Economics

Remodelers’ Confidence Falls Three Points in First Quarter

Filed in Economics, Remodelers by on April 18, 2019 0 Comments
Remodelers’ Confidence Falls Three Points in First Quarter

NAHB’s Remodeling Market Index (RMI) posted a reading of 54 in the first quarter of 2019, falling three points from the previous quarter. The RMI has been consistently above 50 — indicating that more remodelers report market activity is higher compared to the prior quarter than report it is lower — since the second quarter of 2013. The overall RMI averages current remodeling activity and future indicators.

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Small vs. Large Homes: How Do Major Living Spaces Stack Up?

Filed in Design, Economics, Housing Trends by on April 16, 2019 0 Comments
Small vs. Large Homes: How Do Major Living Spaces Stack Up?

A new study from NAHB measures the amount of space of each room in the average new home, and compares percentages of square footage based on the size of the home.

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Builder Confidence Edges Higher in April

Filed in Economics by on April 16, 2019 0 Comments
Builder Confidence Edges Higher in April

Builder confidence in the market for newly-built single-family homes rose one point to 63 in April, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released today. Sentiment levels have held in the low 60s for the past three months.

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New Definitions Released for Metropolitan Statistical Areas and Divisions

Filed in Economics by on April 11, 2019 0 Comments
New Definitions Released for Metropolitan Statistical Areas and Divisions

Based on information from the latest American Community Survey, the Office of Management and Budget issued updated definitions for 45 Metropolitan Statistical Areas and Metropolitan Divisions. It will likely be about a year before the metropolitan-based system of income limits and fair market rents are affected by these changes.

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How Does Your Business Measure Up?

Filed in Economics, Home Building by on April 5, 2019 2 Comments
How Does Your Business Measure Up?

Industry benchmarks on profit margins, asset levels and equity positions are important because they allow businesses to compare their performance to their peers. That can be extremely helpful in identifying areas for improvement and increasing efficiencies.

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Lower Mortgage Rates Bolster Market Activity

Filed in Economics, Housing Finance by on April 3, 2019 0 Comments
Lower Mortgage Rates Bolster Market Activity

Mortgage rates dropped for the third straight month in February, with the 30-year fixed-rate mortgage (FRM) commitment rate decreasing to 4.37% from 4.46% in January. As a result, lending interest has increased, as more borrowers are likely to be eligible.

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NAHB Chief Economist Testifies on Housing Affordability at Massachusetts Legislature

Filed in Affordability, Economics, Homeownership by on April 2, 2019 0 Comments
NAHB Chief Economist Testifies on Housing Affordability at Massachusetts Legislature

NAHB Chief Economist Robert Dietz told Massachusetts state policymakers today that growing affordability challenges for renters and home buyers stemming from years of underproduction and rising regulatory costs associated with land development and home building are having negative economic repercussions

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Solid Growth for New Homes Sales

Filed in Economics by on March 29, 2019 0 Comments
Solid Growth for New Homes Sales

Sales of newly built, single-family homes rose to a seasonally adjusted annual rate of 667,000 units in February. This is the highest sales pace since March 2018.

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February Housing Starts Down After Single-Family Surge in January

Filed in Economics by on March 26, 2019 0 Comments
February Housing Starts Down After Single-Family Surge in January

Total housing starts fell 8.7% in February to a seasonally adjusted annual rate of 1.16 million units from an upwardly revised reading in January, according to a report from the U.S. Housing and Urban Development and Commerce Department. The overall lower starts numbers are somewhat deceiving given the revised single-family starts figure in January was at a post-recession high.

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Fed Action Bodes Well for Mortgage Rates

Filed in Economics, Housing Finance by on March 25, 2019 0 Comments
Fed Action Bodes Well for Mortgage Rates

The Federal Reserve’s decision last week to hold short-term interest rates steady, along with two other key announcements by the central bank, should reduce upward pressure on mortgage interest rates for the foreseeable future.

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