Lunch & Learn: The State of Housing

As housing supply dwindles, affordability concerns grow while competition heats up the market. This Lunch & Learn will examine the current state of housing, featuring experts who have an eye on the market.

HousingWire Annual Virtual Summit

Join us on October 25 for a chance to see a handpicked selection of sessions from HousingWire Annual along with technology demos from the most innovative tech companies! Register now for FREE to experience HW Annual just like you were there.

How credit scores impact lenders’ pipelines in a purchase market

When a lender works with a borrower to improve their credit score, they are able to offer the most competitive rate and terms. Learn more here!

Volly’s Grant Moon on challenges facing veterans

In this episode of HousingNews, we are joined by Grant Moon who discusses the difficulties veterans face during the home-buying process and misconceptions about VA loans.

Why is public construction spending tanking?

Private spending growth offsets decline for a mediocre December

Construction rose tepidly in December, with private home building offsetting a decline in public construction.

Despite the modest growth, construction spending is now reaching its greatest level of activity since March 2009.

Total spending climbed a mere 0.1% after a 0.8% growth in November. Strength was in private residential outlays which jumped 2.6% in December, following a 1.1% rise the month before.

By subcomponents, new single-family outlays gained 3.4% in December, while new multifamily rose 0.5%. Ex-new homes increased 2.0% in December. Private nonresidential construction spending dipped 0.7%.

Total construction activity for December 2013 was $930.5 billion, 0.1 percent above the revised November 2013  total of $929.9 billion.

Public outlays fell 2.3% after a 1.4% decline in November, reaching its lowest level in 12 months.

Total construction outlays were up 5.3% on a year-ago basis in December.

Homebuilders are more optimistic than recent sales numbers. This could be a response to lack of supply and concern that mortgage rates are likely to rise later this year as the Federal Reserve cuts back on purchases of mortgage-backed securities.

Market Consensus before announcement Construction spending jumped 1.0% in November, following a 0.9% gain the month before.

The November increase was led by the nonresidential and residential components. Private nonresident outlays grew 2.7%, following an increase of 0.5% in October. Public outlays declined 1.8% but followed a sizable 3.1% boost in October.

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Over the last month, two of the biggest housing regulators either changed or were rumored to change leadership. Senior Mortgage Reporter Georgia Kromrei helps shed some light on these changes in this Q&A. HW+ Premium Content

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3d rendering of a row of luxury townhouses along a street

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