Tag Archives: National Association of Home Builders

In another sign the housing sector may be languishing again —the Pending Home Sales Index (PHSI) dipped 1.4 percent in June to 99.3 from a downwardly revised 100.7 in May, the National Association of Realtors reported Thursday. Economists had expected a 0.9 percent increase to 101.6. Prior to the recent drops, the PHSI had been rising steadily until April. Lawrence Yun, NAR chief economist, blamed a lack of inventory for the drop in the index.

Builder confidence jumped six points in July its highest level since March 2007, the National Association of Home Builders (NAHB) reported Tuesday. Economists had expected a modest one point increase in July. The six point gain to 35 was the largest month-month gain since September 2002 when the confidence gauge rose eight points.

The number of markets showing sustained and measurable improvements rose to 84 in July from 80 in June, according to the First American Improving Markets Index (IMI) released from the National Association of Home Builders (NAHB). July's IMI includes 73 metros from June's list and 11 new additions. New list entries noted by NAHB were Prescott, Arizona; Springfield, Massachusetts; St. Cloud, Minnesota; and Houston, Texas. ""The modest increase in the July IMI is encouraging because it indicates that individual housing markets continue to regain their footing despite some recent reports of weakening in the broader economy,"" said NAHB Chief Economist David Crowe.

New home sales jumped to 369,000 in May - the highest level since April 2010 - as the median and average home prices both dropped, the Census Bureau and Department of Housing and Urban Development reported jointly Monday. Economists had expected sales to reach 350,000 from the prior month's 343,000.

Data shows that the onset of the housing crisis brought with it an increase in students taking out loans for higher education. Since the third quarter of 2008, student loan debt has increased by 47.9 percent ($293 million). This increase is attributed to the drop in the availability of home equity loans, which are often used by homeowning parents to finance their children's education. While student loan debt has risen, NAHB's analysis dismissed speculation that loan delinquency could spell disaster for housing and the economy.

Housing permits soared in May to their highest level since September 2008, surging 7.9 percent to 780,000, the Census Bureau and Department of Housing and Urban Development reported jointly Tuesday but housing starts dropped 4.8 percent to 708,000 giving back all of April's gain. At the same time, permits for April were revised upward to 723,000 from the originally reported 715,000. April housing starts were also revised upward to 744,000 from the originally reported 717,000.

Builder confidence rose one point in June to 29, its highest level since May 2007, the National Association of Home Builders reported Monday. The Index for May, originally reported as 29, was revised down to 28. Economists had expected the Index to be flat compared the original report for May. The total Index in June was up 16 points from June 2011, the strongest year-year gain since December 1998. The Index has improved year-year for 12 straight months as it did from July 2009 through June 2010 before going into a five month swoon.

Negative reports on the economy may be shaking up confidence, but Capital Economics released a report Friday stating that in their view, the foundations for a sustainable recovery are still in place. The employment situation in the U.S. and issues overseas such as the euro-zone crises are all taking a toll on the economy and consumer confidence. Yet, there are still reasons to make the argument that the recovery is not going to be derailed. Home sales and prices have increased, and mortgage affordability continues to be at an all-time high.

New homes sales rose 3.3 percent in April to a seasonally adjusted annual rate of 343,000, the Commerce Department and Department of Housing and Urban Development reported jointly Wednesday (May 23). Sales for March were revised upward from 328,000 to 332,000. Sales for March were revised upward from 328,000 to 332,000. Economists had expected the report to show a seasonally adjusted annualized rate of 335,000 for new home sales in April. New home sales in April were up 9.9 percent from April 2011, the seventh straight month of year-over-year increases.

Builder confidence jumped five points in in May to 29, its highest level since May 2007, the National Association of Home Builders reported Tuesday. Economists had expected the index to edge up to 26 in May. The month-month increase was the largest since April 2009. The total index in May was up 13 points from May 2011, the strongest year-over-year gain since April 2004. All three components of the index - current sales, sales six months out, and buyer traffic - showed strong increases in May, with buyer traffic and current sales conditions each rising five points while the projection of sales six months ahead increased three points.