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US New and Existing Home Sales: April 2015
Following the pullback seen in the previous month, the Commerce Department released a report on Tuesday showing that US new home sales climbed 6.8 per cent to an annual rate of 517,000 in April from the revised March rate of 484,000. Meanwhile, the National Association of Realtors reported Thursday that the median price of an…
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US Housing Starts: May 2015
Groundbreakings of new homes in the US surged to a seven-year high in April before falling 11 per cent last month, the Commerce Department said Tuesday. The level of activity remained stable in May at an annual rate of 1.04 million units, and signs pointed to further gains in coming months. Housing Starts, US US…
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US Construction Spending: April 2015
NAHB analysis of Census construction spending data released Monday finds that the pace of residential construction spending improved on both a monthly and year-over-year basis for April. For the month, the seasonally adjusted annual rate of single-family construction spending was US$206 billion, up 1.6 per cent from March. The April rate of multifamily construction spending…
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US Home Price Index: March 2015
The Federal Housing Finance Agency and the Standard and Poor’s/Case-Shiller recently released Monday the Home Price Index for March. The price index reported by the Federal Housing Finance Agency (FHFA) decelerated in March, slowing to an annualized growth rate of 4.2 per cent, from 7.8 per cent in February. Monthly growth rates have been volatile…
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US Built-for-Rent Starts: 1Q 2015
US single-family homes built-for-rent declined to approximately 2,000 starts for 1Q 2015, compared to about 4,000 at the start of 2014. The share and count of built-for-rent starts are off post-recession highs and will approach historical norms as the housing market continues to expand. However, given the relatively small size of this market, care must…
