Tag: Eye on Housing

Housing Starts Up Sharply, Near Post-Recession High in October

Filed in Economics, Home Building by on November 17, 2017 0 Comments
Housing Starts Up Sharply, Near Post-Recession High in October

Nationwide housing starts rose 13.7% in October to a seasonally adjusted annual rate of 1.29 million units after a slight upward revision to the September reading, according to newly released data from HUD and the Commerce Department. This is the highest housing production reading since October 2016, when total starts hit a post-recession high of 1.33 million.

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Labor and Material Costs Rising Faster Than Lot Prices

Filed in Economics, Land Development by on October 26, 2017 3 Comments
Labor and Material Costs Rising Faster Than Lot Prices

Despite the record-high prices for single-family lots, the average portion of the final sales price of a new single-family home attributed to the cost of the lot is actually decreasing. But that isn’t exactly good news.

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Housing Industry Could Get ‘Choppy’ in the Months Ahead

Filed in Economics by on October 6, 2017 1 Comment
Housing Industry Could Get ‘Choppy’ in the Months Ahead

Despite ongoing positive market conditions, recent home sales data have come in below expectations. And the economic impacts of hurricanes Harvey and Irma will surface in the months ahead.

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Drywall Prices Expected to Rise

Filed in Disaster Response, Economics by on September 15, 2017 0 Comments
Drywall Prices Expected to Rise

While most building materials prices will likely increase in the wake of hurricanes Harvey and Irma, the price for gypsum might be the first to ascend as a result of the storms.

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New Single-Family Homes Getting Smaller

Filed in Economics by on August 25, 2017 1 Comment
New Single-Family Homes Getting Smaller

Bigger isn’t always better. In fact, when it comes to the average and median size of new homes, smaller homes could mean more sales.

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Builder Confidence Springs Back with 4-Point August Jump

Filed in Economics, Home Building by on August 15, 2017 0 Comments
Builder Confidence Springs Back with 4-Point August Jump

The NAHB/Wells Fargo Housing Market Index rose four points in August to 68. “Our members are encouraged by rising demand in the new-home market,” said NAHB Chairman Granger MacDonald. “This is due to ongoing job and economic growth, attractive mortgage rates and growing consumer confidence.”

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Higher Loan Limits a Catalyst for Home Sales

Filed in Economics, Homeownership, Housing Finance by on July 31, 2017 0 Comments
Higher Loan Limits a Catalyst for Home Sales

Affordability is a top concern for more home shoppers. That’s why last year NAHB helped push for higher limits on single-family loans. Increasing the limits has resulted in lower borrowing costs for home buyers, and helped spur home sales thus far in 2017.

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Almost 80,000 Starts Last Year were Tear-Downs

Filed in Home Building, Housing Trends by on July 31, 2017 0 Comments
Almost 80,000 Starts Last Year were Tear-Downs

The Census Bureau doesn’t specifically track new homes constructed on sites where a previous residence was torn down or where there is evidence of a previous residential structure. To fill the data void, NAHB polled members earlier this year about tear-downs via its monthly NAHB/Wells Fargo Housing Market Index survey.

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Lumber Shortages Encumber More Builders

Filed in Economics by on July 12, 2017 0 Comments
Lumber Shortages Encumber More Builders

Home builders across the country were getting hammered by skyrocketing lumber prices earlier this year. And now, more of them are reporting lumber supply shortages, too. More than 1 in 5 single-family builders say they are experiencing a shortage of framing lumber.

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Home Buying a Strong Boost to Overall Economy, NAHB Study Shows

Filed in Economics, Home Building by on July 6, 2017 1 Comment
Home Buying a Strong Boost to Overall Economy, NAHB Study Shows

In their first year of ownership, new home buyers spend about $10,601 on appliances, furnishings and home improvement projects — 2.6 times as much as other home owners in a typical year.

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