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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8% in February on a seasonally adjusted basis after rising 0.6 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.9% before seasonal adjustment. Read More

New findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) show that the rate of year-over-year single-family growth in all small and large metro urban, suburban and rural regional submarkets peaked in the second quarter of 2021. While that expansion has cooled somewhat, growth rates in all markets remained in double-digits in the final quarter of 2021. In contrast, multifamily growth in all of these markets has been surging since the second quarter as some housing demand returned back to higher density markets.  Read More

Construction spending during January 2022 was estimated at a seasonally adjusted annual rate of $1,677.2 billion, 1.3% above the revised December estimate of $1,655.8 billion, according to the U.S. Census Bureau.  Read More

Confidence in the market for new multifamily housing improved in the fourth quarter of 2021, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB). Read More

“For the full year, Mohawk’s business improved significantly,” said Jeffrey S. Lorberbaum, Mohawk’s Chairman and CEO. “Our fourth quarter sales remained strong, driven by a robust residential new construction and remodeling environment. Commercial sales improved as well, though they still lagged pre-pandemic levels. Earnings in the quarter benefited from improved price, mix and productivity.” Read More

“The average rate for a 30-year fixed-rate loan was 3.89%, mortgage-finance giant Freddie Mac said Thursday, down slightly from 3.92% last week. At the beginning of the year, the average rate on America’s most popular home loan was 3.22%. Read More

Projections for 2022 show a robust average annual growth in home improvement spending of 13.8% across all 48 major metropolitan areas tracked, with owner expenditures expected to grow between 7.6% and 23.0%. Read More

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today: Personal income increased $9.0 billion, or less than 0.1 percent at a monthly rate, while consumer spending increased $337.2 billion, or 2.1 percent, in January. Read More

New home sales declined in January on rising interest rates but still posted a steady reading as demand remains strong. Read More

Confidence in the market for new multifamily housing improved in the fourth quarter of 2021, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). Read More