Economics

Remodelers Riding Wave of Steady Optimism

Filed in Economics, Remodelers by on January 19, 2017 1 Comment
Remodelers Riding Wave of Steady Optimism

The remodeling market has enjoyed a solid stretch of growth since 2011. And despite economists forecasting that growth will likely become more gradual in the years ahead, there remains a sense of confidence among most remodelers.

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Housing Production Up 11.3% in December on Multifamily Surge

Filed in Economics, Home Building, Multifamily by on January 19, 2017 0 Comments
Housing Production Up 11.3% in December on Multifamily Surge

A surge in multifamily production resulted in overall nationwide housing starts rising 11.3% to a seasonally adjusted annual rate of 1.23 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Single-family starts dropped 4% to a seasonally adjusted annual rate of 795,000 units.

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Builder Confidence Holds Firm in January

Filed in Economics by on January 18, 2017 0 Comments
Builder Confidence Holds Firm in January

Builder confidence in the market for newly-built single-family homes remained on firm ground in January, down two points to a level of 67 from a downwardly revised December reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

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Buyers Prefer Amenities Over Size in New Homes, Survey Shows

Buyers Prefer Amenities Over Size in New Homes, Survey Shows

The average size of newly built homes decreased in 2016 – a sign that the home building industry is preparing for the coming wave of first-time buyers as Millennials begin to dip their toes into the market, according to research and survey results released today by NAHB.

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Remodeling Market Might Ease Off the Gas

Filed in Business Management, Economics, Remodelers by on January 10, 2017 0 Comments
Remodeling Market Might Ease Off the Gas

Now that spending is back up and consumers are increasingly interested in buying new (or new-er) homes, remodeling expenditures are likely to grow at a more gradual pace than in recent years, according to NAHB economists. That means remodelers will have to identify new ways to maintain their share of the market.

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Housing Will Continue Gradual Climb to Higher Ground in 2017

Filed in Economics, International Builders' Show by on January 10, 2017 2 Comments
Housing Will Continue Gradual Climb to Higher Ground in 2017

Fueled by a growing economy, solid employment gains and rising household formations, single-family production will continue on a gradual, upward trajectory in 2017, according to economists speaking at the NAHB International Builders’ Show in Orlando, Fla. today.

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Conventional Mortgages Riding High

Filed in Economics, Home Building, Housing Finance by on December 27, 2016 0 Comments
Conventional Mortgages Riding High

The share of mortgages financed through conventional products in the third quarter of 2016 rose to 74.1%, the highest level seen since 2008.

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New Home Sales Up 5.2% in November

Filed in Economics by on December 23, 2016 0 Comments
New Home Sales Up 5.2% in November

Sales of newly built, single-family homes rose 5.2% in November to a seasonally adjusted annual rate of 592,000 units, according to newly released data by HUD and the U.S. Census Bureau.

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Multifamily Weakness Pushes Housing Starts Down 18.7% in November

Filed in Economics, Home Building by on December 16, 2016 0 Comments
Multifamily Weakness Pushes Housing Starts Down 18.7% in November

A sharp decline in multifamily starts pushed overall housing production down 18.7% in November to a seasonally adjusted annual rate of 1.09 million units, according to newly released data from HUD and the Commerce Department. Overall permit issuance was also down 4.7%. “Year-to-date, single-family starts are up 9.6% and the overall trend in this sector […]

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Fed Raises Interest Rates

Filed in Economics by on December 15, 2016 0 Comments
Fed Raises Interest Rates

For just the second time since the Great Recession, the Federal Reserve increased its target for the federal funds rate by 25 basis points. While still low, rates are likely to continue a gradual ascent in the years ahead. The current outlook is for three additional rate hikes in 2017.

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