Tag Archive for ‘home building’

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 ›

October Existing Home Sales and Prices Rise Slowly

Existing home sales increased 2.1% in October from a downwardly revised level in September, but were up 10.9% from the same period a year ago. The National Association of Realtors (NAR) reported that October 2012 total existing home sales were at a seasonally adjusted rate of 4.79 million units combined for single-family homes, townhomes, condominiums and co-ops. That compares to… Read More ›