Tag Archives: Census Bureau

Construction spending rose 0.6 percent in September to its highest level since 2009, the Census Bureau reported Thursday. Spending during the month was estimated at a seasonally adjusted annual rate of $851.6 billion, up from the revised August estimated of $846.2 billion. Private residential construction posted a 2.8 percent gain from August. That improvement was mostly driven by single-family building, which rose 3.9 percent as low mortgage rates spurred increased demand for new homes.

The number of owner-occupied homes reached 75,076,000 in the third quarter, increasing from 74,832,000 in the second but down from 75,251,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation's homeownership rate (seasonally adjusted) remained near historic lows, hovering at 65.5 percent. The stagnant homeownership rate combined with a decline in the number of units held off the market suggests opportunities for home sales.

New home sales jumped 5.7 percent in September to a seasonally adjusted average annualized rate of 389,000, the highest rate since April 2010, the Census Bureau and Department of Housing and Urban Development reported Wednesday. Economists surveyed by Bloomberg expected the report to show a sales pace of 385,000. The month-to-month sales improvement was the strongest since February, when sales improved 27,000, or 8.0 percent. While sales numbers improved, both the median and average sales price of a new home dropped.

A study released by Interest.com shows homes are only truly affordable in about half of the nation's major cities.

Housing starts and permits jumped in September to their highest levels since July 2008, Census Bureau and Department of Housing and Urban Development reported jointly Wednesday. Housing starts jumped 15.0 percent to a seasonally adjusted annual rate of 872,000 while permits improved 11.6 percent to 894,000. Single family starts represented 69.2 percent of the total in September, matching their year-to-date share. Single family starts made up 71.5 percent of all starts for the same period in 2011.

The price premium attached to newly-built homes has fallen over the past six months, Capital Economics observed.

Having reached its apparent peak in June, construction spending continued its backward slide in August, the Census Bureau reported.

Single family starts increased 28,000 in August to 535,000, the highest level since April 2010, the Census Bureau and HUD reported jointly Wednesday. Despite the increase total, housing starts improved just 17,000 as multi-family starts fell. Despite the increase total, housing starts improved just 17,000 as multi-family starts fell. Housing permits meanwhile dropped 9,000 to 802,000. Economists had expected total starts to increase to 768,000 and permits to slip to 803,000.

When he ran for the presidency in 1980, Ronald Reagan, then Republican governor of California, struck at then-President Jimmy Carter over the strength of the economy. His question for Americans: "Are you better off now than you were four years ago?" That's the question Paul Ashworth and Paul Dales, senior analysts with Capital Economics, offered to answer in a report released by the consultancy on Friday. The report breaks down recent economic trends, including GDP, home sales, and median income.

Private and public construction spending fell off in July, shy of initial estimates, with private nonresidential spending worse for the wear if trends persist, analysts say. Analysts with IHS Insight shared their concerns on Tuesday with commentary detailing the latest spending numbers from the Census Bureau. According to the report, construction spending declined by 0.9 percent in July, while spending went up 9.3 percent year-over-year. Public construction declined by 0.4 percent.