Tag Archive for ‘multifamily’

Private Residential Construction Spending Surges in April

Today’s construction spending release from the Census Bureau revealed a strong 2.8 percent jump in spending on private residential projects during April 2012. The initial estimates for February and March were revised from -2.2% and 0.7% to 0.1% and 0.4%, respectively. Overall, private residential construction spending has increased in each of the last 9 months. New single-family construction activity continued… Read More ›

Eye on the Economy: Improvement for Housing

*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. After soft economic and housing reports for February and March, recent data suggest a return to the trend of housing market improvement – a fitting theme for May, National Home Remodeling month. Leading the… Read More ›

Five-Plus Starts Sustain Longest Stretch Above 200K Since 2008

In April, the (seasonally adjusted) annual rate of starts in buildings with five or more apartments increased by 4 percent from the revised figure for March, to 217,000.  However, the biggest multifamily news in the latest release from the Census Bureau’s Manufacturing and Construction Division lies in the revisions to previous numbers.  The five-plus starts rate for February was revised upward by 8… Read More ›

Falling Energy Prices Weigh on CPI

The Bureau of Labor Statistics reported today that the Consumer Price Index for All Urban Consumers (CPI-U) was unchanged between March and April 2012. Energy prices played a major role once again in shaping the CPI’s trajectory, but this month it put downward pressure on the overall CPI as the CPI for energy slumped 1.7 percent versus March. Gasoline accounted… Read More ›

Private Residential Construction Spending Increases in March

The Census Bureau’s newest report on construction spending showed a 0.7 percent jump in spending activity on private residential projects in March 2012. Initial estimates for January and February were revised from earlier readings of -0.1% and generally unchanged to an increase of 0.5% and a drop of 2.2%, respectively. The new single-family component for construction spending gained 3.8 percent… Read More ›

Homeownership Rate Drops to Lowest Point in 15 Years

After hovering around 66 percent in each of the last three quarters, the Census Bureau reported the seasonally adjusted homeownership rate fell to 65.5 percent during the first quarter of 2012. With this latest decline, the homeownership rate has slipped nearly 4 percentage points from its peak during the mid-2000s and its current level marks the lowest reading since 1997…. Read More ›

Multifamily Starts Slow in March, but Permits Increase

In March, the (seasonally adjusted) annual rate of starts in buildings with five or more apartments was 178,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is a 20 percent decrease from the February starts rate (which was revised downward slightly) but is nearly 9% higher than the March 2011 rate.  And the long-run trend continues… Read More ›

Energy Prices Continue to Push CPI Higher

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% on a month-to-month basis during March 2012. Once again, energy prices boosted the topline reading on the month-to-month change in price levels, as the CPI for energy jumped 0.9%, after registering a 3.2% increase in February. Retail gasoline prices averaged $3.91 nationally (across all formulations) in March, surging 7.4%… Read More ›

Private Residential Construction Holds Steady in February

The Census Bureau reported that private residential construction spending was essentially unchanged between January and February 2012. However, the initial readings for December and January were revised appreciably lower, respectively, to an increase of 0.4% and a slight decline in spending of -0.1% (versus previous estimates of 1.5% and 1.8%). In concert with other indicators such as new housing starts,… Read More ›

Starts, Permits Indicate Relative Health of the Multifamily Sector

In February, the (seasonally adjusted) annual rate of starts  in buildings with five or more apartments was 233,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is a 29 percent increase from the January starts rate  (which was revised upward slightly) and more than double the starts rate for February 2011.   Although a rate of… Read More ›