With this post NAHB announces the release of its latest estimates of spending on improvements to owner-occupied homes at the zip code level.  The new estimates are for calendar year 2018 and include the number of owner-occupied homes, the number with improvement spending during the year, the average spending per improved home, total spending on improvements within the zip code, and the drivers of remodeling activity used to… Read More ›

According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 26 states and the District of Columbia, was unchanged in two states, and decreased in 22 states in April 2018 compared to March 2018. Over the month of March, jobs rose across 34 states, but declined in seven, with nine states flat. Although job growth was more geographically… Read More ›

Existing-home sales decreased 2.5% in April to a level 1.4% below a year ago, and sales have now decreased year-over-year for two consecutive months. The first-time buyer share of 33% was an increase from last month, but remains down from 34% a year ago. The National Association of Realtors reported that 57% of homes sold last month were on the… Read More ›

Confidence in the Multifamily Market remained firm in the first quarter of 2018 with a Multifamily Production Index (MPI) of 53, according to the National Association of Home Builders (NAHB) (Figure 1). The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of… Read More ›

The volume of residential construction loans increased by 1.8% during the first quarter of 2018, marking 20 consecutive quarters of growth. Furthermore, recent stabilization of year-over-year growth rates is an indicator of continued, modest growth for single-family construction. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting factor for home building growth, but easing credit conditions and a growing loan base have helped expand residential… Read More ›

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Home Deport reported sales growth that missed Wall Street’s forecasts. The company specifically cited a ‘slow start’ to spring as a problem. Bad weather did hurt sales. But rising mortgage rates might be a bigger problem going forward.