National Association of Home Builders

Eye On Housing National Association of Home Builders Discusses Economics and Housing Policy

  • Rates Tick Down in March
    by Michael Neal on April 28, 2017 at 3:00 pm

    Following 4 consecutive monthly increases, results from the Mortgage Interest Rate Survey (MIRS) released by the Federal Housing Finance Agency (FHFA) indicate that mortgage rates fell in March 2017*. Over the month, contract rates on mortgages used to purchase single-family newly constructed homes declined by 6 basis points to 4.12 percent. Despite the decline, rates remain above the low of 3.54 percent in... Read More &rsaquo […]

  • Homeownership Rate Stable
    by Na Zhao on April 27, 2017 at 5:48 pm

    According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate was 63.6% in the first quarter 2017, which is statistically no different from its last quarter reading of 63.7%. The rate of homeownership appears to be stabilizing after reaching a cycle low of 62.9% in the second quarter of 2016. Compared to the peak at the end... Read More &rsaquo […]

  • Pending Sales Pause
    by Stephen Melman on April 27, 2017 at 2:43 pm

    The Pending Home Sales Index decreased 0.8% in March 2017, but remains 0.8% above its level a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 111.4 in March, down from 112.3 in February. The PHSI increased in the South by 1.2%, but fell... Read More &rsaquo […]

  • Consumer Confidence Declined in April
    by Jing Fu on April 26, 2017 at 5:33 pm

    After hitting a post-recession high, the consumer confidence index, reported by the Conference Board, declined in April. Consumers were less optimistic about both the current situation and the near term outlook, compared with last month. The Consumer Confidence Index declined to 120.3 in April, from 124.9 in March. Both the present situation index and the expectations index dropped. The present... Read More &rsaquo […]

  • House Price Gains Continued in February
    by Jing Fu on April 25, 2017 at 4:15 pm

    S&P Dow Jones Indices released the Home Price Index for February. House prices surpassed the pre-recession peak of 2006 and hit the highest level with a more moderate annual growth rate. The Case-Shiller U.S. National Home Price Index rose at a seasonally adjusted annual growth rate of 5.2% in February, slower than the previous six months. House price appreciation reached... Read More &rsaquo […]

  • Strong March for New Home Sales
    by Robert Dietz on April 25, 2017 at 3:21 pm

    Contracts for new home sales expanded by 5.8% in March, according to estimates from the joint data release of HUD and the Census Bureau. The growth in sales continues along a positive trend for the market, which is supported by solid job growth, improving household formations, continuing favorable housing affordability conditions, and tight existing home inventory. The seasonally adjusted annual pace for March new single-family... Read More &rsaquo […]

  • Impact of the Duty on Canadian Lumber Announced April 25
    by Paul Emrath on April 25, 2017 at 2:05 pm

    On April 25, the Department of Commerce levied a 19.88% duty rate against Canadian softwood lumber exports to the United States. Due to “special circumstances,” the duties will be retroactive 90 days from the date that the rates are officially published in the Federal Register, likely back to the beginning of February. Five Canadian lumber producing companies will face specific... Read More &rsaquo […]

  • USDA Single Family Programs: Trends in Loans for Newly Constructed Homes
    by Michael Neal on April 24, 2017 at 4:30 pm

    A recent NAHB study tracks trends in loans for new construction obligated under the USDA Single-family programs, the Section 502 Direct Loan Program and the Section 502 Guaranteed Loan Program. The report finds that, similar to the Federal Housing Administration’s single-family loan program, the USDA programs supported homeownership at a time when obtaining a conventional loan became increasingly difficult. However,... Read More &rsaquo […]

  • March Sales Roar Like a Lion
    by Stephen Melman on April 21, 2017 at 3:47 pm

    Existing home sales, as reported by the National Association of Realtors (NAR), surged 4.4% in March to the highest pace in ten years. At the current sales rate, the March unsold inventory represents a 3.8-month supply, unchanged from February. March existing sales were up 5.9% from the same month a year ago, and reached a seasonally adjusted rate of 5.71... Read More &rsaquo […]

  • Increase in Remodeling Market Index Reflects Broad-Based Confidence
    by Carmel Ford on April 20, 2017 at 2:05 pm

    The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 58 in the first quarter of 2017, up five points from the previous quarter. This reading is the highest since the fourth quarter of 2015 (Figure 1). A RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter)... Read More &rsaquo […]


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