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Tag Archives: Homebuilders

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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Single-Family Starts Decline in May; Permits Pick Up

According to figures released by the Census Bureau and HUD, privately owned housing starts last month were at an estimated seasonally adjusted annual rate of just more than 1 million, down 6.5 percent from April's slightly revised estimate of 1.07 million. The government's report presented mixed news on the single-family front: While starts were down nearly 6 percent to a rate of 625,000, April construction was stronger than originally reported.

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Builder Sentiment Picks Up to Five-Month High

The National Association of Home Builders' (NAHB) Housing Market Index (HMI), released Monday in collaboration with Wells Fargo, registered 49 this month, up from 45 in May. A value below 50 indicates more builders view market conditions as "poor" rather than "good." Despite falling one point short of the benchmark, the moderate uptick in sentiment "is a welcome sign and shows some renewed confidence in the industry," said NAHB chairman Kevin Kelly.

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Economists Shrink Building Forecasts in Survey

In a survey of economists, the Wall Street Journal found optimism for housing starts through the rest of the year has dropped, thanks to a slow first half. To begin the year, the consensus view among economists participating in the survey was that housing starts would jump 20 percent this year, rising to 1.11 million units from a total of 924,900 in 2013. Now, that prediction is down to 1.05 million.

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NAR: New Construction Needs to Catch Up to Job Creation

Measuring new homebuilding against employment numbers—which only recently recovered from their recessionary decline—the National Association of Realtors finds that historically, there is one new home built for every 1.5 jobs added to the economy. As of the first quarter, 32 states and the District of Columbia are above that ratio, meaning job growth has far outpaced new construction over the past three years.

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Construction Spending Climbs 0.2% in April

The Department of Commerce estimates overall construction outlays came to a seasonally adjusted annual rate of $953.5 billion in April, just up from March's revised $951.6 billion (originally reported at $942.5 billion). Despite the small increase, the gain brought spending levels up to their highest since March 2009.

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Disappointing Sales Knock Down Builder Confidence

The National Association of Home Builders (NAHB) released Thursday its Housing Market Index (HMI) for May, reporting another slip in builder confidence as single-family home sales continue to disappoint. The index, a gauge of homebuilder sentiment toward the single-family housing market, dropped to 45 from a downwardly revised reading of 46 in April. A score below 50 indicates a market viewed by more builders as “poor” rather than “good.”

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Construction Spending Edges Up as Builders Maintain Caution

According to figures released Thursday by the Commerce Department, total construction spending in March bumped up 0.2 percent to an estimated adjusted annual rate of $942.5 billion. Compared to a year prior, March spending was up 8.4 percent. In the private sector, construction spending was put at an estimated rate of $679.6 billion, with residential projects accounting for $369.8 billion of that total.

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Housing Starts Miss Expectations; Permits Fall

Homebuilding across the country lifted slightly in March but still fell short of expectations, while permits for new housing tumbled. According to figures released Wednesday by the Census Bureau and HUD, March housing starts were at a seasonally adjusted annual rate of 946,000, 2.8 percent above February’s revised estimate but below a consensus forecast of 970,000 predicted in a survey of economists.

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Builder Confidence Still Tepid

The National Association of Home Builders (NAHB) reported a one-point increase in its monthly Housing Market Index (HMI), a measure of builders’ confidence in the market for newly constructed single-family homes. March’s index was revised down to 46 from an originally reported 47. Registering 47 as of the latest release, the index has now spent three straight months below 50, the threshold between a market viewed largely as “good” and one viewed as “bad.”

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