Sales of new single-family housing in December 2015 increased 10.8% to 544,000 over the revised November rates of 491,000 according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development. This is a 9.9% increase from the December 2014 estimate of 495,000.
For November 2015, sales of new single-family houses were at a seasonally adjusted annual rate of 490,000 according to the U.S Census Bureau and the Department of Housing and Urban Development. This is a 9.1% increase from November 2014 and 4.3% above the revised October rate of 470,000.
According to the U.S Census Bureau of the Department of Commerce construction spending during November 2015 was at a seasonally adjusted rate of $1,122.5 billion, a 0.4% decrease from the revised October 2015 estimate of $1,127.0 billion and a 10.5% increase from the November 2014 estimate of $1,016.1 billion.
Private construction spending was at a seasonally adjusted rate of $828.2 billion with residential construction at $427.9 billion and nonresidential construction at $400.3 billion.
During the first 11 months of 2015, construction spending within the U.S amounted to $1,011.9 billion which is 10.7% above the same period in 2014.
According to the U.S Census Bureau of the Department of Commerce spending on construction during October 2015 was estimated at a seasonally adjusted annual rate of $1,107.4 billion, a 1% above the revised September estimate of $1,096.6 billion. The October 2015 figure is 13% above the October 2014 estimate of $979.6 billion.
During the first 10 months of this year, construction spending has increased 10.7% ($888.1 billion) from 2014 ($802.3 billion) during the same period. Residential construction is at a seasonally adjusted rate of $399.0 billion in October 2015, a 1% increase from the revised September estimate of $395.5 billion.
Sales of new single-family houses in October 2015 were at a seasonally adjusted annual rate of 495,000, according to the U.S Census Bureau and the Department of Housing and Urban Development. The adjusted rate for October 2015 is 10.7% above the revised September rate of 447,000 and is 4.9% above the October 2014 estimate of 472,000.0
The housing market has continued on an upward trend since the 2008 housing crisis. The National Association of Home Builders (NAHB) is projecting single-family housing starts to increase 11% to 719,000 in 2015 over 2014. In 2016, production is expected to rise 27% to 914,000 new housing starts. The NAHB associates these increases to steady employment and economic growth along with attractive mortgage rates.
“This recovery is all about jobs,” said NAHB Chief Economist David Crowe. “If people can get good jobs that pay decent incomes, the housing market will continue to move forward.”
However there are several factors that are hindering a more vigorous recovery. According to a NAHB survey of its members, 13% of builders reported cost and availability of labor as a significant problem in 2011 and that concern jumped to 61% in 2014. One-fifth of builders shared similar concerns regarding lots in 2001 and the increased dramatically to 61% in 2014. The increase in building material costs also remains a concern at 58% of those surveyed in 2014 compared to 33% in 2011.
The production of multi-family housing unfortunately has not had the same predicted growth as the single-family housing starts. With the production of multi-family units expected to increase 9% to 387,000 units this year but to have a 3% decline to 378,000 units in 2016.
As a whole, the U.S housing market has steadily improved however improvement pace has varied by region. The most successful recoveries are happening in North Dakota, Wyoming, Texas, Montana and Louisana. Other states exhibiting signs of strong employment and housing growth include South Carolina, Utah, Tennessee, Idaho, Oregon and North Carolina. While the improvement for states such as California, Arizona, Nevada, Florida and the industrial Midwest have been more difficult due to excessive price and production spikes during the 2008 crisis.
“We’ve gotten to the point in the recovery where we no longer have problems that came with the housing bust,” said NAHB Senior Economist Robert Denk. “It now is really a matter of housing markets reconnecting to the fundamental drivers, and that is employment.
Source: NAHB
According to the US Census Bureau and the Department of Housing and Urban Development the sale of new single-family houses were at a seasonally adjusted annual rate of 468,000 for September 2015. This is 11.5% decrease from the revised August 2015 rate of 529,000 but it is a 2% increase from the September 2014 estimate of 459,000.
For more information please visit: US Census Bureau
Exciting things are happening at Synergy Thermal Foils, and we want to share some important news with you. Loyalty from customers like you has fueled continued growth, making a move to a new, larger facility necessary.Our move was not very far but it has allowed us to increase the the stock of your favorite STF designs and expand our current collection line. Please make note of our new unit number. Our office phone and fax numbers will remain the same. If you have any questions or concerns please contact the office at 954-420-9553 or by emailing info@synergythermofoils.com .
1673 SW 1st Way
Unit 4
Deerfield Beach, FL 33441
Builder confidence for newly constructed single-family homes increased one point to a level of 62 on the National Association of Home Builders/ Wells Fargo Housing Market Index (HMI). This has been the highest rating since October 2005. NAHM is projecting about 1.1 million housing starts this year and the newest HMI report is consistent with the forecast. Two of the three HIM components had gains as well in September, the index measuring buyer traffic increased 2 points to 47, and the component gauging current sales conditions rose 1 point to 67.
The HMI is derived from a monthly survey at the National Association of Home Builders and gauges builder perceptions of current single-family home sales and sales expectations. Scores for each component are used to calculate seasonally adjusted index where numbers over 50 indicated that more builders view conditions as good than poor.
Sales of new single-family houses is once again on the rise for August 2015. With a seasonally adjusted annual rate of 552,000, according to the U.S Census Bureau and the Department of Housing and Urban Development. This is a 21.6% increase from August 2014 and a 5.7% increase from the revised July rate of 522,000.
Canadian Lumber produced 2.2 billion board feet in July 2015, bringing up the year-to-date total to 15.4 billion board feet. This is a 6% increase from the previous year. The provinces that saw the most gain were Alberta, up 8% to 2.3 billion board feet, and Quebec, up 5% to 3.2 billion board feet.
The USDA is once again seeking public comments on amendments made for the Hardwood Checkoff Program. The program was initially proposed in November, 2013 as a collective research and marketing effort funded by lumber producers with financial oversight, implementation, and enforcement conducted by a 28 member board run by industry owners and employees. The proposed program would highlight a single commodity, hardwood, and create a promotional campaign to increase the sales of US produced hardwood. Similar programs started by the USDA include the campaigns such as “Got Milk”, “Beef, It’s What’s for Dinner” and “Pork, the Other White Meat”.
With the newest revisions to the program that clarify export and domestic sales would be included for eligible products and changing the voting procedures for the programs participants the USDA has started to move forward following the public comments period.
Under the Hardwood Checkoff Program the funding would be from sawmill operators and kiln drying yards with annual sales greater than $2 million will be assessed $1 for every $1,000 in sales. Plywood mills with more than $10 million in annual production will pay $3 per $1,000 of production.
For more information on the Hardwood Checkoff Program please visit: Harwood Checkoff Program and No Hardwood Checkoff Program