Tag Archive for health

Housing Market Stabilizing After Long Winter

May 13, 2014 Housing Market Comments Off on Housing Market Stabilizing After Long Winter

Each month, the U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury collect key data on the housing market’s health and the results of the administration’s mortgage modification and foreclosure prevention efforts. In April, the government’s monthly Housing Scorecard found that, though home prices are still rising and foreclosures have hit their lowest level in many years, home sales slowed during the winter, with new home sales dropping to an eight-month low in March. Katherine O’Regan, HUD assistant secretary for policy development and research, said harsh winter weather, tight credit standards, and fewer distressed properties for sale combined to slow the pace of home sales. But, according to O’Regan, the housing market is stabilizing despite the rough winter months. As evidence, the scorecard highlights a 6.9 percent rise in home prices over last year, foreclosure completions at their lowest level since mid-2007, and stabilizing existing-home sales data. More here.

96% Of Local Markets Better Off Than 4 Years Ago

April 1, 2014 Housing Market Comments Off on 96% Of Local Markets Better Off Than 4 Years Ago

Among 410 U.S. counties recently analyzed by RealtyTrac, 96 percent were better off than they were four years ago, at the peak of the foreclosure crisis. The analysis looked at four key categories of housing market health, including home price appreciation, affordability, percentage of bank-owned sales, and the unemployment rate. Daren Blomquist, vice president at RealtyTrac, said the housing recovery has taken root in hundreds of counties across the country and almost all local markets are better off than they were in 2010. And most analysts expect continued improvement this year. According to Blomquist, though price gains have caused a drop in affordability in some areas, builders and homeowners that have regained equity should help boost for-sale inventory, which will balance those markets and moderate price increases. Also in the report, just 8 percent of county housing markets are better off than they were before the housing bubble burst in 2006 – but 30 percent were healthier than six years ago, when the Great Recession began. More here.

Housing Markets Nationwide Return To Normal

March 7, 2014 Housing Market Comments Off on Housing Markets Nationwide Return To Normal

The National Association of Home Builders’ Leading Markets Index is a measure of the housing market’s health that looks at housing and economic activity in 350 metropolitan areas across the country. The Index scores each area based on their average permit, price, and employment levels for the past year divided by their annual average over the last period of normal growth. According to this gauge, 59 of the 350 included metros have returned to or exceeded their last normal level of economic and housing activity. Kevin Kelly, NAHB’s chairman, said markets are returning to normal levels despite the cold weather that has constrained market activity this winter. According to Kelly, this bodes well for the remainder of 2014, as the job and housing markets continue to mend and warmer weather helps boost home sales activity. With this latest release, the number of markets operating at or above 90 percent of previous norms has climbed to 130. More here.

Builders Confident In Market For New Homes

September 18, 2013 Uncategorized Comments Off on Builders Confident In Market For New Homes

When it comes to gauging the health of the market for newly built homes, professional builders offer an unique perspective. Because of this, the National Association of Home Builders conducts a monthly survey to determine the level of confidence home builders have in the market. The survey, conducted for the past 25 years, scores builders’ confidence so that any number above 50 indicates more builders view conditions as good than poor. In September, the Index was unchanged from the previous month at 58. September’s reading follows four consecutive months of gains. Rick Judson, NAHB’s chairman, said confidence is holding at the highest level in nearly eight years but buyers are beginning to express more hesitancy due to recent increases in mortgage rates. Despite the increases, however, interest rates are still quite low based on historical norms, Judson said. More here.