Tag Archive for ‘home building’

Custom Home Construction Steady as Overall Market Expands

The onset of the housing crisis and the Great Recession interrupted a 15-year long increasing trend toward a growing share for spec home building. As housing production slowed in 2006 and 2007, the share of non-spec building, particularly custom home building, increased. This not-for sale single-family housing construction is classified in Census housing starts data as either owner- or contractor-built. The share increased because… Read More ›

Apartment Production Stable at 4-Year High

In November, the (seasonally adjusted) annual rate of starts in buildings with five or more apartments was 285,000, according to the latest  release from the Census Bureau’s Manufacturing and Construction Division.   In the release this shows up as a 4,000 increase from October, but the five-plus starts rate for October was revised downward by 4,000; so the preliminary rate for November… Read More ›

November Existing Home Sales Remain Strong

Existing home sales increased 5.9% in November from a downwardly revised level in October, and were up 14.5% from the same period a year ago. The National Association of Realtors (NAR) reported that November 2012 total existing home sales were at a seasonally adjusted rate of 5.04 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to… Read More ›

Housing Production Takes a Breather

Housing starts fell 3% in November but from an elevated level in September and October. Single-family starts declined 4.1% also adjusting from what may have been a momentary surge in September and October as builders try to restock very low inventory levels. The interpretation is further supported by a 3.6% rise in permits, an indicator of future construction activity.  … Read More ›

Consumer Prices Decline On Falling Energy Costs; Gas Prices Fall but Household Energy Increases

The Bureau of Labor Statistics (BLS) has reported that its Consumer Price Index for Urban Consumers, CPI-U, declined on a monthly seasonally adjusted basis of 0.3% in the month of November. This is the first decline for the headline index since May 2012. The decline in the CPI-U largely reflects a steep fall in energy prices, which fell by 4.1%… Read More ›

Builders’ Sentiment Up Again

The NAHB/Wells Fargo Housing Market Index rose for its eighth straight month to 47, a two-point increase from the revised November level of 45. Both sales component indexes, present and expected, are above the 50 tipping point where more builders see a better market than see a poorer market. The December index is at the highest level since April 2006…. Read More ›

Household Balance Sheets Continue Improvement in 3rd Quarter

During the third quarter, household balance sheets moved forward with increases in household net worth, declines in debt, and a small drop in the personal savings rate. These are favorable improvements that will help housing demand in 2013. To evaluate the status of household balance sheets, NAHB has been tracking two key economic variables that are critical for a robust and… Read More ›

Producer Prices in November – Energy Price Declines Push Overall Prices Down – Little Relief For Home Builders

The Bureau of Labor Statistics (BLS) released the Producer Price Indexes (PPI) for November. Once again energy prices are the main driver. The PPI for finished goods declined 0.8%, led by a 4.6% decline in the energy index. Core producer prices (i.e., excluding food and energy) rose 0.1%. Historically, core prices have been relatively stable, averaging monthly increases of 0.2%,… Read More ›

National Data Suggest Household Deleveraging Of Credit Card Debt

The Federal Reserve Board recently reported that consumer credit outstanding rose in October on a monthly seasonally adjusted basis. An analysis of the release by NAHB illustrated that the expansion in consumer credit outstanding in 2011 and 2012 reflected growth in auto and student loans while credit card debt fell. This decline in credit card debt outstanding had begun prior… Read More ›