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Friday, December 20, 2013

Housing Starts Surge to a Five-Year High



Housing starts surged 22.7 percent in November to a 1.091 million-unit pace. Single-family starts jumped 20.8 percent, while multifamily starts spiked 26.8 percent. The gains are likely exaggerated by seasonal factors.

Friday, December 6, 2013

New Home Sales Beat Expectations in October



New home sales rose a solid 25.4 percent in October, but fell 6.6 percent in September. On a regional basis, gains were broad-based. However, inventories remained at a historically low level falling on the month.

Saturday, September 28, 2013

New Home Sales Rebound in August

Following a sharp decline in July, new home sales rose 7.9 percent in August to a 421,000-unit annual pace. Previous months’ data were downwardly revised. Inventories rose 3.6 percent on the month.

Friday, September 20, 2013

Existing Home Sales Unexpectedly Climb in August



The threat of higher mortgage rates encouraged would-be homebuyers to go ahead and close the deal last month. Looking ahead, sales activity is likely to be uneven but should continue to trend higher.

Buyers Close Deals on Rate Scare Following a 6.5 percent gain in July,
total existing home sales unexpectedly increased 1.7 percent in August to an annualized
pace of 5.48 million units, a six-and-a-half year high. Similar
sized monthly gains were seen in single family and condos.

By region, higher sales activity was seen in the South and
Midwest. Sales in the Northeast were flat while sales in the
West declined 2.3 percent following a strong July gain.
In the Face of Rising Rates, Sales Outlook Still Solid

Home price appreciation remained solid last month, as single family
home prices are up 14.4 percent year-over-year. Fewer
distressed properties and lean inventories continue to support
home price appreciation.

We remain positive on the outlook as the U.S. economy
continues to advance with moderate job growth

Leading Indicators Point Toward Further Growth



The Leading Economic Index (LEI) rose 0.7 percent in August with nearly all components pointing toward continued growth. Financial indicators were the biggest support, while permits were a negative.

The sole negative in today’s report stemmed from building
permits. Permits fell in August on the heels of a decline in the
volatile multifamily sector, but single-family permits point to the
housing market continuing to recover after a slow summer.

Single-Family Starts Rebound in August



Housing starts rose 0.9 percent in August to an 891,000-unit pace with all of the gain in single-family. Single-family starts rose 7.0 percent, while multifamily starts fell 11.1 percent. Permits dipped 3.8 percent.

VIDEO: Monthly Economic Outlook - September


Friday, September 6, 2013

Construction Spending Posts Another Gain in July

Construction spending rose 0.6 percent in July, which shows consistent improvement. While private residential and nonresidential spending increased on the month, public outlays were down 0.3 percent.

Saturday, August 31, 2013

August Housing Data


The housing recovery hit a speed bump during the past few months. Single-family housing starts fell 2.2 percent in July and permits were down 1.9 percent. New home sales also showed weakness, plunging 13.4 percent in July. While existing home sales posted a solid 6.5 percent gain in July, pending home sales, which tends to lead existing home sales by about one to two months, fell 1.3 percent on the month. Even purchase applications, which had only shown tepid growth previously, have witnessed a setback, with applications down about 11 percent over the past three months.

Wednesday, May 15, 2013

PRESS RELEASE



FOR IMMEDIATE RELEASE
May 15, 2013

Delta Gypsum Hosts Free Cookout Fundraiser for 22-Year NonProfit Partner

All Proceeds to Benefit Passage Home in its $120K Stewards Fund Challenge

WAKE FOREST, N.C.
Delta Gypsum has announced that they will host a free parking lot “Cookout with a Cause” party on Friday, May 17 from 11:30 a.m. to 1:00 p.m. at their headquarters in Wake Forest. The cause: to help 22-year local nonprofit partner, Passage Home, meet its $120K Stewards Fund Challenge. Because the cookout falls during the Challenge’s matching period, every gift donated will be doubled.

 “I believe it’s a corporation’s responsibility to give back to the communities in which they provide goods and services, no matter how big or small the business,” said David Ritchie, vice president of Delta Gypsum. “We want our supporters to take pride in knowing that we support local causes and keep their money in this community.” 

The Stewards Fund Challenge is an all-or-nothing grant that will match any gifts made by new or lapsed donors to Passage Home from March 15 to June 15, 2013. John Kindt, President of Delta Gypsum, believes it’s a cause well-worth supporting. 

“Passage Home provides the life skills needed to break the cycle of poverty and we all benefit when we give people the tools they need to succeed,” he said. 

Delta Gypsum has been a steady and consistent Passage Home corporate supporter since 1991 when they contributed their dry wall product to help us build our first housing project,” said Jeanne Tedrow, co-founder and executive director of Passage Home. 

 “Our common goals led me to support them 22 years ago and my respect for Jeanne’s relentless passion has made it easy to continue our support,” stated Phil Ritchie, Delta Gypsum founder and Passage Home board member. 

Delta Gypsum is the last family-owned drywall supplier in the area, with locations in Burlington, Raleigh, Durham and Wake Forest. The company supplies drywall, steel studs, insulation and acoustical ceilings throughout North Carolina. Several board and advisory board members are hosting intimate “Parties with a Purpose” to help Passage Home reach its $120k goal. For more information on Passage Home, visit www.passagehome.org, like Passage Home on Facebook and follow @PassageHome on Twitter.

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About Delta Gypsum:  Delta Gypsum, LLC. was founded in 1989, in Graham, North Carolina as a distributor of wallboard and related building products. The company is headquartered in Wake Forest, N.C. with additional locations in Burlington, Raleigh / Durham and Jonesborough, TN. Delta Gypsum was founded by Phil Ritchie, who is continuing his mid-Atlantic premium-distributorship legacy through son-in-law and Delta Gypsum President, John Kindt as well as son and Delta Gypsum Vice President, David Ritchie. The new leadership team will continue to usher in the next generation of business as it expands and serves its loyal customers and friends.
About Passage Home: Founded in 1991 and headquartered in Raleigh, N.C., Passage Home is a 501(c)(3) community development corporation that fights poverty and homelessness in the Triangle by providing a hand up, not a hand out. Through its network of corporations, congregations, and community organizations, Passage Home focuses on four core programs to help break the cycle of poverty: housing and support services, neighborhood revitalization, economic development and youth development. The company is comprised of 22 full-time employees, four part-time employees and more than 500 volunteers. For more information on Passage Home, visit www.passagehome.org, like Passage Home on Facebook and follow @PassageHome on Twitter.

Media Contact:
Caitlin Clinard
Angel Oak Creative

caitlin@angeloakcreative.com
(919) 607-3507