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Thursday, January 22, 2015

Architectural Billings End 2014 on a Good Note

The Architecture Billings Index rose to 52.2 in December, a reading that is consistent with continued gains in construction outlays. Nonresidential sectors showed expansion, but the reading remained at a low level.

Wednesday, January 21, 2015

Housing Starts Finish 2014 Strong

Housing starts rebounded in December to a 1.089 million-unit pace, with upward revisions to November. The single-family market was particularly strong, though permits indicate more modest growth ahead.

VIDEO: Wells Fargo Monthly Economic Outlook - January 2015

Friday, January 9, 2015

Housing Data Wrap-Up: January 2015

Even though 2014 proved to be a disappointing year for home sales and new single-family construction, there are several reasons to be optimistic about the housing sector in the New Year. Most importantly, job growth has improved to the point that household formations are rising again. State-to-state migration has also improved, reflecting more boomers moving into retirement and an increase in corporate relocations. Mortgage rates have also come back down, with the rate on converntional 30-year fixed mortgages falling below 4 percent. When coupled with easing credit standards and more moderate gains in home prices, the pieces all appear to be in place for a more meaningful recovery in home sales. We have slightly raised our forecast for 2015, reflecting stronger household formations.

Source:  Wells Fargo