US vehicle sales averaged 17.3 million units, SAAR (seasonally adjusted annual rate) per month in the first quarter, down from 18.1 million in Q4 2016. March sales were much lower than expected with an annualized rate of 16.63 million units, down 0.3 percent year on year. Light-truck sales fell from 11 million annualized units in […]
Below is the latest data release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through February 2017. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for February 2017 increased 5.5 […]
Housing starts fell 6.8 percent in March, dropping further than expected. The rate was the biggest decline in three years but still 9.2 percent higher than the rate in March 2016. According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, starts were at a seasonally adjusted annual rate of […]
The Dodge Momentum Index gained 0.9 percent in March to register 144.4. The March reading is the sixth consecutive monthly increase and has been driven mostly by new projects in institutional building. The index is a monthly measure of the initial report for nonresidential buildings in planning and leads construction spending for buildings by a […]
February data for construction put in place (CPIP) was released by the Department of Commerce on Monday March 3rd 2017. Once again this was not such a great report. Total construction is still growing though more slowly. Private construction has picked up the pace in the last three months but state and local construction is […]
U.S. light-vehicle sales fell for the third consecutive month in March as consumers choose trucks and SUVs over cars. Sedans weren’t the only vehicles to see softening this month, however. Small pickup trucks declined for the first time since August, according to data from Wards Auto. Larger pickups and SUV sales continued to grow as […]
Home prices in January gained 5.9 percent annually, according to the latest S&P CoreLogic Case-Shiller National Home Price Index. The January data shows home prices were at a 31-month high and continuing on a positive trend despite tight inventory. On a year-over-year basis, the 20-city composite was up 5.7 percent compared to 5.5 percent in […]
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development reports sale of new single-family homes jumped in February to a seasonally adjusted annual rate of 592,000, a 6.1 percent increase from January and 12.8 percent year-over-year. The median sales price of new houses sold in February 2017 was $296,200 and the […]
Existing home sales slowed in February, declining by 3.7 percent from the previous month to a seasonally adjusted annual rate of 5.84 million. According to the National Association of Realtors, the rate continues to exceed year ago levels and was 5.4 percent above the sales pace reported in February 2016. The median sale price for […]
The unseasonably warm weather in February resulted in vehicle sales being stronger than expected. On a seasonally adjusted annual basis, sales were 17.58 million units. Truck sales continued to capture market share as gas prices remained steady and incentive spending remained high. Moody’s expect auto sales to settle in at about 16.5 million units later […]
President Trump announced on Wednesday the rollback of fuel economy standards that were established by executive action near the end of the Obama administration. Speaking to automotive executives and workers in Detroit, MI, Trump said, “Today, I am announcing that we are going to cancel that executive action. We are going to restore the originally […]
Housing starts in February jumped 3 percent from January to a seasonally adjusted annual rate of 1,288,000. Single family starts gained 6.5 percent to a rate of 872,000 for its highest level in nearly ten years. Housing starts for buildings of five units or more were down 7.7 percent to 396,000. Regionally single family starts […]
Below is the latest data release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through January 2017. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for January 2017 increased 1.8 […]
The Dodge Momentum Index jumped 1.6 percent to 144.0 in February. The index, a measure of the initial planning for nonresidential building projects, made the gain from January due to an increase in institutional building activity. Planning for institutional buildings rose 4.4 percent last month while commercial planning dipped 0.3 percent. Dodge Data & Analytics […]
January data for Construction Put in Place (CPIP) was released by the Department of Commerce on Wednesday March 1st 2017. This was not such a great report. Total construction is still growing though more slowly. State and local construction are contracting. The contraction is not seasonal as we are considering year/year comparisons. At SMU we […]
Automotive sales slowed overall in February. Ford and FCA saw declines of 4 and 10 percent, respectively. There were still some strong sales among auto manufacturers, notably, GM up 4.2 percent, Nissan 3.7 percent, Subaru 8.3 percent, Mercedes-Benz 7.2 percent, and Volkwagen Group up 13.3 percent year-over-year. WardsAuto puts light vehicle sales for February at […]
Home prices continue to rise and at a faster pace, according to the data from the S&P CoreLogic Case-Shiller Indices. Home prices in the National Home Price NSA Index posted a 5.8 percent gain in December, up 5.6 percent from November and setting a 30 month high. Seattle Portland and Denver had the highest year-over-year […]
Sales of new homes climbed 3.7 percent in January to a seasonally adjusted annual rate of 555,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. January sales were 5.5 percent higher than the January 2016 estimate of 526,000. The median sales price of new […]
In January US light vehicle sales fell to 17.6 million units from 18.4 million in December on a seasonally adjusted annual basis. The decline was almost entirely in the car sector as shown in Figure 1. Even though sales declined they were still a bit stronger than expected. Drivers are (no pun intended) employment gains […]
Existing-home sales in January increased at the fastest pace since February 2007, said the National Association of Realtors. January sales grew 3.3 percent year over year to a seasonally adjusted annual rate of 5.69 million. The median existing-home price in January was $228,900, up 7.1 percent from January 2016 for the 595h consecutive month of […]
Housing starts in January declined by 2.6 percent from the revised December total but were 10.5 percent higher than the January 2016 rate, according to the latest report by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Housing starts were at a seasonally adjusted annual rate of 1,246,000. Single family […]
The Associated General Contractors of America caution that rising construction costs, coupled with restrictions on imported construction materials, may drive up prices for infrastructure and residential and nonresidential buildings. A long-term infrastructure funding mechanism will provide more benefit than Buy America policies, says the Association. A press release from AGC follows. Construction Officials Caution That […]
Below is the latest data release issued by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through December 2016. You may read the press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for December 2016 increased 1.3 […]
The January Dodge Momentum Index gained 3.9 percent to register at 142.6 from a revised reading of 137.3 in December. The index is a monthly measure of the initial report for nonresidential buildings in planning and leads nonresidential construction spending for buildings by a full year. The index is considered an indicator of future construction […]
Construction employment was at its highest level since 2008 in January, according to data analyzed by the Associated General Contractors of America. The total could be much higher if there were more skilled workers available to hire, said AGC chief economist Ken Simonson. The press release from AGC follows: Construction employment increased by 36,000 jobs […]
December data for Construction Put in Place (CPIP) was released by the Department of Commerce on Wednesday February 1st 2017. We reported last month that $305 billion infrastructure to the bill that Congress passed in December 2015 might be beginning to kick in and this perception was strengthened in the December data. At SMU we […]
U.S. auto sales slipped in January as predicted but still had a strong showing at 1.14 million vehicles when compared to the year ago total of 1.16 million. WardsAuto puts the seasonally adjusted annual rate at 17.46 million, the highest January rate since 2006. Used cars are expected to flood the market this year as […]
Home prices reached an all-time high in November, according to the latest results from S&P CoreLogic Case-Shiller Indices. The U.S. National Home Price NSA Index reported a 5.6 percent annual gain in November. Seattle, Portland and Denver had the highest gains in the 20-City Composite in November, gaining 10.4 percent, 10.1 percent and 8.7 percent, […]
Existing home sales softened after an exceptional year, decreasing 2.8 percent to a seasonally adjusted annual rate of 5.49 million in December from an upwardly revised 5.65 million in November. The National Association of Realtors called 2016 the best year for existing home sales in a decade. Sales for the year totaled 5.45 million, surpassing […]
New residential sales of single-family homes fell 10.4 percent from November’s revised rate of 598,000 to a seasonally adjusted annual rate of 536,000 in December. The U.S. Census Bureau and the Department of Housing and Urban Development reports year-over-year sales were down 0.4 percent. The drop in December was much sharper than expected by economists. […]