Economics

New Home Sales Decline in May

Filed in Economics by on June 25, 2019 0 Comments
New Home Sales Decline in May

Sales of newly built, single-family homes fell 7.8% to a seasonally adjusted annual rate of 626,000 units in May, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. On a year-to-date basis however, new home sales for 2019 are 4% higher than the same period in 2018.

Continue Reading »

Housing Starts Relatively Flat Off of Strength in Multifamily Sector

Filed in Economics by on June 18, 2019 1 Comment
Housing Starts Relatively Flat Off of Strength in Multifamily Sector

Total housing starts declined 0.9% in May to a seasonally adjusted annual rate of 1.27 million units from an upwardly revised reading in April, according to a report from the U.S. Housing and Urban Development and Commerce Department.

Continue Reading »

Builder Confidence Solid in June Amidst Growing Economic Uncertainty

Filed in Economics by on June 17, 2019 2 Comments
Builder Confidence Solid in June Amidst Growing Economic Uncertainty

Builder confidence in the market for newly-built single-family homes fell two points to 64 in June, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released today. Sentiment levels have held at a solid range in the low- to mid-60s for the past five months.

Continue Reading »

A Top Barrier to Homeownership May Be Easing

A Top Barrier to Homeownership May Be Easing

A recent Eye on Housing blog post revealed that 53% of buyers actively searching for a home to buy in the first quarter of 2019 have been looking unsuccessfully for at least three months. View the top reasons why is it taking these buyers so long to pull the trigger.

Continue Reading »

Unfilled Construction Jobs at Post-Recession High

Unfilled Construction Jobs at Post-Recession High

The estimated number of job openings in the construction sector increased to 404,000 in April, a post-Great Recession high, according to the latest figures from the Bureau of Labor Statistics Job Openings and Labor Turnover Survey.

Continue Reading »

New Home Building Geography Index Shows Single-Family Growth Limited to Exurbs

Filed in Economics by on May 28, 2019 5 Comments
New Home Building Geography Index Shows Single-Family Growth Limited to Exurbs

In a sign that housing affordability is becoming a growing issue nationwide, as of the first quarter of 2019 exurbs were the only region that registered single-family permit growth on a year-over-year basis, according to the new NAHB Home Building Geography Index (HBGI).

Continue Reading »

New Home Sales Post Solid Rate of 673,000 in April

Filed in Economics by on May 23, 2019 1 Comment
New Home Sales Post Solid Rate of 673,000 in April

Sales of newly built, single-family homes fell 6.7% to a seasonally adjusted annual rate of 673,000 units in April after a sharp upwardly revised March report, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The March sales pace of 723,000 units was the highest monthly rate since the Great Recession and the April figure was the third-highest pace.

Continue Reading »

Confidence in Apartment and Condo Housing Sectors Weakens in First Quarter 2019

Filed in Economics, Multifamily by on May 23, 2019 0 Comments
Confidence in Apartment and Condo Housing Sectors Weakens in First Quarter 2019

Confidence in the market for new multifamily housing weakened in the first quarter of 2019, according to results from the Multifamily Market Survey released today by NAHB.

Continue Reading »

NAHB Statement on Trade Developments with Mexico and Canada

Filed in Economics, Trade by on May 17, 2019 0 Comments
NAHB Statement on Trade Developments with Mexico and Canada

NAHB commends President Trump for removing tariffs on steel and aluminum imports from Canada and Mexico. This will provide momentum for Congress to ratify the United States-Mexico-Canada Agreement, which holds the potential to lift the housing economy.

Continue Reading »

Townhouse Construction Slows at Start of 2019

Filed in Economics by on May 17, 2019 0 Comments
Townhouse Construction Slows at Start of 2019

Townhouse construction slowed during the first quarter of 2019 after a strong 2018 performance, according to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design.

Continue Reading »