Housing Chart Book
Image 1 of 19
AAF HOUSING RECOVERY INDICES
The AAF Housing Recovery Indices are diffusion indices that measure the dispersion of recovering indicators amongst 360 U.S. metropolitan areas. Each index is based on a different indicator that affects the recovery of the overall housing market—housing permits, house prices, and nonfarm payroll employment. When an index stands above 50, the indicator has been improving in the past year in a majority of metro areas; below 50 and that indicator has declined. The data is derived from the U.S. Census Bureau, Bureau of Labor Statistics, and Freddie Mac along with calculations made by the American Action Forum.
Image 2 of 19
NEW HOME SALES
Data on new residential sales is released monthly by the Census Bureau in conjunction with HUD, detailing the number of new single-family houses sold in a given month in the United States. This measure excludes the sales of multifamily units like condominiums and apartments. The overall number of sales has declined significantly from the peak of the housing bubble but seems to have flattened. On the left axis is sales not seasonally adjusted. On the right axis is sales seasonally adjusted to an annual rate. Source: www.census.gov/construction/nrs/ Data Release: www.census.gov/construction/nrs/pdf/newressales.pdf
Image 3 of 19
S&P/CASE-SHILLER 20-CITY HOME PRICE INDEX
The S&P/Case-Shiller home price index is released monthly for the one two months previous. The release is an index of home prices in 20 of the largest metropolitan areas across the country. It is a reputable and widely reported indicator of home prices. Home prices have declined significantly since their peak in 2006, and continue to decline in some markets. Source: Source: www.standardandpoors.com/indices/sp-case-shiller-home-pri...
Image 4 of 19
FHFA HOUSE PRICE INDEX
Similar to the Case-Shiller Index, the Federal Housing Finance Agency's House Price Index (HPI) a broad measure of single-family house prices. Information for the index is derived from properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac from all 50 states and the DC area. Following the housing bubble, prices declined and are now beginning to level. Source: www.fhfa.gov/Default.aspx?Page=87 Data Release: www.fhfa.gov/Default.aspx?Page=85
Image 5 of 19
NAR HOUSING AFFORDABILITY INDEX
The National Association of Realtors releases updated numbers on housing affordability monthly. The measure is an index in which the value of 100 means a family has exactly enough income to qualify for a mortgage on a median-priced home. Measures above 100 mean that a family has more than enough income to qualify. Since the housing bubble, home affordability has been high, a positive sign for a recovery in demand. Source: research.stlouisfed.org/fred2/series/COMPHAI Data Release: www.realtor.org/topics/housing-affordability-index
Image 6 of 19
HOUSING STARTS
Housing starts and permits data are released by the Census Bureau as part of its "New Residential Construction" report. Housing starts are seasonally adjusted and count only privately-owned housing starts. Starts and permits are important indicators on the supply side of the housing market. This charts divides starts by region. Source: www.census.gov/construction/nrc/historical_data Data Release: www.census.gov/construction/nrc/pdf/newresconst.pdf
Image 7 of 19
HOUSING STARTS
Housing starts and permits data are released by the Census Bureau as part of its "New Residential Construction" report. Housing starts are seasonally adjusted and count only privately-owned housing starts. Starts and permits are important indicators on the supply side of the housing market. Starts are divided here between single family units and multifamily units, like apartments and condominiums. Source: www.census.gov/construction/nrc/historical_data Data Release: www.census.gov/construction/nrc/pdf/newresconst.pdf
Image 8 of 19
HOUSING PERMITS
Housing starts and permits data are released by the Census Bureau as part of its "New Residential Construction" report. Building permits are also seasonally adjusted and only apply to privately-owned housing units recently authorized by building permits. Starts and permits are important indicators on the supply side of the housing market. Permits are divided here between single family units and multifamily units, including apartments and condominiums. Source: www.census.gov/construction/nrc/historical_data Data Release: www.census.gov/construction/nrc/pdf/newresconst.pdf
Image 9 of 19
AVERAGE 15- & 30-YEAR FIXED RATE MORTGAGES
The Freddie Mac Weekly Primary Mortgage Market Survey (PMMS) reports the average popular 15- and 30-year fixed rates for mortgage products. It comes from a survey of lenders and is based on first-lien prime conventional conforming mortgages with a loan to value ratio of 80 percent. Current rates, near historic lows, will potentially aid the housing recovery by incentivizing buying. The 15-year fixed rate is additionally important for homeowners looking to refinance. Source: www.freddiemac.com/pmms/
Image 10 of 19
RESIDENTIAL CONSTRUCTION SPENDING
Residential construction spending data releases are monthly estimates of the total dollar value of construction of residential properties. Information on residential construction comes from a larger compilation of all construction work, including construction both privately and publicly funded. The levels of public and private residential construction spending are shown here. Source: www.census.gov/construction/c30/historical_data.html Data Release: www.census.gov/construction/c30/pdf/release.pdf
Image 11 of 19
NAHB/WELLS FARGO HOUSING MARKET INDEX
The National Association of Home Builders (NAHB) releases its Housing Market Index monthly to record builder sentiment on the demand side of the single-family housing market. The index is frequently used in assessments of housing market conditions. It is derived from a survey of builders who rate the market based on sales and expectations. Source: www.nahb.org/reference_list.aspx?sectionID=134
Image 12 of 19
PRIVATE RESIDENTIAL CONSTRUCTION SPENDING
Residential construction spending data releases are monthly estimates of the total dollar value of construction of residential properties. Information on residential construction comes from a larger compilation of all construction work, both privately and publicly funded. Private residential construction spending is split here between single-family and multifamily housing, which includes apartments and condominiums. Source: www.census.gov/construction/c30/historical_data.html Data Release: www.census.gov/construction/c30/pdf/release.pdf
Image 13 of 19
RESIDENTIAL CONSTRUCTION SPENDING
Residential construction spending data releases are monthly estimates of the total dollar value of construction of residential properties. Information on residential construction comes from a larger compilation of all construction work, both privately and publicly funded. This chart shows residential spending as a percentage of all construction spending Source: www.census.gov/construction/c30/historical_data.html Data Release: www.census.gov/construction/c30/pdf/release.pdf
Image 14 of 19
MORTGAGE DEBT OUTSTANDING
Data on the total amount of mortgage debt outstanding is released quarterly as part of a larger report on the flow of funds accounts of the United States released by the Board of Governors of the Federal Reserve. Mortgage debt, like other forms of debt, can have a very real impact on consumer spending and the overall economy. Source: research.stlouisfed.org/fred2/series/hhmsdodns Data Release: www.federalreserve.gov/releases/z1/Current/z1.pdf
Image 15 of 19
MBA MORTGAGE ORIGINATION ESTIMATES
The Mortgage Bankers Association releases data on the number of mortgages originated each quarter. Mortgages originations, shown in dollars, indicates the level of market activity. Divided here between original purchases and refinances provides even greater insight into the types of originations and the condition of the market recovery. Source: www.mortgagebankers.org/ResearchandForecasts/Forecastsand...
Image 16 of 19
HOME & RENTAL VACANCY RATES
The homeowner vacancy rate is the proportion of the homeowner inventory which is vacant for sale. The rental vacancy rate is the proportion of the rental inventory which is vacant for rent. Both having important implications for the housing market. They gauge the economic climate by estimating the percentage of vacant units among all housing inventory. Inventory factors into home prices and the general outlook of the market. Source: www.census.gov/hhes/www/housing/hvs/historic/index.html Data Release: www.census.gov/hhes/www/housing/hvs/currenthvspress.pdf
Image 17 of 19
LOAN DELINQUENCY RATES
Delinquency rates on all loans secured by real estate and commerical banks are released by the Board of Governors of the Federal Reserve. Seasonally adjusted, the measure indicates the percentage of borrowers who have been unable to make timely payments on their loans. This measure is reflective of the overall economy and macroeconomic factors like unemployment. This data is released quarterly with the Fed report on "Charge-Off and Delinquency Rates on Loans and Leases at Commerical Banks." Source: research.stlouisfed.org/fred2/series/DRSREACBS Data Release: www.federalreserve.gov/releases/chargeoff/default.htm
Image 18 of 19
HOUSEHOLD REAL ESTATE EQUITY
The amount of household real estate equity is the total net worth of household real estate holdings in the United States. As home prices plummeted with the bursting of the housing bubble, home equity plummeted. The loss in equity cannot be regained without economic growth and higher home prices. Household home equity data is released quarterly as part of the Z.1 Flow of Funds Accounts of the United States by the Board of Governors of the Federal Reserve System. Source: research.stlouisfed.org/fred2/series/OEHRENWBSHNO Data Release: www.federalreserve.gov/releases/z1/Current/z1.pdf
Image 19 of 19
HOMEOWNERSHIP RATE
Federal policy has long played a role in incentivizing homeownership. The homeownership rate, released by the Census Bureau quarterly, is an important indicator for the larger economy because of the outlying effects of homeownership. With the rising trend towards rental housing, the homeownership rate has been closely watched. It is calculated by dividing all owner-occupied units by the total number of occupied housing units in the United States. The current rate is the lowest in more than 10 years. Source: www.census.gov/hhes/www/housing/hvs/historic/index.html Data Release: www.census.gov/hhes/www/housing/hvs/currenthvspress.pdf
