Tag Archive for ‘home building’

NAHB Finds Problems of Existing Housing Stock Often Understated

The traditional method for measuring the quality of homes, developed by the Department of Housing and Urban Development (HUD), shows only about 1.5 percent as severely inadequate.  Using the same data source (the HUD/Census Bureau American Housing Survey), NAHB defined inadequate housing in a way that not only helps explain why prices and rents are sometimes lower than expected, but also shows… Read More ›

Remodeling Market Index Little Changed in First Quarter

After increasing in the 4th quarter of 2011, NAHB’s Remodeling Market Index (RMI) declined by one point to 47 in the 1st quarter of 2012. Both of the RMI’s major components declined in the 1st quarter.  The RMI component measuring current market conditions dropped one point to 49, while the component indicating future remodeling activity fell two points to 44. The… Read More ›

Lumber Prices Moving Higher – SLA Could Become a Factor

A mill fire in British Columbia sent lumber prices higher, adding to a number of supply side developments that moved the Random Lengths Framing Lumber Composite Price (FLCP) to $316 on Friday. This price, if maintained, would trigger provisions in the US-Canadian Softwood Lumber Agreement (SLA) reducing tariffs on imports of Canadian lumber. An average price above the $315 limit… Read More ›

Townhouse Market Share Growing Off Recent Lows

When we last reported on townhouse construction (attached single-family housing), townhouses had reached a decade low in terms of share of the total single-family construction market. We expected this short-run decline to end and the share of construction for townhouses to rise to its historically increasing long-run trend. Census data from the fourth quarter of 2011 suggests that this is happening. While the… Read More ›

Pending Home Sales Increase

The Pending Home Sales Index, a forward-looking indicator based on signed contracts, increased 4.1 percent in March to its highest level since April 2010 when the federal homebuyer tax credit program was ending. The March increase was on top of an upwardly revised February 2012 PHSI of 97.4, and the PHSI is now 12.8 percent above the March 2011 level…. Read More ›

The Housing Recovery is Slow Going, But Things Are Improving

There has been a flurry of media stories regarding the latest housing data that suggest the recent momentum in the housing market has stalled and the industry is heading toward another downturn. Although the latest monthly housing data showed modest declines, the less volatile quarterly data have continued to show modest improvement.  Consequently, there is plenty of evidence for retaining… Read More ›

Existing Home Sales Decline Slightly, but are Up from a Year Ago

March 2012 existing home sales declined 2.6 percent from the upwardly revised February level, but are up 5.2 percent from the same period a year ago. The National Association of Realtors (NAR) reported March 2012 total existing home sales were at a seasonally adjusted rate of 4.48 million single-family homes, townhomes, condominiums and co-ops. The upwardly revised February 2012 seasonally… Read More ›

Tax Week: The Real Estate Tax Deduction

As tax filing season comes to a close, now is a good time to take a look at some of the basic facts concerning the deduction for property taxes paid on an owner-occupied home. As homeowners past and present know, this deduction helps offset the cost of homeownership. A few facts about the deduction from 2010 data:  The property tax deduction… Read More ›