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Thursday, September 25, 2014

Architecture Billings Slip in August, but Remain Positive

The Architecture Billings Index (ABI) fell 2.8 points to a reading of 53.0 in August, after reaching its highest level in seven years in July. All three major sectors reported an increase in design activity during the month.

Wednesday, September 24, 2014

New Home Sales Surge in August to Six-Year High

New home sales spiked 18 percent in August to a 504,000-unit pace with upward revisions to previous months’ data. Much of the increase was concentrated in the Northeast and West. Inventories also rose.

Thursday, May 22, 2014

Existing Home Sales Rebound in April

Following three consecutive months of declines, existing home sales rose 1.3 percent in April to a 4.65 million-unit rate. Inventories reached their highest level since August 2012. Condo sales jumped 7.3 percent.

Building Permits Help Boost LEI in April

The Leading Economic Index rose 0.4 percent in April, led by strong gains from the interest rate spread and building permits, while both labor market components caused a slight drag.

Friday, May 16, 2014

Housing Starts Bounce Back in April

We finally got some good news on housing. Housing starts rose 13.2 percent to a 1.072 million unit pace in April, following a 2.0 percent rise in March. Housing permits rose 8 percent to a 1.08 million unit pace.

VIDEO: Monthly Economic Outlook - May 2014

Friday, April 18, 2014

Housing Starts Rebound in March

Housing starts rose 2.8 percent in March to a 946,000-unit pace. February’s data was upwardly revised from an original negative print. Single-family starts rose, while multifamily posted a negative reading.

Weather Effect Has Largely Faded
· Housing starts posted a second monthly gain in March,

increasing 2.8 percent to a 946,000-unit pace. This closelywatched

report shows that while the housing recovery hit a

snag in December and January due to weather, it is still on

track. Although today’s gain is welcome, the reading was below

consensus estimates. Moreover, permits fell 2.4 percent, but

the decline was concentrated in multifamily.

Single-Family Starts Rebound

· Single-family starts increased 6.0 percent in March to a

635,000-unit pace, the second-straight monthly gain. The

consecutive gains in single-family starts and increase in

purchase applications should alleviate fears that the housing

recovery has lost its luster. We expect single-family starts to

increase 19 percent in 2014 and 18 percent in 2015. Multifamily

starts fell 3.1 percent on the month to a 311,000-unit pace.