BuilderBytes' MetroIntelligence Economic Update for 6/26/15

Please click here to see the edition of BuilderBytes for 6/26/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Initial unemployment claims rise by 3,000 in latest report
• Personal income rose 0.5 percent in May as spending rose 0.9 percent

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/25/15

Greetings from PCBC 2015 in San Diego!

Please click here to see this special  Thursday edition of BuilderBytes for 6/25/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicator:

• First quarter GDP still declined by 0.2 percent in third and final estimate

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

PCBC: Where are the first-time buyers?

Attending PCBC in San Diego this year?

Be sure to check out a panel discussion I'll be leading on Thursday, June 25th from 2:30-3:30pm in Rooms 30A-E at the San Diego Convention Center.

Panelists will include Tim Costello (CEO, BDX/BuilderHomesite), Mike Taylor (Division President for Inland Empire, Pardee Homes) and Mike Surges (National Strategic Alliance Manager, iMortgage).

Hope to see you there!

BuilderBytes' MetroIntelligence Economic Update for 6/24/15

Greetings from PCBC 2015 in San Diego!

Please click here to see this special Wednesday edition of BuilderBytes for 6/24/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• April new home sales up 2.2 percent from April and by nearly 20 percent year-over-year
• April FHFA House Price Index rose 0.3 percent from March and 5.3 percent year-over-year
• Total durable goods orders dipped 1.8 percent in May but non-aircraft orders rose 0.5 percent

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/23/15

Please click here to see the edition of BuilderBytes for 6/23/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Existing home sales jumped in May as more first-time buyers enter the marketplace

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/19/15

Please click here to see the edition of BuilderBytes for 6/19/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Leading Economic Index jumped 0.7 percent in May for second straight month
• CPI rose 0.4 percent in May but unchanged over previous 12 months
• Philadelphia Fed's Business Outlook Survey shows  improvement in June
• Unemployment claims fall by 12,000 in latest report

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/18/15

Please click here to see the edition of BuilderBytes for 6/18/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Housing starts dipped 11.1 percent in May but still up 5.1 percent year-over-year
• Building permits rose 11.8 percent in May and up 25.4 percent year-over-year
• Empire State Manufacturing Survey shows softening business conditions in June

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/16/15

Please click here to see the edition of BuilderBytes for 6/16/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Builder confidence rises to 59 in June, its highest level in nine months
• PPI rose 0.5 percent in May but down 1.1 percent over previous 12 months
• Consumer sentiment rises more than expected in June
• Industrial production fell 0.2 percent in May as capacity still remains below long-run average

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

Standard Pacific and Ryland to merge

In a bid to take advantage of an improving housing market, public builders Standard Pacific Homes and Ryland Group have announced a merger, with the combined company owning or controlling 74,000 lots in 17 states.

From an L.A. Times article:

The merger would enable the new operation to save $50 million to $70 million a year, the companies said in a news release issued late Sunday. The combination would increase their geographic reach and ability to construct homes at a variety of price levels, from starter homes to luxury models...

When tallied together, the two companies build houses in 20 of the nation's top 25 metropolitan areas and are among the top five builders in 15 of those areas...

 To read the entire article, click here.

June column for Builder & Developer magazine now online

My column for the June 2015 issue of Builder and Developer magazine is now posted online.

For this issue, entitled "Marketing for the Millennial Homebuyer," I covered what appears to be a rebound in the market for first-time buyers, most of whom are Millennials

This is also something I will be covering at a session on Thursday afternoon at this year's PCBC in San Diego featuring panelists Tim Costello (President, Builder Homesite), Mike Taylor (Division President/Inland Empire for Pardee Homes) and Mike Surges (National Strategic Alliance Manager, iMortgage).

An excerpt:

A few months ago, I wrote about the partial absence of the first-time home buyer and what impact that is having on the housing market.  In order to delve into this subject in more detail, I will also be moderating a panel of experts for a session entitled “Where are the First-Time Home Buyers?” on Thursday afternoon at this year’s PCBC in San Diego.

Recently, however, the Web site Zillow made a bold prediction that Milliennial home buyers will outpace other demographic groups as soon as this year based on income, growth in home values and the level of entry-level homes for sale.  The best large cities based on this ranking include Atlanta, Las Vegas, Chicago, Hartford and Pittsburgh.

Zillow’s 2015 predictions are based on a series of factors, including housing data that shows rents continuing to rise sharply while home prices level off, more inventory, and millennials finally starting to get married and have children after delaying those choices during the recession.

In a similar analysis, The Demand Institute – a think tank focusing on consumer demand co-sponsored by The Conference Board and Nielsen – predicts 21.6 million households headed by millennials by 2018, for a gain of 8.3 million since 2013...

To read the entire column, click here.

To read the entire June 2015 issue in digital format, click here.

BuilderBytes' MetroIntelligence Economic Update for 6/12/15

Please click here to see the edition of BuilderBytes for 6/12/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Retail sales rebounded in May, giving boost to economic growth
• Initial unemployment claims rise by 2,000 in latest report
• Mortgage applications rise 8.4 percent in latest survey even as rates rebound slightly
• Both business inventories and sales rose sharply in April

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/11/15

Please click here to see the edition of BuilderBytes for 6/11/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Job openings rose in April to highest level since first being tracked in December 2000
• Wholesale inventories rose much more than expected in April

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/9/15

Please click here to see the edition of BuilderBytes for 6/9/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Job growth rebounded sharply to 280,000 in May as unemployment remained at 5.5 percent
• Consumer credit grew above 7 percent i April for the second straight month

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/5/15

Please click here to see the edition of BuilderBytes for 6/5/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Planned job cuts fell sharply in May but YTD totals still higher than in 2014
• Initial unemployment claims fell by 8,000 in latest report
• Productivity fell 3.1 percent in the first quarter of 2015, mostly flat year-over-year
• Mortgage applications dip 7.6 percent in latest survey even as rates slide 

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/4/15

Please click here to see the edition of BuilderBytes for 6/4/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Private sector jobs grew by 201,000 from April to May
• Manufacturing economy index rose 1.3 percent points in May
• Service sector economy index dipped in May but sector still growing
• Durable goods orders fell again in April due in large part to stronger dollar and cheaper oil

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 6/2/15

Please click here to see the edition of BuilderBytes for 6/2/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Construction spending rose in April to highest level in 6.5 years
• First quarter GDP fell 0.7 percent in second estimate
• Chicago Business Barometer fell sharply in May
• Consumer sentiment dropped in May but annual growth in consumer spending still on track for 3% gain
• Personal income rose more than expected in April while spending remained flat

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.