Eye On Housing
Year-over-Year Decline for Construction Job Openings
Data from the BLS┬áJob Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings posted a monthly decline in November and a substantial decrease on a year-over-year basis. The estimated number of job openings declined from the October total (326,000) to 214,000 in November, after reaching a post-Great Recession high of 434,000 in April. The November 2019 count of... Read More ›
Strong Growth Rate for Housing Starts Going into 2020
Total housing starts posted a 16.9 percent increase in December (1.608 million units) compared to a upwardly revised November estimate of 1.375 million units according to the joint data release from the Census Bureau and HUD. Relative to December 2018, total starts are 40.8 percent above the annual pace of 1.14 million units, a pace that will likely be revised... Read More ›
Builder Confidence Begins Year Strong as Single-Family Growth Continues
Builder confidence in the market for newly-built single-family homes edged one point lower to 75 in January, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The last two monthly readings mark the highest sentiment levels since July of 1999. Low interest rates and a healthy labor market combined with a need for additional inventory... Read More ›
Building Materials Price Growth Slowest Since 2015
Prices paid for goods used in residential construction advanced 0.2% in December (not seasonally adjusted) according to the latest Producer Price Index (PPI) released by the Bureau of Labor Statistics. Building materials prices increased 0.1% per month, on average, in 2019. The price of goods used in residential construction rose 1.5% over the year, representing a 0.4ppt slowdown from the... Read More ›
Slow Rebound in Single-Family Permits in November
Over the first eleven months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 791,452. On a year-over-year (YoY) basis, this is a 1.0% decline over the November 2018 level of 799,679.   Year-to-date ending in November, single-family permits reported declines in three regions and a slight increase in the South. The Northeast reported the steepest... Read More ›
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