Cautious Optimism Heading Into Mid-Spring

 

Builder confidence in the market for newly built single-family homes was unchanged in April, remaining at a score of 58 on the NAHB/Wells Fargo Housing Market Index. This marks the third consecutive month the index has stayed at this level.

 

Construction and Sales

Builder Confidence Unchanged in April

Healthy levels of job creation and low interest rates expected to support construction growth. 

Housing Starts Fall Back to Trend

Despite a decline in March, the pace was well above that of a year ago.

Existing Sales Rebound 

Still no signs of increased activity among first-time buyers.

Household Trends

Housing Preferences Across Generations (Part III)

Nearly two-thirds of all home buyers want a single-story home. 

Young Adult Migration Slows Down Sharply 

Share of the population that moved within the country continues its downward trend.

Public Finance

Homeownership Still Offers Significant Tax Advantages

Real estate tax and mortgage interest deductions accounted for more than $100 billion in savings.

Notable Variations in Property Tax Rates

Even within the same county, real estate tax rates can vary substantially.   

State of Federal Government Finances

Congressional Budget Office paints a worrisome picture of the Fed's future.

Inflation

Prices for Energy Rise, Decline for Services 

Inflation in prices received by producers declined 0.1% in March. 

Modest Increase in Core Inflation

The Consumer Price Index rose at a seasonally adjusted annual rate of 1.1% in March.