via NAHB: WASHINGTON, Dec. 5 - Markets in 54 out of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI), released today. The index's nationwide score of .86 indicates that, based on current permits, prices and employment data, the nationwide market is running at 86 percent of normal economic and housing activity.
The LMI figures for November showed that 55 housing markets were operating at or above their last normal levels and the nationwide market was operating at 85 percent of normal growth.
The CoreLogic Pending Home Price Index indicates that October home prices are expected to rise by 12.5 percent on a year-over-year basis and rise by 0.1 percent on a month-over-month basis from September.
Excluding distressed sales, October 2013 home prices are poised to rise 11.2 percent year over year from October 2012 and by 0.1 percent month over month from September 2013. The CoreLogic Pending HPI is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month.
By NAHB, WASHINGTON - With home prices and household formations rising and household balance sheets healing, the ongoing housing recovery is expected to gain momentum next year even as several challenges remain, according to economists who participated in yesterday's National Association of Home Builders (NAHB) Fall 2013 Construction Forecast Webinar.
"The cards are in play for a decent and fairly strong recovery in 2014 and particularly in 2015," said NAHB Chief Economist David Crowe. "From the standpoint of GDP growth, housing has been a plus, growing at two, three and four times the rate of the rest of the economy in recent quarters."
By Sanjay Bhatt, Seattle Times business reporter (Source: Seattle Times)
The Seattle market’s home prices leaped 1.9 percent in July over the previous month and 12.5 percent over the past 12 months, according to the closely watched S&P/Case-Shiller 20-city home-price index.
Seattle, Tampa and Washington, D.C., were the only three metro areas that saw monthly price gains accelerate from June to July.
WASHINGTON — Builders began construction of single-family homes at a faster pace in August, and building permits for construction hit a five-year high, pointing to resilience in the housing market recovery in the face of higher mortgage rates.
The Commerce Department said on Wednesday that construction starts on single-family homes surged 7 percent to an annual rate of 628,000 units last month, the highest level in six months. Single-family homes are by far the largest segment of the market.
WASHINGTON, Sept. 18 - Led by a solid increase in single-family starts, nationwide housing production rose 0.9 percent to a seasonally adjusted annual rate of 891,000 units in August, according to figures released today by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Meanwhile, construction of multifamily buildings slowed following a rebound in the previous month.
"Overall, this is an encouraging report as builders are seeing pent-up demand begin to be released for single-family homes despite headwinds such as rising mortgage rates and tight credit conditions," said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C.
After living in Frederick, Md., since long before they were married, Lauren and Greg Martin decided this spring it was time to move on.
The couple's plan was to be near Boulder, where they had spent many happy vacations mountain biking and snowboarding. So Lauren, a personal trainer, and Greg, a communications engineer who telecommutes, sold their Maryland home, going from listing to a signed contract in only 10 days.
by NAHB - WASHINGTON, Aug. 16 - Nationwide housing starts rose 5.9 percent to a seasonally adjusted annual rate of 896,000 units in July as multifamily construction rebounded from a dip in the previous month, according to newly released figures from HUD and the U.S. Census Bureau. Meanwhile, single-family construction recorded a modest decline from a rate that was upwardly revised for the previous month.
"Builders are making every effort to keep up with the rising demand for new homes and apartments, and construction in both sectors is running well ahead of the pace we saw at this time last year," noted Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. "However, ongoing issues with accessing credit and limited supplies of finished lots and labor are making it tough to do that, particularly for single-family builders."