Housing Headlines
Eye on the Economy
Lackluster GDP Growth at the Start of 2016
The initial estimate of GDP growth for the first quarter of 2016 wasn't as strong as most economists expected, coming in at an anemic 0.5% annual rate, according to the Bureau of Economic Analysis. Economic growth has been steadily softening since the second quarter of 2015, when it topped out at a 3.5% pace. The culprits include slowing personal consumption expenditures and falling exports.
Investments
Gen X Homeownership Continues to Rise
All other age groups saw declines, but growth of household formations should spur demand.
Kitchen and Bath Remodeling More Popular than Ever
Room additions and whole-house renovations also increased in frequency.
Multifamily Spending Continues Record-Breaking Pace
Residential construction spending had significant gains from one year ago.
Sales
The Five HBAs with the Lowest Owner Vacancy Rates
Four of the five associations are in the Mid-Atlantic and Midwest.
Home Price Appreciation Slows in February
A more sustainable pace of growth is expected moving forward.
Three of the four U.S. regions saw a rise in the number of signed contracts.
Share of FHA-Backed Loans Rises Slightly
Conventional loans financed more than two-thirds of new homes sold in the first quarter of 2016.
Inventory of New Homes Continues to Grow
The additional homes effectively flattened the pace of new single-family home sales.
Forecasts
GDP Growth – Double, Double Oil and Trouble
Economic growth has steadily declined since the second quarter of 2015.
Federal Open Market Committee April Meeting
The committee gave no hints about its intentions for the upcoming meeting in June.
Growth is largely driven by rises in compensation and assets revenue.
Consumer Confidence Slipped in April
Despite monthly volatility, the trends in the share of consumers planning to buy a home continue their post-recession recovery.
