Robert Dietz
Chief Economist at Eye On Housing (NAHB)
Chief Economist, National Association of Home Builders (@nahbhome). Former Joint Committee on Taxation economist.
Articles
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1 week ago |
eyeonhousing.org | Robert Dietz
The Federal Reserve remained on pause with respect to rate cuts at the conclusion of its May meeting, maintaining the federal funds rate in the 4.25% to 4.5% range.
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2 weeks ago |
eyeonhousing.org | Robert Dietz
Consistent with soft sentiment data, the count of job openings for the overall economy and construction fell in March as employers slowed hiring plans amid a broader economic slowdown, per the March Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy declined from 7.48 million in February to 7.19 million in March.
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3 weeks ago |
eyeonhousing.org | Robert Dietz
A modest decline in mortgage rates and lean existing inventory helped boost new home sales in March even as builders and consumers contend with uncertain market conditions. Sales of newly built, single-family homes in March increased 7.4% to a 724,000 seasonally adjusted annual rate from a revised January number, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
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4 weeks ago |
eyeonhousing.org | Robert Dietz
Growing economic uncertainty stemming from tariff concerns and elevated building material costs kept builder sentiment in negative territory in April, despite a modest bump in confidence likely due to a slight retreat in mortgage interest rates in recent weeks. Builder confidence in the market for newly built single-family homes was 40 in April, edging up one point from March, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
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1 month ago |
eyeonhousing.org | Robert Dietz
After a period of slowing associated with declines for some elements of the residential construction industry, the count of open construction sector jobs remained lower than a year ago, per the February Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy declined from 7.76 million in January to 7.57 million in February.
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New single-family home sales end 2024 up 2.5% compared to 2023. Total home inventory - new plus resale - made up about a 4 months' supply at the end of 2024, below the 6 measure typically considered balanced. https://t.co/BZgjbzN9YK
Single-family starts ended 2024 up 6.5%. The number of single-family homes under construction is down 5.3% from Dec 2023. The number of apartments under construction is down 21% from Dec 23. Missing middle multifamily (2 to 4 unit) up more than 40% in `24. https://t.co/rR74upRgIV
Builder confidence up slightly in January with countervailing positive and negative risks ahead: https://t.co/VBKTS56jx7