Articles
New home sales hold steady in April
In a sign that the housing market is stabilizing in the wake of the COVID-19 pandemic, sales of newly built, single-family homes rose 0.6 percent to a seasonally adjusted annual rate of 623,000 units in April, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The April rate is 6.2 percent lower than the April 2019 pace. Read More
US tile imports fell sharply in the first quarter
The figures for ceramic tile imports into the United States in the first quarter of this year confirm China’s comprehensive exit from the market (-98% in both volume and value compared to the first quarter of 2019) following the introduction of countervailing and anti-dumping duties. Read More
BEA News: Gross Domestic Product, 1st Quarter 2020 (Second Estimate); Corporate Profits, 1st Quarter 2020 (Preliminary Estimate)
Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “second” estimate released by the Bureau of Economic Analysis. Read More
Builder confidence posts solid gain
In a signal that the housing market is showing signs of stabilizing and gradually moving forward in the wake of the COVID-19 pandemic, builder confidence in the market for newly-built single-family homes increased seven points to 37 in May, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. The rise in builder sentiment follows the largest single monthly decline in the history of the index in April. Read More
Broad decline for home construction in April
In a sign of the growing economic toll from the coronavirus pandemic, total housing starts decreased 30.2 percent in April to a seasonally adjusted annual rate of 891,000 units, according to a report from the U.S. Housing and Urban Development and Commerce Department. Read More
Multifamily builder confidence weak in Q1
Confidence in the market for new multifamily housing weakened significantly in the first quarter of 2020, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The survey was conducted during the first part of April, when many of the effects of the pandemic had become apparent. Read More
Housing affordability down due to economic losses
"The affordability decline is tied to the coronavirus outbreak as job losses surged and median income fell due to reduced economic activity," said NAHB chief economist Robert Dietz. "However, housing demand started the year strong, interest rates are expected to stay at low levels for the foreseeable future and home prices have held remarkably stable over the past four quarters. As virus mitigation efforts show signs of success, workers will return to their jobs, and housing will help lead the economy to higher ground." Read More
Builder confidence in 55+ housing sees big drop
"Like the broader housing market, the 55+ housing market has taken a significant hit due to the effects of the pandemic," said NAHB chief economist Robert Dietz. "While we expect to see some further impacts in the short-term, we do expect the housing market to stabilize later this year and help lead the economy back to more solid footing." Read More
BEA News: Gross Domestic Product, 1st Quarter 2020 (Advance Estimate)
Real gross domestic product (GDP) decreased 4.8 percent in the first quarter of 2020, according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2019, real GDP increased 2.1 percent. Read More