Eye On Housing
Existing-home sales increased 3.0% in February, but the first-time buyer share remained at 29%, compared to 31% a year ago. The National Association of Realtors reported that 46% of homes sold last month were on the market less than a month. The February inventory increased 4.6%, but remains 8.1% below the level a year ago, and has decreased for 33… Read More ›
The Pending Home Sales Index decreased 4.7% in January to the lowest level since October 2014. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI fell to 104.6 in January from a downwardly revised 109.8 in December. The PHSI decreased in all four regions, ranging… Read More ›
Existing-home sales decreased 3.2% in January, and the first-time buyer share slipped to 29% from 32% last month. The National Association of Realtors reported that 43% of homes sold last month were on the market less than a month. The January inventory actually increased 4.1%, but is 9.5% below the level a year ago, and has decreased for 32 consecutive… Read More ›
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.5% in December to a seasonally adjusted annual rate of $526.1 billion, the highest level since March 2007. Total private residential construction spending rose 6.2% last year, after increasing 12.5% in 2016. The monthly gains are largely attributed to the increase in multifamily construction spending…. Read More ›
Existing-home sales decreased 3.6% in December, but the first-time buyer share rebounded to 32% from 29% last month. The National Association of Realtors reported that existing sales for all of 2017 increased 1.1% from the previous year, and was the best year for sales in 11 years. Some 44% of homes sold last month were on the market less than… Read More ›
The Remodeling Market Index (RMI) increased three points to 60 in the fourth quarter of 2017, according to the National Association of Home Builders (NAHB). This quarter marks the second time in the RMI’s history (dating back to 2001) in which the index reached 60 (Figure 1). For 19 consecutive quarters, the RMI has been at or above 50, which… Read More ›
The Pending Home Sales Index increased slightly by 0.2% in November, and is 0.8% above a year ago. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI increased 4.1% in the Northeast and 0.4% in the Midwest, but decreased 0.4% in the South and 1.8%… Read More ›
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1% in November to a seasonally adjusted annual rate of $530.8 billion. It was the highest level since February 2007. Total private residential construction spending was 7.9% higher than a year ago. The monthly gains are largely attributed to the strong growth of spending on… Read More ›
November existing sales embraced an end of the year rally, increasing 5.6% to the highest level since December 2006; but the first-time buyer share of 29% continued to disappoint. The National Association of Realtors reported 44% of homes sold last month were on the market less than a month, a slightly slower pace than the 47% last month. The November… Read More ›
The Pending Home Sales Index increased 3.5% in October as the South recovered from the impact of Hurricanes Harvey and Irma. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), remains 0.6% below the level a year ago. The PHSI jumped 7.4% in the South, and also increased… Read More ›