Tag Archives: housing market

Manufacturing Weak but Construction Is on the Mend

The ISM index of manufacturing activity slowed to 50.2 in September, which suggests that overall manufacturing activity is still expanding but only slightly.

New Home Sales Rise: South Leads the Way

In August 552,000 new homes were sold, 30,000 more than were sold in July. Much of the increase was driven by a pop in sales in the South, with the West and Northeast posting modest increases as well.

Existing Home Sales Pulled Back in August

Existing home sales pulled back in August, after posting three consecutive months of growth. Sales were down 270,000 to 5.3 million units sold on an annualized basis. The decline is off of an eight-year high set in July.

Housing Starts Miss Expectations

In August, builders started on 1.126 million homes. That was a slowdown from last month’s downwardly revised data and can be chalked up to the Northeast’s multifamily sector; that continues to pull back after the expiration of tax incentives, which had pulled forward a lot of multifamily starts in the region. Total single-family starts, which [...]

Construction Spending Higher In June and July

Construction spending surged 0.7% in July and was revised up for the month of June; it is now at the highest level since mid-2008, which is good but still suppressed relative to the bubble. Gains in the private sector offset a drop in the public sector. The rise in single-family home construction outpaced gains

Solid New Home Sales in July

New home sales increased in July to an annualized level of 507,000; that is up a solid 26,000 from the previous month. The revision to June was essentially flat. Three of the four regions posted increases with the South leading the way, followed by the West and Northeast. The Midwest was the only region to [...]

Existing Home Sales Beat Expectations

In July, existing home sales topped expectations by coming in at 5.59 million homes (annualized) sold. Revisions to the previous month were essentially flat. The July increase was driven by gains in the South

Housing Starts Flat Despite Flicker in Single-Family

In July, housing starts ticked up 2,000 to 1.21 million. That comes after an upward revision of 30,000 to June. Though starts came in essentially flat for July, that does not tell the whole story.

Construction Data Improves with Detail

Construction spending rose an almost imperceptible 0.1% in June, with a drop in the private sector offsetting ongoing gains in the public sector. Revisions to previous months were to the upside, however, suggesting that the improving trend in construction that we saw with last month’s release is still intact.

Incomes Solid, Outlays Moderate

Personal disposable incomes rose 0.2% in the month of June after adjusting for inflation. The inflation-adjusted data on Personal Consumer Expenditures (PCE) were essentially flat. The numbers were not as bad as they appeared