Homes Sales Accelerate in April

 

New and existing home sales posted gains as the economy improved after a weak first quarter. Revised figures from the Bureau of Economic Analysis indicate the economy grew at a 0.8% rate at the start of the year. Incoming data suggest the economy has been growing at a 2% rate in the second quarter, reversing a recent trend of weakening growth.

Economic Conditions

First Quarter GDP Revised Up, but Trend is Down

Positive contributions included personal consumption expenditures, residential fixed investment, state and local government spending, and negative import growth.

 

Minutes from FOMC's April Meeting – Loud and Clear?

Several incoming economic data releases will be strong indicators of the Federal Open Market Committee's upcoming decision to potentially raise interest rates. 

Lending Standards Ease on AD&C Financing 

However, the pace of easing continues to slow from previous periods.

Mortgage Debt Outstanding Expands

The dollar value of mortgage originations has risen each quarter for two consecutive years.

Sales and Production Assessments

Pending Sales Soar to Highest Level in a Decade

Healthy gains in the South and West, while the Northeast and Midwest stayed much the same. 

Apartment and Condo Market Remains Steady

Latest index marks 17 consecutive quarters in which most builders reported favorable conditions. 

New Home Sales Surge

April's pace rose to its highest level since 2008. 

Existing Sales Continue Upward Trend

Activity among first-time buyers is on the rise. 

 

Built-for-Rent Homes Dominate Multifamily Production

Increased demand for rentals is impacting the average size of for-sale units. 

NAHB Releases New Estimates of Remodeling by ZIP Code 

Detailed records show total spending on improvements, average spending per improvement and the number of owner-occupied homes.

Industry Interests

 

Shortage of Lots is Worse than Ever

Highest percentage of builders on record report a "low" or "very low" supply of lots in their markets. 

Green Features Remain Desirable for Home Buyers

Buyers are generally willing to pay more in up-front costs to save on future utility bills, but within limits. 

Drones Used by More than One-Fifth of Builders

The size of the builder directly correlates with their three-year outlook on using drones at the jobsite.  

Trade Analysis 

Modest Cap on Canadian Lumber Threatens Nearly 9,000 U.S. Jobs

Study shows several alarming impacts of various trade barriers on softwood lumber. 

Serious Consequences of a 15% Tariff on Canadian Lumber 

Estimates indicate thousands of lost jobs and hundreds of millions of dollars in lost wages and tax revenue.