Housing and Economic Activity: National Update

first_imgHome / Daily Dose / Housing and Economic Activity: National Update Servicers Navigate the Post-Pandemic World 2 days ago Previous: Metro-West Appoints VP of Appraiser Advancement Next: HUD Secretary to Work on Big Banks’ Lending Practices in Daily Dose, Featured, Headlines Housing and Economic Activity: National Update The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Share Save October 23, 2017 1,130 Views The Best Markets For Residential Property Investors 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago  On Monday, the Federal Reserve Bank of Chicago released its monthly index for October 2017—the Chicago Fed National Activity Index (CFNAI)— reporting the overall economic activity across the U.S.The index, which was constructed using data available as of October 19, 2017, analyzes economic activity based on summarizing variation in 85 data series classified into four main categories.So how does the Chicago Fed organize this data? The CFNAI is designed so that periods of economic expansion have values of above negative 0.70. Meanwhile, periods of economic contraction have values below negative 0.70.According to the index, the overall economic activity reported an increase in growth with a positive 0.17 in September, compared to a negative 0.37 in August.However, despite this slight increase in September, the index reports that month-to-month movements are volatile. Therefore, the index also evaluates a three-month moving average to provide a more consistent picture of national economic growth—the most recent three-month moving average was unchanged at negative 0.16 in September.The contribution of the housing category to the CFNAI is combined with personal consumption—representing an increase to negative 0.07 in September from negative 0.11 in August.However, housing starts decreased to about 1.13 million annualized units in September from about 1.2 million in August. In addition, the index notes that housing permits decreased to about 1.23 million in annualized units in September, which is a decrease from 1.27 million in the previous month. Conversely, consumption indicators improved, which increased the category’s overall contribution to the economy.In addition, the report’s job-market gauge was a positive contributor to the economy, increasing to positive 0.06 from positive 0.01 in the previous month.To view the full report and other indicators impacting the U.S. economy, click here. Related Articles About Author: Nicole Casperson 2017-10-23 Nicole Casperson The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days agolast_img

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