National Association of Home Builders

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

  • Pending Sales Slide for Third Consecutive Month
    by Stephen Melman on June 28, 2017 at 2:46 pm

    The Pending Home Sales Index decreased for the third month in a row, and annually for the second year in a row. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 108.5 in May, down 0.8% from a downwardly revised 109.4 in April, and down 1.7%... Read More &rsaquo […]

  • Consumer Confidence in June – Optimistic but Cautious Consumers
    by Jing Fu on June 28, 2017 at 12:12 pm

    The Consumer Confidence Index, released by the Conference Board, rose in June. Consumers were quite optimistic about current conditions, but less optimistic about the near term outlook than in May. The Consumer Confidence Index increased to 118.9 in June, from 117.6 in May. The present situation index rose from 140.6 to 146.3 while the expectations index decreased from 102.3 to... Read More &rsaquo […]

  • Home Prices in April – Slowing Growth
    by Jing Fu on June 27, 2017 at 6:19 pm

    The S&P/Case-Shiller and the Federal Housing Finance Agency (FHFA) released their respective home price indices for April. National home prices increased at a more moderate annual growth rate, while local home price gains varied. The Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 2.0% in April, down... Read More &rsaquo […]

  • Community Banks Account for Nearly Half of Residential Construction Loans
    by Michael Neal on June 27, 2017 at 3:30 pm

    Residential construction loans held on FDIC-insured banks’ balance sheets reached $70.7 billion in the first quarter of 2017 with community banks accounting for approximately 49 percent of these loans. The current share of residential construction loans held by community banks is higher than community banks’ share of other types of loans, with the exception of farm-related loans. However, in recent... Read More &rsaquo […]

  • Duties on Lumber Now Enough to Threaten Thousands of U.S. Jobs
    by Paul Emrath on June 27, 2017 at 12:05 pm

    In a previous post, NAHB analyzed the effect of the 19.88% countervailing duty (CVD) levied by the Department of Commerce on Canadian softwood lumber exported to the United States.  The NAHB analysis showed that, had that duty been in effect throughout 2017, the effects would include a net loss of 8,241 full-time U.S. jobs. On June 26, the Department of... Read More &rsaquo […]

  • May Gains for New Home Sales
    by Robert Dietz on June 23, 2017 at 3:09 pm

    Contracts for new home sales expanded by 2.9% in May to a 610,000 seasonally adjusted annual rate, according to estimates from the joint data release of HUD and the Census Bureau. The report also noted a strong upward revision for the April rate of sales, increasing from a 569,000 annual pace to 593,000. The growth in sales continues along a positive trend for the... Read More &rsaquo […]

  • Property Tax Revenues Increase for 18th Straight Quarter
    by David Logan on June 22, 2017 at 1:08 pm

    NAHB analysis of the Census Bureau’s quarterly tax data shows that $541 billion in taxes were paid by property owners over the four quarters ending in Q4 2016.[1] This represents a $23 billion—or 4.5%—increase over the previous trailing four quarters.  Although this growth rate declined for the first time in a year and a half, it remains robust relative to... Read More &rsaquo […]

  • May Buyers Rush Past Market Challenges
    by Stephen Melman on June 21, 2017 at 3:29 pm

    Existing home sales increased 1.1% in May, and 55% of homes sold last month were on the market less than a month as buyers overcame low inventory and higher prices. Although May inventory increased 2.1%, it remains 8.4% lower than a year ago and fell year-over-year for the 24th consecutive month. The National Association of Realtors (NAR) reported that at... Read More &rsaquo […]

  • Apartment and Condominium Absorption Rates Drop
    by Carmel Ford on June 20, 2017 at 1:22 pm

    According to the most recent release of the Survey of Market Absorption (SOMA), produced by the US Census Bureau in collaboration with the US Department of Housing and Urban Development, completions of nonsubsidized, unfurnished, rental apartments in buildings with 5 or more units totaled to 73,300 in the fourth quarter of 2016, about 9 percent higher than completions in the... Read More &rsaquo […]

  • NAHB Estimates 79,000 Single-family Tear-down Starts in 2016
    by Paul Emrath on June 19, 2017 at 12:31 pm

    Roughly 10.2% of single-family homes started in 2016 qualify as tear-down starts, up from 7.7% in 2015, according to the latest estimates from NAHB.  As defined here, a tear-down start means a home built on a site where a previous structure or evidence of a previous structure was present before the new home was started, as reported by the new home’s... Read More &rsaquo […]


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