Home >> Tag Archives: Residential Construction (page 5)

Tag Archives: Residential Construction

Freddie Mac Sees Room for Growth in Housing

Well housing activity remains near historical lows, Freddie Mac is taking a more optimistic view: There's still plenty of room to grow. This glass-half-full viewpoint was reflected in the GSE's forecast for housing in 2013, especially for housing starts, which are projected to increase to 950,000 units this year--22 percent higher than 2012 levels. The GSE also expects prices to increase 3 percent in 2013 and 2014, while sales are forecast to rise to an annual rate of 5.45 million and 5.80 million, respectively.

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Beige Book Shows Expanding Economy at End of 2012

Fed

Economic activity "expanded" in the closing weeks of 2012, the Federal Reserve said in its periodic Beige Book released Wednesday, reflecting a slow but steadily declining unemployment rate and low rates of inflation--conditions the Fed said would have to be met before it raises interest rates. According to the report, "real estate activity has expanded or held steady in 11 Districts for existing home sales and leasing; eight Districts for residential construction; 11 Districts for nonresidential sales and leasing; and nine Districts for nonresidential construction."

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Commentary: Filling The Void

President Obama opened a big hole in his White House by tapping Jack Lew to replace Timothy Geithner as Secretary of the Treasury, leaving empty--for the moment--the role of chief of staff. It's not the first time the president has looked to change nameplates of those who already worked for him. Strong managers, according to Harvard Business School theory, can move from one discipline to another without specific expertise, and Harvard Law alum Obama apparently picked up something beyond a law degree while in Cambridge.

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New Findings from FMI Forecast $1T in CPIP by 2014

North Carolina-based FMI has released the results of its 2013 U.S. Markets Construction Overview, and the company is heralding more than $1 trillion in construction-put-in-place (CPIP) by 2014. Noting near-term projections, FMI stated that CPIP is anticipated to hit $826 to $884 billion to end 2012, with the growth rate remaining slightly ahead of gross domestic product (GDP) growth rates in 2013.

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October Construction Spending Up 9.6% Year-Over-Year

Construction spending during October was at a seasonally adjusted annualized rate of $872.1 billion, according to an estimate from the Census Bureau. Spending on private construction was at an annual rate of $592.1 billion in October, up about $9.4 billion (1.6 percent) from September's revised $582.7 billion. Spending on homebuilding made up a little less than half of that total, reaching an annual rate of $294.2 billion (up 3.0 percent from September and 20.8 percent from October 2011).

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Stronger Traffic Boosts Builder Confidence

After jumping 11 points in three months, builder confidence inched up one point in October to 41, remaining at its highest level since June 2006, the National Association of Home Builders reported Tuesday, matching economist expectations. The October boost was due entirely to a surge in homebuyer traffic in October, as other elements of the index were flat from September. The traffic index├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øwhich had been revised downward in September to 30, from an originally reported 31├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øleapt to 35, its highest level since April 2006.

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Homeownership Rally in Missouri Draws Concerned Citizens

More than 800 homeowners from across Missouri, Kansas, and Nebraska, came together with local business leaders, real estate professionals, politicians, and civil rights leaders this week in support of homeownership. The rally took place in Independence, Missouri, and is one of nine events organized by the National Association of Home Builders (NAHB) to urge elected officials to back homeownership initiatives.

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GDP Growth Pegged at 1.7%, Up From Earlier Estimate

The U.S. economy grew in the second quarter at 1.7 percent, slightly faster than the originally estimated 1.5 percent, the Bureau of Economic Analysis reported Wednesday. At the same time BEA reported second quarter grew at a meager 0.5 percent from the first quarter, but an improvement from the 2.7 percent drop in corporate profits registered in the first quarter. Profits in the financial sector though fell more than 9 percent. The upward revision in second quarter GDP growth was in line with the forecast by economists surveyed by Bloomberg.

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