Tag Archives: housing market

New Home Sales Flatline

New home sales rose an almost imperceptible 0.2% in September, after being revised down sharply for the month of August. While new home sales are a notoriously volatile data series, estimated from a very small sample and subject to large revisions, sales have continued to trend modestly higher

Home Sales Edge Higher

Existing home sales edged higher in September after losing ground in August. We are still trying to regain ground lost, however, in the wake of last year’s “taper tantrum” over Federal Reserve talk of ending its asset purchasing program; that pulled a lot of sales into the third quarter of 2013. Hence, sales remain below the [...]

Housing Starts Recross Million Mark

Housing starts moved back above the one million unit threshold again in September, after being revised up slightly for August. Multifamily starts accounted for nearly the entire comeback after starts cratered in August.

Construction Spending Disappoints

Construction spending dropped 0.8% in August after being revised down for the month of July. Losses were distributed between both the private and public sectors. Even private residential construction took a hit, with losses in remodeling offsetting gains in single and multifamily construction. Multifamily construction remains the primary driver in the housing market with increases [...]

New Home Sales Jump

New home sales jumped at a double-digit pace to a 504,000 unit rate in August after being revised up for the month of July. This is welcome news in a housing market that has been lackluster at best and underscores how picky buyers remain in this market. Realtors complain that anything that is not move-in-perfect [...]

Investor Interest in Housing Wanes

Existing homes sales slid to a 5.05 million unit pace in August and were revised down slightly to a 5.14 million unit rate in the month of July. Losses were concentrated in the West and South, where investors had been playing an outsized role in supporting sales. All cash buyers slipped to 23% of the [...]

Housing Starts Dip

Housing starts fell below the one million unit threshold again in August, but were revised up slightly for the month of July. Losses were heavily concentrated in the multifamily market, which has been on a tear. The largest losses in multifamily home construction were experienced in the West, where housing shortages are the most acute. [...]

Broad-Based Losses in New Home Sales

New home sales fell from a 422,000 unit pace in June to a 412,000 unit pace in July; the data for June was revised up slightly, but the sales remain above levels hit a year ago. Losses in the month of July were broad-based with the exception of the South; the South is by far [...]

Existing Home Sales Rose Last Month

I am traveling but did a quick read on existing home sales  figures released this morning by the National Association of Realtors. The increase in existing sales in July is welcome but also suspect, given the downward revision to June. We are still playing catch-up

Housing Starts Increase

Housing starts moved back above the one-million-unit mark again in July, and were revised up for the month of June. This is a highly volatile and unreliable series, but we will take what we can get when it comes to housing; the gains are also corroborated by the survey of home builder confidence,