- February pending home sales rose to highest level since June 2013
- Fourth quarter 2014 GDP rose 2.2 in third and final estimate
- Consumer sentiment reached over 10-year high in first quarter of 2015
- Personal income rose more than expected in February; personal savings rate at 2-year high
Tuesday, March 31, 2015
Friday, March 27, 2015
Please click here to see the edition of BuilderBytes for 3/27/15 on the Web.
- Durable goods orders declined in February as businesses cut back on investments
- Initial unemployment claims fall by 9,000 in latest report
Thursday, March 26, 2015
- New home sales rose to 7-year high in February
- CPI rebounded 0.2 percent in February but unchanged for previous 12 months
- FHFA House Price Index rose 0.3 percent in January; up 5.1 percent year-over-year
Tuesday, March 24, 2015
- Existing home sales rose modestly in February, but prices rose at the fastest pace in a year
- Federal Reserve keeps interest rates at current levels for now, but may raise the later in the year
Friday, March 20, 2015
Please click here to see the edition of BuilderBytes for 3/20/15 on the Web.
- Leading Economic Index edged up in February for the third straight month
- Initial unemployment claims rise by 1,000 in latest report
- Philadelphia Fed's Business Outlook Survey showed modest manufacturing expansion in February
- Mortgage applications fall 3.9 percent in latest survey even as rates dip slightly
Thursday, March 19, 2015
My column for the March 2015 issue of Builder and Developer magazine is now posted online.
For this issue, entitled "The Housing Rebound Continues, Version 2.0" I wanted to revisit the state of the economic rebound as well as the slow recovery in the housing market. An excerpt:
Last December, I wrote about a slow but steady housing rebound that seemed to suggest an even stronger 2015, and this is certainly still the case. However, more updated economic information from the fourth quarter of 2014 and the first part of 2015 seem to point to a different type of animal: Look for 2015 to be the year that we see the continued return of the retail buyer, and especially the first-time home buyer...To read the entire column, click here.
Until the prime-age employment-to-population ratio rises from the current 77.2 to closer to 80 percent, the U.S. economy likely won’t see consistent and meaningful wage growth. It is mainly due to this weakness in wage growth— along with inflation that remains below its target of two percent and the decline in GDP during the fourth quarter of 2014—that Federal Reserve Chair Janet Yellen has continued to postpone any hike in short-term interest rates...
To read the entire March 2015 issue in digital format, click here.
click here to see the edition of BuilderBytes for 3/19/15 on the Web.
- Housing starts plummeted in February due in part to frigid winter weather
- February building permits rose 3.0 percent over previous month and 7.7 percent year-over-year
- Industrial production rebounded slightly in February and up 3.5 percent year-over-year
Tuesday, March 17, 2015
click here to see the edition of BuilderBytes for 3/17/15 on the Web.
- Builder confidence falls two points in March
- Producer Price Index dips 0.5 percent in February, down 0.6 percent for previous 12 months
- Consumer sentiment dips in March
- Empire State Manufacturing Survey shows modest expansion but six-month outlook dips
Friday, March 13, 2015
Please click here to see the edition of BuilderBytes for 3/13/15 on the Web.
- Retail sales dropped in February, likely due to harsh winter weather
- Initial unemployment claims fall by 36,000 in latest report
- Inventories flat in January as wholesale sales declined
- Mortgage applications fall 1.3 percent in latest survey as rates rise slightly
Thursday, March 12, 2015
click here to see the edition of BuilderBytes for 3/12/15 on the Web.
- Job openings rose to 5.0 million in January as separations remained stable
- Wholesale inventories rose in January as sales retreated sharply