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.
Positive contributions included personal consumption expenditures, residential fixed investment, state and local government spending, and negative import growth.
Several incoming economic data releases will be strong indicators of the Federal Open Market Committee's upcoming decision to potentially raise interest rates.
However, the pace of easing continues to slow from previous periods.
The dollar value of mortgage originations has risen each quarter for two consecutive years.
Sales and Production Assessments
Healthy gains in the South and West, while the Northeast and Midwest stayed much the same.
Latest index marks 17 consecutive quarters in which most builders reported favorable conditions.
April's pace rose to its highest level since 2008.
Activity among first-time buyers is on the rise.
Increased demand for rentals is impacting the average size of for-sale units.
Detailed records show total spending on improvements, average spending per improvement and the number of owner-occupied homes.
Highest percentage of builders on record report a "low" or "very low" supply of lots in their markets.
Buyers are generally willing to pay more in up-front costs to save on future utility bills, but within limits.
The size of the builder directly correlates with their three-year outlook on using drones at the jobsite.
Study shows several alarming impacts of various trade barriers on softwood lumber.
Estimates indicate thousands of lost jobs and hundreds of millions of dollars in lost wages and tax revenue.