy” Weighs on Economic Activity
According to the Federal Reserve’s report on Current Economic Conditions, commonly called the “Beige Book”, economic activity has “expanded at a measured pace in recent weeks”. The Beige Book uses anecdotal evidence of economic activity from contacts located around the twelve districts that make up the Federal Reserve System. According to its compilation, the Federal Reserve cited improvements in consumer… Read More ›
Consumer Confidence Up, Fueled by Expectations
Thomson Reuters/University of Michigan reported that its Consumer Sentiment Index rose by 0.1 point on a seasonally adjusted basis in November to 82.7. This month’s increase in the Consumer Sentiment Index marks the fourth over-the-month increase in this measure of consumer confidence. Meanwhile, the Conference Board reported that its Consumer Confidence Index rose to a seasonally adjusted 73.7 in November… Read More ›
New Home Sales Hold Steady in October
The Census Bureau and HUD reported October new home sales at a seasonally-adjusted annual level of 368,000, which is virtually the same as the three previous months. A 32% drop in sales in the Northeast was likely a result of the threat and ultimate impact of the storm named Sandy. Inventories rose 2,000 to 147,000, which remains at a… Read More ›
Townhouse Starts and Market Share Grow During Third Quarter
For the third consecutive quarter, construction of attached single-family housing (townhouses) increased both in terms of total units and market share. Per third quarter 2012 Census data of Starts and Completions by Purpose and Design, total townhouse construction has increased significantly in 2012, reaching a starts total and market share last seen in 2008. Quarterly construction of townhouses rose from 12,000 starts in the third quarter of 2011 to… Read More ›
Production of New Apartments: Upward Trend Continues
In October, the previous month’s upward trend in multifamily production continued, as starts in buildings with five or more apartments came in at a (seasonally adjusted annual) rate of 285,000. Although the line isn’t completely solid, buildings with at least five apartments are generally a reasonable way to draw a distinction between smaller “mom and pop” operations and the province… Read More ›
Housing Starts Continue Advance
HUD and the US Census Bureau reported housing starts for October were up 3.6% from their elevated September level to a seasonally-adjusted annual level of 894,000, the highest since July 2008. On an annual basis, starts increased 41.9% from October 2011. The monthly increase was entirely in multifamily rental production, which rose 11.9% while single-family production was virtually unchanged. … Read More ›