Economics

New Home Sales Trend Higher in November

Filed in Economics by on December 23, 2019 0 Comments
New Home Sales Trend Higher in November

Sales of newly built, single-family homes increased 1.3% to a seasonally adjusted annual rate of 719,000 units in November, off a downwardly revised October reading, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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Number of Unfilled Construction Jobs Remains High Despite Some Progress

Filed in Economics by on December 20, 2019 0 Comments
Number of Unfilled Construction Jobs Remains High Despite Some Progress

The estimated number of construction jobs open in October was 311,000, down from a September total of 327,000 and April’s post-Great Recession high of 434,000, according to the latest U.S. BLS JOLTS data.

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Single-Family Starts Increase in November

Filed in Economics by on December 17, 2019 0 Comments
Single-Family Starts Increase in November

Total housing starts increased 3.2 percent in November to a seasonally adjusted annual rate of 1.37 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department.

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Builder Confidence Climbs to a 20-Year High

Filed in Economics by on December 16, 2019 3 Comments
Builder Confidence Climbs to a 20-Year High

Builder confidence in the market for newly-built single-family homes increased five points to 76 in December off an upwardly revised November reading, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released today. This is the highest reading since June 1999.

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Single-Family Market Grateful for Lower Rates

Filed in Economics by on December 4, 2019 0 Comments
Single-Family Market Grateful for Lower Rates

The single-family housing market rebound continues, largely thanks to lower mortgage interest rates. Because of the lower cost of home buying, most housing metrics have improved in recent months.

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Most Home Building in Millennial Areas, But Pace Lags Rest of Nation

Filed in Economics, Housing Trends by on December 3, 2019 0 Comments
Most Home Building in Millennial Areas, But Pace Lags Rest of Nation

The majority of single-family and multifamily housing production in the nation is occurring in counties with the greatest concentration of millennials. However, in a warning sign that the housing affordability crisis persists and more construction is needed, the pace of housing production in areas with the greatest concentration of millennials lags the rest of the nation, according to the latest quarterly NAHB Home Building Geography Index (HBGI).

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Home Prices Continue to Rise with Strong Demand and Tight Inventory

Filed in Affordability, Economics by on December 2, 2019 3 Comments
Home Prices Continue to Rise with Strong Demand and Tight Inventory

National home prices rose at a faster annual growth rate in September compared to the previous month.

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Setting the Facts Straight on a ‘Tidal Wave’ of Boomer Homes to Hit the Market by 2037

Filed in Economics, Housing Trends by on November 26, 2019 2 Comments
Setting the Facts Straight on a ‘Tidal Wave’ of Boomer Homes to Hit the Market by 2037

A recent Wall Street Journal story that was picked up by Fox News ran with a sensational – and misleading – headline: “Baby boomers may put ‘tidal wave’ of 21 million homes on market – but who will buy them?”

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New Home Sales Post Strong Pace in October

Filed in Economics by on November 26, 2019 1 Comment
New Home Sales Post Strong Pace in October

Sales of newly built, single-family homes decreased 0.7% to a seasonally adjusted annual rate of 733,000 units in October, off strong upward revisions to the September reading, 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, new home sales for 2019 are 9.6% higher than the same period in 2018.

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New Single-Family Homes are Getting Smaller

Filed in Economics, Housing Trends by on November 25, 2019 0 Comments
New Single-Family Homes are Getting Smaller

New single-family home size trended lower in the third quarter of 2019, a pattern from recent years that is likely to continue as builders add more entry-level homes into inventory and the custom market levels off, according to NAHB Chief Economist Robert Dietz.

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