Tag Archives: housing market

Housing Starts Data Better than Headline

Headline housing starts fell 17,000 in November from an upwardly revised figure in October. October’s revision of +36,000 was large enough to eclipse November’s decline;

Construction Spending Rebounds

Construction spending surged 1.1% in October, more than twice the consensus, while losses for September came in much smaller than initially reported. The largest increase was in the public sector, which had weighed down construction figures earlier in the year. In that sector, the largest gains were in health care and public safety. Highway construction [...]

Existing Home Sales Highest Since September 2013

Existing home sales handily beat expectations in October, coming in at a 5.26 million-unit annualized rate. September data were also revised to the upside. Regionally, strength was broad-based as three of the four regions showed month-to-month increases mostly concentrated in the Midwest and the South. In the Midwest, investors continue to scoop up properties to [...]

Single-family Starts Move Higher

Single-family housing starts accounted for 696,000 starts, up 28,000 from September. That, coupled with the fact that the revision brought September’s total into the black by 27,000 bodes well for the economy; single-family homes stimulate much more economic activity than multifamily rental units. On the flipside, multifamily starts came in at 313,000 for October, 57,000 [...]

Construction Disappoints, Manufacturing Improves

Construction spending dropped 0.4% in September, after falling a revised 0.5% in August. The weakness in August was less than initially reported but the data were still a disappointment. Losses were concentrated in public sector construction. The private sector also saw some weakness, however, particularly in nonresidential construction. Gains in lodging, food, drinking establishments and [...]

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 [...]