Eye On Housing
Despite softening economic conditions, home building economic data have been fairly positive in recent months. For example, the pace of housing starts now stands near a seven-year high. And as we forecasted last quarter, the period of declines for the outstanding stock of Acquisition, Development and Construction (AD&C) loans appears to have ended. According to data from the FDIC, for the first time… Read More ›
Tag Archive for ‘home building’
Pending Home Sales Increase to Highest Level Since 2010 Home Buyer Tax Credit
The Pending Home Sales Index, a forward-looking indicator based on signed contracts, increased 2.4 percent in July 2012 to 101.7 from 99.3 in June. The July 2012 PHSI was 12.4 percent higher than the same period a year ago. The PHSI is at its highest level since April 2010 when the home buyer tax credit was about to expire. … Read More ›
Eye on the Economy: Home Builder Confidence Reaches Five-Year High
*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 economic data indicate that the overall economy has entered a slow growth period. Nonetheless, during this period economic indicators have generally suggested that housing, and home building in particular, is an important source… Read More ›
New Home Sales Continue Rise
New home sales increased to 372,000 per year on a seasonally-adjusted annual basis in July, which ties the revised May 2012 rate for the highest level since the end of the home buyer tax credit in early 2010. Monthly data does have more statistical variations so looking at a quarterly moving average shows sales have been increasing since September 2011…. Read More ›
Existing Home Sales Increase, Median Sales Price Declines
Existing home sales increased 2.3 percent from June, and are up 10.4 percent from the same period a year ago. The National Association of Realtors (NAR) reported July 2012 total existing home sales were at a seasonally adjusted rate of 4.47 million combined for single-family homes, townhomes, condominiums and co-ops. That compares to 4.05 million units from the same period… Read More ›
Occupants Say Newer Homes are Better Insulated, Less Drafty
The Residential Energy Consumption Survey (RECS, produced by the Energy Information Agency in the U.S. Department of Energy) collects information on various housing characteristics, including the age of the structures. Although the actual energy consumption data has not yet been released, a RECS data set containing a considerable amount of ancillary, related information is available. For example, answers are available to… Read More ›
Apartment Production Up Strongly Year Over Year
The Census Bureau’s preliminary estimate for starts in buildings with five or more apartments in July came in at 229,000 units (at a seasonally adjusted annual rate), up 9.6 percent from the revised figure for June (revisions to the May and June numbers were minor). The 3-month moving average has been very stable, hovering between 205,000 and 210,000 for the past… Read More ›
Builder Confidence in the 55+ Market Improves in the Second Quarter
According to NAHB’s latest 55+ Housing Market Index (HMI) survey, builder confidence in the market for new 55+ single-family homes increased significantly in the second quarter of 2012. Compared to the same period a year ago, the 55+HMI for new single-family homes more than doubled from 13 to 29. (Because the survey results are not yet seasonally adjusted, numbers should only be compared year-over-year.)… Read More ›
Eye on the Economy: Will Housing Lead or Follow in a Slow-Growth Economy?
*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. Job creation and economic growth have been weak in 2012. While gross domestic product (GDP) and total employment have expanded, their respective rates of growth have been disappointing given the high unemployment and prior… Read More ›
The Geography of the Age of the Housing Stock
In January, Eye on Housing took a look at the age of the housing stock. In that analysis, we found that according to the 2009 American Housing Survey (AHS), the median age of owner-occupied homes in the United States is 34 years old, 11 years older than the median age found in the 1985 AHS. So it is clear that the… Read More ›