- July new home sales up 5.4 percent from June and nearly 26 percent year-over-year
- Case-Shiller 20-city index rose by annual rate of 4.5 percent in June
- FHFA House Price Index rose by annual rate of 5.4 percent in 2Q 2015
- Consumer confidence rebounds in August as labor market continues to improve
Thursday, August 27, 2015
Friday, August 21, 2015
Please click here to see the edition of BuilderBytes for 8/21/15 on the Web.
- Existing home sales rose to eight-year high in July even as inventory remained low
- Initial unemployment claims rise by 4,000 in latest report
- Mortgage applications rise by 3.6 percent in latest survey as rates dip slightly
Thursday, August 20, 2015
click here to see the edition of BuilderBytes for 8/20/15 on the Web.
- July building permits fell 16.3 percent from June but still up 7.5 percent year-over-year
- July housing starts reached nearly eight-year high, up 10.1 percent year-over-year
- CPI rose 0.1 percent in July, up by just 0.2 percent over previous 12 months
- Federal Reserve meeting minutes shows conditions for rate hike improving
Tuesday, August 18, 2015
- Builder confidence rises to 61 in August for the highest reading since November 2005
- Empire State Manufacturing Survey tumbles sharply in August but future outlook remains positive
- Producer Price Index rose 0.2 percent in July but down 0.8 percent for previous 12-month period
- Consumer sentiment dips in preliminary August reading
Friday, August 14, 2015
Please click here to see the edition of BuilderBytes for 8/14/15 on the Web.
- Retail sales rose 0.6 percent in July, revised upwards for May and June
- Initial unemployment claims rise by 5,000 in latest report, but 4-week average still lowest since April 2000
- Business inventories rose in June by highest amount since January 2013
- Mortgage applications remained mostly flat in latest survey as rates remained unchanged
Thursday, August 13, 2015
- Productivity grew 1.3 percent in the second quarter of 2015
- Job openings dropped to 5.2 million in June
- Wholesale inventories rose more than expected in June
Tuesday, August 11, 2015
- Employment rose by 215,000 in July as unemployment rate remained unchanged at 5.3 percent
- Consumer credit rose in June by 7.3 percent
Friday, August 7, 2015
Please click here to see the edition of BuilderBytes for 8/7/15 on the Web.
- Announced job cuts soar to over 100,000 in July, with half attributed to U.S. Army reductions
- Initial unemployment claims rise by 3,000 in latest report
- Mortgage applications rise 4.7 percent in latest survey as rates dip
Thursday, August 6, 2015
My column for the August 2015 issue of Builder and Developer magazine is now posted online.
For this issue, entitled "Capturing the Elusive First-Time Home Buyer," I wanted to follow up on the recent PCBC panel I hosted which discussed the same subject.
Importantly, although the percentage of first-time home buyers has recently risen by a few percentage points from where it was a year ago, for most builders of new homes it’s a different story.To read the entire column, click here.
Whereas the share of new home sales versus the overall market has traditionally ranged from 15 to 20 percent, today it’s about half that, and unless that capture rate rebounds closer to historical norms, new home starts will remain subdued. Moreover, given that 2.5 to 3 times today’s national median household income would allow a sale price of about $140,000 to $160,000, it’s easy to see why building that starter home has become so problematic.
To read the entire August 2015 issue in digital format, click here.
- Private sector jobs added 185,000 from June to July
- Factory orders rebounded strongly in June
- Manufacturing sector index fell in July but still into positive territory
- Service sector economy index jumped sharply in July