The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2012 was estimated at a seasonally adjusted annual rate of $827.0 billion, 0.1 percent below the revised December estimate of $827.6 billion. The January figure is 7.1 percent above the January 2011 estimate of $772.0 billion.
Spending on private construction was at a seasonally adjusted annual rate of $538.7 billion, nearly the same as the revised December estimate of $538.7 billion. Residential construction was at a seasonally adjusted annual rate of $253.6 billion in January, 1.8 percent above the revised December estimate of $249.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $285.0 billion in January, 1.5 percentbelow the revised December estimate of $289.5 billion.
In January, the estimated seasonally adjusted annual rate of public construction spending was $288.3 billion, 0.2 percent below the revised December estimate of $289.0 billion. Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 0.9 percent below the revised December estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $83.7 billion, 0.2 percent (±3.8%)* below the revised December estimate of $83.9 billion.
The Eckerman Group
Real Estate and Wealth Building Education
7345 South Durango Drive
Suite B107 #13
Las Vegas NV 89113
(702)900-9372
info@theeckermangroup.com
Wednesday, February 29, 2012
Monday, February 27, 2012
January Pending Home Sales Rise, Market on Uptrend
Pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago, according to the National Association of Realtors.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 2.0 percent to 97.0 in January from a downwardly revised 95.1 in December and is 8.0 percent higher than January 2011 when it was 89.8. The data reflects contracts but not closings.
The January index is the highest since April 2010 when it reached 111.3 as buyers were rushing to take advantage of the home buyer tax credit.
The PHSI in the Northeast rose 7.6 percent to 78.2 in January and is 9.8 percent above a year ago. In the Midwest the index declined 3.8 percent to 88.1 but is 10.8 percent higher than January 2011. Pending home sales in the South increased 7.7 percent to an index of 109.1 in January and are 10.5 percent above a year ago. In the West the index fell 4.4 percent in January to 101.9 but is 0.7 percent above January 2011.
The Eckerman Group
Real Estate and Wealth Building Education
7345 South Durango Drive
Suite B107 #13
Las Vegas NV 89113
(702)900-9372
info@theeckermangroup.com
The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 2.0 percent to 97.0 in January from a downwardly revised 95.1 in December and is 8.0 percent higher than January 2011 when it was 89.8. The data reflects contracts but not closings.
The January index is the highest since April 2010 when it reached 111.3 as buyers were rushing to take advantage of the home buyer tax credit.
The PHSI in the Northeast rose 7.6 percent to 78.2 in January and is 9.8 percent above a year ago. In the Midwest the index declined 3.8 percent to 88.1 but is 10.8 percent higher than January 2011. Pending home sales in the South increased 7.7 percent to an index of 109.1 in January and are 10.5 percent above a year ago. In the West the index fell 4.4 percent in January to 101.9 but is 0.7 percent above January 2011.
The Eckerman Group
Real Estate and Wealth Building Education
7345 South Durango Drive
Suite B107 #13
Las Vegas NV 89113
(702)900-9372
info@theeckermangroup.com
Friday, February 24, 2012
New Home Sales In January Down From December, Up From Last Year
Sales of new single-family houses in January 2012 were at a seasonally adjusted annual rate of 321,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.9 percent below the revised December rate of 324,000, but is 3.5 percent (±17.6%)* above the January 2011 estimate of 310,000.
The median sales price of new houses sold in January 2012 was $217,100; the average sales price was $261,600. The seasonally adjusted estimate of new houses for sale at the end of January was 151,000. This represents a supply of 5.6 months at the current sales rate.
The Eckerman Group
Real Estate and Wealth Building Education
7345 South Durango Drive
Suite B107 #13
Las Vegas NV 89113
(702)900-9372
info@theeckermangroup.com
The median sales price of new houses sold in January 2012 was $217,100; the average sales price was $261,600. The seasonally adjusted estimate of new houses for sale at the end of January was 151,000. This represents a supply of 5.6 months at the current sales rate.
The Eckerman Group
Real Estate and Wealth Building Education
7345 South Durango Drive
Suite B107 #13
Las Vegas NV 89113
(702)900-9372
info@theeckermangroup.com
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