Eye On Housing
Author Archives
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Housing Construction Rebounds
After a dismal June report, housing starts rebounded to an annual rate of 1.093 million for a 15.7% increase over the upwardly revised June level. The substantial June dip caused by a fall in single-family construction in the South was wiped out as single-family construction rose 8.3% for the US with increases in three of the four regions. Midwest single-family… Read More ›
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Housing Construction Rebounds
After a dismal June report, housing starts rebounded to an annual rate of 1.093 million for a 15.7% increase over the upwardly revised June level. The substantial June dip caused by a fall in single-family construction in the South was wiped out as single-family construction rose 8.3% for the US with increases in three of the four regions. Midwest single-family… Read More ›
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Builders’ Confidence Continues to Build
Home builders confidence is marching toward the 2014 high established in January as more buyers return to the market. The August NAHB/Wells Fargo Housing Index rose two more points to 55 approaching the 2014 high in January of 56. All three subcomponents of the index also increased, two to a high for the year. Expectations for the next six months… Read More ›
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Builders’ Confidence Continues to Build
Home builders confidence is marching toward the 2014 high established in January as more buyers return to the market. The August NAHB/Wells Fargo Housing Index rose two more points to 55 approaching the 2014 high in January of 56. All three subcomponents of the index also increased, two to a high for the year. Expectations for the next six months… Read More ›
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Local Economies Continue to Advance
The NAHB/First American Leading Markets Index advanced one point in the second quarter 2014 to .89 from a June level of .88. The index measures the US and 351 metropolitan markets’ proximity to normal economic and housing market activity. A value of one or more means the market is back to or above a normal level with an average of… Read More ›
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Eye on the Economy: New Home Sales Disappoint in June
New homes sales declined in June, falling 8.1% from a revised May rate to a seasonally adjusted annual pace of 406,000, according to data from the Census Bureau and HUD. It’s a return to the trend in place since March of this year, with gains expected in the months ahead as the labor market and the overall economy improve. New… Read More ›
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Eye on the Economy: Housing Starts Pause and Existing Sales Rise
Existing home sales posted a third monthly increase in June, passing a 5 million annualized sales pace for the first time since October of 2013. The recent gains reverse the negative trend that had set in after an increase in mortgage interest rates in the fall followed by an unusually long winter in some parts of the country. However, gains… Read More ›
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Housing Construction Pauses
According to the Census Bureau and HUD, housing starts activity dipped 9.3% in June to an 893,000 seasonally adjusted annual rate. The drop was concentrated in the South region where single-family starts fell 70,000, accounting for more than the total national drop of 57,000. Multifamily starts also fell 88,000 units in the South accounting for more than the 35,000 total… Read More ›
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Builder Confidence Surpasses Key Benchmark in July
Builder confidence in the market for newly-built single-family homes rose four points to a reading of 53 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Any reading over 50 indicates that more builders view sales conditions as good than poor. The July reading marks the first time since January that the index has been above a level of… Read More ›
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Eye on the Economy: Home Sales Surge after Slow First Quarter
Housing news continued to improve as pending home sales surged following a slow first quarter. Home prices also continued to move higher but at a more moderate pace, suggesting the extra push caused by investors may be slowing. Economic news, however, was mixed. Consumer confidence increased in response to improving labor market conditions. On the other hand, new estimates from… Read More ›