Posts from August 2017
Could Tight For-Sale Inventory Depress Consumer Enthusiasm Shortly?
August 25, 2017 by Zelman & Associates
Yesterday, the National Association of Realtors released its estimate for July existing home closings. Adjusted for seasonality, transactions were up 2% year over year, leaving the trailing three-month average increase at a similar 2% level ...
Filed Under
existing home salesmacro housing
A Sign of Discretionary Home Improvement Projects Gaining Steam
August 25, 2017 by Zelman & Associates
Over the last four years, our national home improvement proxy index has increased 6.0% annually, holding in a relatively tight range of 5.8-6.2%. To frame how dramatically the market has shifted from the depths of the recession, our index was ...
Filed Under
home improvementsurvey
Second Kid Typically the Final Straw Before Heading to Suburbs
August 25, 2017 by Zelman & Associates
We recently detailed that “good” births, or births to women at least 25 years of age, were up 1.5% in 2016 based on preliminary estimates from the Center for Disease Control. While those estimates have been revised ...
Filed Under
demographicsmillennials
While Consumer Wage Growth Disappoints, Net Income Accelerates
August 25, 2017 by Zelman & Associates
Almost a year ago in an analysis titled, “Entry-Level Wage Growth Not Great, but Continuing to Improve”, we offered a relatively optimistic outlook for entry-level incomes with the growth rate improving for two key indicators in 2016 compared ...
Filed Under
entry-levelmacro housing
Fed Senior Loan Officer Survey Does Not Tell Entire Story on AD&C Lending
August 11, 2017 by Zelman & Associates
Last week, the Federal Reserve published its latest Senior Loan Officer Opinion Survey with the goal to “provide qualitative and limited quantitative information on credit availability and demand.” As it relates to residential real estate capital ...
Filed Under
apartmentsconstruction lendinghomebuilding
Consumer Intentions Contradict “Bad Time to Buy” Sentiment: Which to Trust?
August 11, 2017 by Zelman & Associates
Earlier this week, Fannie Mae released the results of its monthly consumer survey focused on housing-related consumer sentiment. According to the July feedback, “the net share of Americans who say it is a good time to buy a home fell 7 percentage ...
Filed Under
macro housingsurvey
affordabilityapartmentsbaby boomersbuild-for-rentconstruction lendingdemographicsentry-levelexisting home saleshome improvementhome pricinghomebuildinghomeownershiphousehold formationhousinghousing startsinstitutional investorsinterest ratesmacro housingmillennialsmortgagemortgage ratesnew home salesreal estate servicesrefinancesg&asingle-family rentalstocksstudent debtsupplysurvey