The S&P CoreLogic Case-Shiller U.S. National Home Price Index (HPI), reported by S&P Dow Jones Indices, rose at a seasonally adjusted rate of 4.36%. Although this rate has been slowing the previous four months, January saw its first uptick from 2.32% in December 2023. On a year-over-year basis, the S&P CoreLogic Case-Shiller U.S. National Home…
As part of the recently published HBGI, new NAHB analysis of residential permit data shows that about a quarter of single-family construction takes place in coastal counties. Coastal counties, as defined by U.S. Census Bureau, are counties that are adjacent to coastal water or a territorial sea. These coastal counties are grouped into three regions:…
Consumer confidence held steady in March, with optimism about current conditions offset by concerns about the future economic outlook. This pessimism was primarily driven by persistent inflation, especially elevated food and gas prices. The Consumer Confidence Index, reported by the Conference Board, stood virtually unchanged at 104.7 in March, the lowest level since November 2023….
A small rise in mortgage rates in February led to a flat reading for new home sales. Sales of newly built, single-family homes in February edged 0.3% lower to a 662,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The…
Nonfarm payroll employment increased in 43 states and the District of Columbia in February compared to the previous month, while seven states saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 275,000 in February, following a gain of 229,000 jobs in January . On a month-over-month basis,…
After examining trends in single-family permits, we now turn our attention to multifamily permits to continue our exploration of correlations in housing permit data. Using multifamily permits from 2012-2022, five-year and ten-year correlations are used to create an association index for each Metropolitan Statistical Area (MSA) that describes how similar, or dissimilar, particular MSAs are…
