Housing’s share of the economy moved lower at the end of the first quarter of 2023. Overall GDP increased at a 1.1% annual rate, following a 2.6% increase in the fourth quarter of 2022 and 3.2% increase in the third quarter of 2022. Despite overall GDP increasing, housing’s share of GDP decreased to 15.8%, below the 2022 fourth quarter share… Read More ›
Tag Archive for ‘homebuilding’
Housing Share of GDP Lower in the Fourth Quarter of 2022
Housing’s share of the economy edged lower at the end of the fourth quarter of 2022. This is the second straight quarter where GDP increased in 2022, with overall GDP increasing at a 2.9% annual rate, following a 3.2% increase in the third quarter and 0.6% decrease in the second quarter. However, due to higher interest rates, housing’s share of… Read More ›
Housing Share of GDP Continues to Decrease
Housing’s share of the economy edged lower at the end of the third quarter of 2022. This is the first quarter where GDP increased for 2022, with overall GDP increasing at a 2.6% annual rate, following a 0.6% decrease in the second quarter and 1.6% decrease in the first quarter. However, due to higher interest rates, housing’s share of GDP… Read More ›
NAHB 4th Quarter HBGI: Suburban Shift for Construction in 2020
The suburban shift in home building to meet growing buyer preferences for lower density, lower cost markets stemming from the COVID-19 pandemic that was first reported in the second quarter National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) has continued throughout the rest of 2020. Single-family construction continued to overperform in suburbs, exurbs and rural communities, according… Read More ›
Share of 2017 New Single-Family Houses in a Homeowners’ Association
According to data from the Census Bureau’s Survey of Construction (SOC), the share of completed new homes administered by homeowners’ associations varies by region, ranging from 68% in the West to 29% in the Northeast. The Census Bureau defines community or homeowners’ associations as “formal legal entities created to maintain common areas of a development and to enforce private deed restrictions;… Read More ›
Slightly Longer Hours Worked Makes Up For Faster Inflation
The Bureau of Labor Statistics (BLS) reported that, on a seasonally adjusted basis, headline consumer prices, grew over the month of June, but at a slower pace than in May. The monthly slowdown partly reflected a decline in energy prices, electricity and utility (piped) gas specifically, although food prices accelerated over the month. Excluding energy and food prices, “core” inflation held… Read More ›
Banks See Weaker Demand for Business and CRE Loans
The Federal Reserve Board’s Senior Loan Officer Opinion Survey showed that lending standards on commercial and industrial (C&I) loans eased over the first quarter of 2018. At the same time, lending standards on commercial real estate (CRE) loans tightened, but at a slower pace than last quarter. Importantly a net share of banks noted that demand for both C&I and… Read More ›
Nation’s Economy Grows in the First Quarter
In its first or “advance” estimate, the Bureau of Economic Analysis (BEA), reported that the nation’s economy, as measured by real gross domestic product (GDP), rose by 2.3 percent on a seasonally adjusted annual rate basis in the first quarter of 2018. This is the second consecutive quarter in which growth slowed. However, this is the fourth consecutive quarter in which… Read More ›
Senior Loan Officer Survey As A Barometer of the Economy
Lending standards on business loans to large and medium-sized firms eased on net over the second quarter of 2017 according to the Federal Reserve Board’s Senior Loan Officer Opinion Survey. Historical evidence has shown that lending standards on business loans to these establishments is correlated with both the growth in the stock of business loans held by banks and with… Read More ›
Pending Sales Inch Up
The Pending Home Sales Index was virtually unchanged in December, but has increased year-over-year for 16 consecutive months. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 0.1% in December to 106.8 from a downwardly revised 106.7 November, and was 4.2% above the same month a year… Read More ›