20
Sep
By Jim Hasek
Housing Analysis

NAHB: Builder Confidence Dips on Hurricane Damage

Home builders had less confidence in housing market conditions in September. In the aftermath of Hurricanes Harvey and Irma, builders worried that ongoing shortages of construction labor and materials would worsen.  NAHB Chairman Granger MacDonald said that concerns over labor and building materials were "intensified," but said that builder confidence was expected to return to high readings once rebuilding is underway. The National Association of Home Builders Housing Market Index dropped three points to an index reading of 64 with all three component readings lower than they were in August. Builder confidence in current market conditions for new single-family homes…
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17
Feb
By Jim Hasek
Housing Analysis, ,

New Home Construction Seen As A Possible Solution To Pent Up Demand For Homes

Builder confidence in markets for new homes fell three points in February to a reading of 58. January's reading was revised upward to 61. Builders have repeatedly expressed concerns shortages of labor and lots for development, but continue to express confidence in future sales conditions. David Crowe, National Association of Home Builder's (NAHB) chief economist, said that builders are watching slowing economic trends, but also cited low mortgage rates, improving labor markets and pent-up demand for homes as factors for strong U.S. housing markets. The NAHB notes that any reading over 50 indicates that more builders were confident than those…
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24
Apr
By Jim Hasek
Housing Analysis, ,

Existing Home Sales Show Improvement In The Northeast And Midwest Region

March sales of existing homes exceeded expectations at a seasonally adjusted annual rate of 4.59 million sales according to the NAR. Analysts projected that existing home sales would reach 4.55 million based on February's reading of 4.50 million sales. The pace of existing home sales declined by 0.20 percent as compared to February's reading. Headwinds Cause Slower Pace Of Home Sales Analysts cited poor winter weather and rapidly rising home prices as factors that kept buyers away, although the Northeast and Midwest regions reported improvements in home sales in March. NAR said that the national average home price increased to…
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02
Apr
By Jim Hasek
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Housing Analysis

Home Prices Accelerate In 2013 WIth Double Digit Growth

Last week, the S&P/Case-Shiller Index showed home prices gaining 8.1 percent during the 12-month period ending January 2013, marking the largest year-over-year increases since the summer of 2006. The Case-Shiller Index measures changes in home prices by tracking same-home sales throughout 20 housing markets nationwide; and the change in sales price from sale-to-sale. Detached, single-family residences are used in the Case-Shiller Index methodology and data is for closed purchase transactions only. All 20 Case Shiller Index Markets Show Growth Between December 2012 and January 2013, home values rose in all 20 Case-Shiller Index markets, with previously-hard hit areas such as…
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