Tag Archive for ‘remodeling’

Pending Sales Break Losing Streak

The Pending Home Sales Index increased for the first time since February and investors retreated, giving first-time buyers a better chance to enter the market. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 110.2 in June, up 1.5% from an upwardly revised 108.6 in May,… Read More ›

June Existing Sales Slow

Existing home sales decreased 1.8 % in June, but remain 0.7% above the pace a year ago. Some 54% of homes sold last month were on the market less than a month as buyers overcame low inventory and higher prices. June inventory declined 0.5%, and remains 7.1% lower than a year ago, having fallen year-over-year for the 25th consecutive month…. Read More ›

How a Home Purchase Boosts Consumer Spending

Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics research shows that a home purchase triggers additional spending on appliances, furnishings, and remodeling. NAHB’s most recent estimates are based on the 2012-2014 data and show that during the first two years after closing on the house, a typical buyer of a newly-built single-family… Read More ›

Pending Sales Slide for Third Consecutive Month

The Pending Home Sales Index decreased for the third month in a row, and annually for the second year in a row. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 108.5 in May, down 0.8% from a downwardly revised 109.4 in April, and down 1.7%… Read More ›

May Buyers Rush Past Market Challenges

Existing home sales increased 1.1% in May, and 55% of homes sold last month were on the market less than a month as buyers overcame low inventory and higher prices. Although May inventory increased 2.1%, it remains 8.4% lower than a year ago and fell year-over-year for the 24th consecutive month. The National Association of Realtors (NAR) reported that at… Read More ›

Private Residential Construction Spending Slows in April

NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $522.2 billion in April, 0.7% lower than upwardly revised March estimates. The private residential construction spending slowed down after a strong start this year. However, it was still 16.7% higher than a year ago. The monthly declines… Read More ›

Posts for National Home Remodeling Month

May is National Home Remodeling Month, and Eye on Housing recognized the occasion with a series of posts related to the topic.  As the month draws to a close, below is a summary list of those posts for anyone who may have missed them: Remodeling in 2016: Kitchens Reclaim Top Spot from Baths  May 5, 2017 Desire for New Amenities:… Read More ›

Pending Sales Slump

The Pending Home Sales Index decreased 1.3% in April for a second consecutive monthly decline, and fell 3.3% below its level a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 109.8 in April, down from a revised 111.3 in March. The PHSI decreased… Read More ›

NAHB Releases Remodeling by Zip Code Estimates for 2017

NAHB recently released its latest projections of spending on improvements to owner-occupied housing by zip code. The projections show total spending on improvements, the number of owner-occupied homes, as well as average spending per improvement, in each of over 26,000 zip codes for calendar year 2017. The estimates are based on a model relating improvement spending to five key variables:… Read More ›

April Buyers Chafe at Supply Constraints

Existing home sales declined 2.3% in April as inventory fell year-over-year for the 23rd consecutive month, while the velocity of sales increased to the highest level since the National Association of Realtors (NAR) began tracking the monthly sales timeframe.  At the current sales rate, the April unsold inventory represents a 4.2-month supply, up from the March 3.8-month supply, but down… Read More ›