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Tag Archives: Housing Permits

Economic Indicators Improve Despite Drag from Housing

The Conference Board's Leading Economic Index (LEI) edged up 0.3 percent last month to 102.2, flattening out slightly after May's 0.7 percent pickup. Conference Board economist Ataman Oxyildirim attributed the increase to ongoing positive trends in the labor market and an improved outlook for new manufacturing orders, which have helped offset some of the weakness observed in housing so far this year.

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June Housing Starts Down 9.3%

According to a joint report from HUD and the Census Bureau, groundbreaking on new homes was at a seasonally adjusted annual rate of 893,000, a drop of 9.3 percent below May's revised annual rate of 985,000. Declines came on both sides of the market: Single-family starts came to a rate of 575,000, down 9.0 percent, according to the report, while multifamily starts fell 9.9 percent to a 318,000 rate.

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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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Nation’s Markets Continue March to Normalcy

According to the National Association of Home Builders' Leading Markets Index (LMI), 59 metros have fully returned or even exceeded their last normal levels of both economic and housing activity. Overall, the nationwide economic score rose slightly to 0.88 from a revised April reading. "This means that based on current permit, price and employment data, the nationwide average is running at 88 percent of normal economic and housing activity," the group said.

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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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National Recovery Measure Rises to 88%

The National Association of Home Builders (NAHB) delivered some good news Monday in that 59 of the 350 metro markets have returned to or exceeded their last normal levels of economic and housing activity. In the NAHB/First American Leading Markets Index (LMI), the national average is running at 88 percent, with 11 metros gained year-over-year.

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Leading Indicators Point to Warm-Weather Recovery

The Conference Board reported its Leading Economic Index (LEI) increased 0.5 percent last month to 99.8, inclining steeper after a 0.1 percent gain in January. “The U.S. LEI increased sharply in February, suggesting that any weather-related volatility will be short lived and the economy should continue to improve into the second half of the year,” said Ataman Ozyildirim, economist at the Conference Board.

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Housing Starts Slip Further; Permit Numbers Mixed

According to numbers from the Census Bureau and HUD, privately owned housing starts in February were at a seasonally adjusted annual rate of 907,000, down 0.2 percent from January’s revised estimate of 909,000 and 6.4 percent below the February 2013 rate of 969,000. On just the single-family side, builders started work last month at a rate of 583,000 homes per year, 0.3 percent above January’s revised figure.

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Energy Sector Growth Boosts Recovery

Nationwide, the economy and housing market are functioning at a level about 87 percent of their pre-crisis normal levels, according to the National Association of Home Builders (NAHB) and First American’s Leading Markets Index. Fifty-nine of the 350 metro markets are at or above their pre-crisis norms, according to the index, up from 58 metros last month. At the same time, 130 markets are at least 90 percent of their pre-crisis levels, according to NAHB.

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Leading Indicators Show Signs of Economic Stability

The Conference Board’s Leading Economic Index (LEI) for January increased 0.3 percent to 99.5, the group reported Thursday. Also released Thursday were the Conference Board Coincident Economic Index and the Lagging Economic Index, which both ticked up slightly. Together, the three indexes represent observed changes in average weekly hours, building permits, stock prices, consumer expectations for business conditions, and more.

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