Appalachian Lumbermen's Club

Supporting Responsible Lumber Practices

News

May 2017 Housing Report Released

Housing Stumbles in May

 The aggregate U.S. housing market hit a stumbling block in May, as most monthly indicators were negative on a month-over-month basis. However, on a year-over-year basis, the majority were positive, with the exception of total permits and starts. Problematic is construction spending, as single-family, multifamily, and improvement expenditures were negative on a month-over-month basis. These sub-sectors bear watching, as the continuation of this pattern may indicate a slowdown in the housing market. Regionally, data were mixed across all sectors. The July 11thAtlanta Fed GDPNow™ model projects aggregate residential investment spending to decrease at a -1.0% percent seasonally adjusted annual rate. New private housing was estimated to decline -2.5% and improvement spending was projected to increase 1.6% in Quarter 2. All declined from Q1’s forecasts.1

“The question is not if home prices can climb without any limit; they can’t. Rather, will home price gains gently slow or will they crash and take the economy down with them? For the moment, conditions appear favorable for avoiding a crash. Housing starts are trending higher and rising prices may encourage some homeowners to sell. Moreover, mortgage default rates are low and household debt levels are manageable.”2–David Blitzer, Managing Director and Chairman of the Index Committee, S&P Dow Jones

This month’s commentary also contains applicable housing data; new single-family and multifamily and existing housing data; single-family rental units; first-time purchasers; economic information; and demographics. Section I contains data and commentary and Section II includes Federal Reserve analysis; private indicators; and demographic commentary. We hope you find this commentary beneficial.

View full May 2017 report.
All of the archived reports can be viewed here

Appalachian Lumbermen’s Club Proudly Supports the Hardwood Forest Foundation

Hardwood Forest Foundation
Since 1989, the Hardwood Forest Foundation has worked to change student and teacher mis-conceptions about harvesting trees. You can view the video of Tommy MacDonald or learn more about the teacher materials available under activitrees, see the Truth about Trees kit, and much more. The Foundation has reached over 400,000 kids with our program and our goal is to reach one million by 2016.

Watch Tommy MacDonald’s Video…

 

Contact Us

* Required fields