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Freddie Mac - 2 Daniel Vielhaber - 2 Mike Blake - 1 homebuilding - 1 Hilary - 1 Goldman Sachs - 1 Nancy Vanden Houten - 1 Jeffrey Roach - 1
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Search resuls for: "Daniel Vielhaber"


3 mentions found


☆ New Home Construction Slows as Mortgage Rates Remain High
  + stars: | 2024-06-20 | by ( Danielle Kaye | ) www.nytimes.com   time to read: +1 min
Construction of new homes in the United States dropped below expectations in May as builders pull back on new residential projects largely in response to high interest rates, reinforcing concerns about stubbornly high housing prices. Government data released on Thursday showed that new-home construction, or housing starts, fell 5.5 percent last month to an annualized rate of 1.28 million, a sign of more cracks in the already shaky housing market. Slower construction of both single-family and multifamily homes contributed to the overall drop. Building permits dipped 3.8 percent, pointing to less future construction. The magnitude of the decrease in construction last month underscores that high interest rates are both weakening housing demand and raising costs for builders — two dynamics that are ultimately contributing to builders’ reluctance to start projects.
Persons: Freddie Mac, Daniel Vielhaber Organizations: Nationwide Locations: United States
☆ US housing starts hit three-year low; surge in permits point to underlying strength
  + stars: | 2023-09-19 | by ( Lucia Mutikani | ) www.reuters.com   time to read: +6 min
The decline in housing starts reported by the Commerce Department on Tuesday was the largest in a year and occurred across the board. Housing starts tumbled 11.3% to a seasonally adjusted annual rate of 1.283 million units last month, the lowest level since June 2020. Data for July was revised lower to show starts accelerating to a rate of 1.447 million units instead of the previously reported 1.452 million units. Single-family housing starts, which account for the bulk of homebuilding, dropped 4.3% to a rate of 941,000 units last month. They were boosted by a 14.8% surge in multi-family housing permits to a rate of 535,000 units.
Persons: Mike Blake, homebuilding, Daniel Vielhaber, Hilary, Freddie Mac, Goldman Sachs, Nancy Vanden Houten, Jeffrey Roach, Lucia Mutikani, Chizu Nomiyama, Paul Simao, Andrea Ricci Organizations: REUTERS, Commerce Department, Federal, Nationwide, Reuters, U.S, Treasury, National Association of Home Builders, Oxford Economics, Realtors, LPL Financial, Thomson Locations: Rancho, San Diego , California, U.S, WASHINGTON, Columbus , Ohio, homebuilding, Northeast, Midwest, Wells Fargo, New York, Charlotte , North Carolina
☆ U.S. existing home sales plunge; tight inventory keeps prices rising
  + stars: | 2022-11-18 | by ( Lucia Mutikani | ) www.reuters.com   time to read: +5 min
"The combination of rising house prices and mortgage rates have sent housing affordability plummeting," said Daniel Vielhaber, an economist at Nationwide in Columbus, Ohio. The 30-year fixed mortgage rate breached 7% in October for the first time since 2002, according to data from mortgage finance agency Freddie Mac. "A deteriorating housing market, nagging inflation and an aggressive Fed puts the economy on unsure footing for 2023." Even as demand weakens, housing supply remains tight, limiting the slowdown in house price inflation. The median existing house price increased 6.6% from a year earlier to $379,100 in October.
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