CR Note: This is from housing economist Tom Lawler. Meritage Homes, the 11th largest US home builder in 2009, reported that net home orders in the quarter ended 6/30/10 totaled 900, down 21.5% from the comparable quarter of 2009. Home deliveries, in contrast, jumped by 35.6% from a year ago to 1,207, reflecting buyers’ (and the builders) rush to close prior to the expected 6/30 closing date deadline for the federal home buyer tax credit
Posts Tagged census
Earlier today the Census Bureau released the homeownership and vacancy rates for Q2 2010. I posted a few graphs this morning, and I noted that the homeownership rate had fallen to the 1999 level of 66.9%. A few years ago - when the homeownership rate was at 69%, I forecast that the rate would probably fall to the 66% to 67% range
Foreclosures and a buyer’s strike may be the most visible enemies of a recovery in the housing market. Vacancy rates in homes and apartments could be just as severe a drag
The Administration said last week in its mid-year report to Congress that unemployment would remain above 9% until the beginning of 2012. That goal may be a struggle, as there is growing evidence that companies large and small will squeeze productivity out of current employees rather than take the financial risk of increased personnel expenses
The Census Bureau reported the homeownership and vacancy rates for Q2 2010 this morning.
Ignore all the month to previous month comparisons.
The focus this week will be on the Q2 GDP report to be released on Friday. There are also two key housing reports: New Home Sales on Monday and Case-Shiller house prices on Tuesday. On Monday, the June Chicago Fed National Activity Index will be released at 8:30 AM.
Obama Housing Scorecard
Jul 20
The Obama Administration released the June Housing Scorecard today. The graphs are a little hard to read, but they do provide a list of sources. On modifications they provide a graph showing 2.95 million total modifications for Hope Now, HAMP, and FHA loss mitigation (page 3).
A quick summary of the week
Jul 17
NFIB Survey showed small businesses were more pessimistic in June Ceridian Diesel Fuel index showed a sharp decline in June The Census Bureau reported the trade deficit increased in May. The BLS reported low labor turnover in May.
