NAHB News

National Association of Home Builders

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

  • 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 […]

  • Housing Starts Decline in May
    by Robert Dietz on June 16, 2017 at 1:53 pm

    Total housing starts declined in May after a few, strong early months to begin 2017. Total starts were down 5.5%, falling to a 1.092 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Declines were recorded for both single-family and multifamily development. Single-family starts fell back, declining to a 794,000 annual rate. The February... Read More &rsaquo […]

  • Builder Confidence Remains Solid in June
    by Robert Dietz on June 15, 2017 at 2:01 pm

    Builder confidence in the market for newly-built single-family homes weakened slightly in June, down two points to a level of 67 from a downwardly revised May reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence levels have remained consistently sound this year, reflecting the ongoing gradual recovery of the housing market. As... Read More &rsaquo […]

  • Fed Raises Rates, Announces Balance Sheet Reduction Plan
    by Robert Dietz on June 14, 2017 at 8:12 pm

    The Federal Reserve’s monetary policy committee announced two moves today with implications for housing. Neither represented a surprise for markets. First, the Federal Open Market Committee (FOMC) announced the second rate increase for the short-term federal funds rate for 2017, raising the target rate to a 1% to 1.25% range. While the Fed continues to raise short-term rates, the current stance of... Read More &rsaquo […]

  • CPI Slipped in May
    by Jing Fu on June 14, 2017 at 2:49 pm

    The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), slipped in May due to a decline in energy prices. The CPI declined at a seasonally adjusted annual rate of 1.5% in May, following a 2.0% increase in April. Excluding the volatile food and energy components, “core” CPI increased at a seasonally adjusted annual rate of 0.8%,... Read More &rsaquo […]

  • Prices of Softwood Lumber and OSB Keep Climbing
    by David Logan on June 13, 2017 at 7:47 pm

    The prices of softwood lumber and OSB increased by 2.2% and 3.3%, respectively, in May according to the latest Producer Price Index (PPI) release by the Bureau of Labor Statistics.  The increases were a return to the 2017 norm, as softwood lumber and OSB have led building materials price gains in every month except April, when gypsum prices rose 5.1%.  In contrast,... Read More &rsaquo […]

 

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