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Tag Archives: Census Bureau

U.S. Homeownership Sinks to 64.4%

According to a report from the U.S. Census Bureau, the homeownership rate last quarter fell to 64.4 percent, down 0.3 percentage points from Q2 and nearly a full percentage point from the same quarter last year. The last time homeownership in the country was this low was in the first quarter of 1995.

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New Home Sales Up After Major August Revision

The Commerce Department and HUD estimate that new home sales were at a seasonally adjusted annual pace of 467,000 in September, according to a joint report from the agencies. September's sales rate marks a 0.2 percent increase over August's revised rate and a 17 percent jump above September 2013. New home sales in August, originally reported at an annual pace of 504,000, came down dramatically in the government's revised estimate.

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Residential Construction Spending Sees July Upswing

Total construction spending, both private and public, surged to a seasonally adjusted annual rate of $981.3 billion, up from $906.6 billion in July last year. For private residential construction, the numbers reflected a 7 percent boost year-over-year, eclipsing new home data in June at a seasonally adjusted annual rate of $358.1 billion.

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Housing Starts Jump in July; Permits Lag

According to figures released Tuesday by HUD and the Commerce Department, privately owned housing starts last month were at a seasonally adjusted annual rate of 1.09 million, a 15.7 percent spike from June's upwardly revised rate of 945,000 and a 21.7 percent gain over the same month last year. While most of last month's improvement came from a surge in multifamily building, single-family starts posted a solid gain, rising 8.3 percent to 656,000.

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Homebuilding Outlays Mixed in June

According to the latest figures released Friday from the U.S. Census new home sales, starts, and spending were down in June and for the first half of the year. Spending on private construction in June came in at a seasonally adjusted annual rate of $685.5 billion, 1 percent below the revised May estimate of $692 billion. Residential construction alone was at $356 billion, which is 0.3 percent below the revised May estimate.

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Homeownership Down to 19-Year Low

According to an estimate from the Census Bureau, the U.S. homeownership rate was 64.7 percent in the second quarter, a decrease of 0.1 percentage point from the first quarter's previous low and 0.3 percentage points from the same time last year. It was the lowest rate since 1995. Homeownership continued to slide among the millennial age group, who find themselves burdened by high debt, tight credit conditions, and limited job prospects.

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Construction Spending Up 0.1% in May

Construction spending edged up 0.1 percent from April to May, though private homebuilding outlays came down slightly. The Commerce Department reported Tuesday that construction spending during May was at an estimated seasonally adjusted annual rate of $956.1 billion, just up from April's revised estimate of $955.1 billion and 6.6 percent higher than the May 2013 estimate of $896.6 billion.

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New Home Sales Shoot Up 18.6% in May

Sales of new single-family homes blew past all expectations in May even as prices and inventory continued to present a challenge. According to figures released Tuesday by the Census Bureau, new home sales last month were at a seasonally adjusted annual rate of 504,000, representing an 18.6 percent spike above April's downwardly revised rate of 425,000.

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Purchase Apps Point to Drop in May New Home Sales

The Mortgage Bankers Association (MBA) reported Friday that applications for new home purchases fell 8 percent from April to May, indicating a seasonally adjusted annual sales rate of 374,000 units. If the numbers play out that way, it will be the lowest pace of sales since July 2013. On an unadjusted basis, the association estimates there were 36,000 new home sales last month, a 14.3 percent decline from April.

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Census Examines Main Causes for Moving

Among the millions of households who moved between 2012 and 2013, a study finds the most important reason was to find a new or better home. According to the Census Bureau, 11.7 percent of surveyed participants moved in the year, with 48 percent moving for housing reasons compared to family or employment. All told, 17.2 million gave a housing-related reason for moving.

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