Tag Archive for nahb

Majority Of Homes Affordable At Median Income

November 19, 2013 Housing Market Comments Off on Majority Of Homes Affordable At Median Income

The National Association of Home Builders Housing Opportunity Index measures the percentage of new and existing homes that are affordable to families earning their areas’ median income. According to the most recent index, 64.5 percent of homes sold between the beginning of July and the end of September were affordable for a family earning the median U.S. income of $64,400. This is down from 69.3 percent in the second quarter. David Crowe, NAHB’s chief economist, said the more than year-long steady increase in home prices is primarily responsible for recent decreases in affordability. According to Crowe – though affordability has come down from its peak in early 2012 – a family earning the median income can still afford a majority of the homes available in the current market. More here.

Builder Confidence Slips Slightly In October

October 17, 2013 Housing Market Comments Off on Builder Confidence Slips Slightly In October

Builders were slightly less optimistic about the market for newly built, single-family homes in October, according to the National Association of Builders’ Housing Market Index. The Index measures builder confidence on a scale where any number above 50 indicates more builders view conditions as good than poor. In October, the Index fell two points to 55. According to NAHB chief economist, David Crowe, the government shutdown contributed to the slip in confidence. Crowe said the shutdown and uncertainty regarding the nation’s debt limit caused builders and consumers to take pause. Still, the component measuring sales expectations for the next six months posted a reading of 62 and current conditions were scored at 58. Rick Judson, NAHB’s chairman, said builder optimism remains above 50 and there are still signs of pent-up demand in many markets across the country. Judson believes the drop in confidence is due to temporary uncertainty and challenges with regard to cost and availability of labor. More here.

Economists Forecast Gains For Housing In 2014

October 15, 2013 Housing Market Comments Off on Economists Forecast Gains For Housing In 2014

A gathering of economists recently brought together by the National Association of Home Builders forecast continued gains for the housing market, despite obstacles that are impeding its recovery. David Crowe, NAHB’s chief economist, said the cards are in play for a decent and fairly strong recovery in 2014 and particularly in 2015. According to Crowe, housing has been growing at two, three, and four times the rate of the rest of the economy in recent quarters. That growth, spurred by a double-digit increase in home prices as well as rising household formations, has led to an increasingly healthy market and optimistic forecasts from experts and analysts. Still, labor shortages, tighter inventory and credit, higher material prices, and inaccurate appraisals are hurting new and existing home sales. And economic uncertainty tied to the government shutdown and debt ceiling debate also threaten housing’s progress. Mark Zandi, chief economist at Moody’s Analytics, feels Congress will resolve these issues quickly but cautions that, if they don’t, it challenges the economic outlook and could result in another recession. More here.



Housing Market 85 Percent Back To Normal

October 9, 2013 Housing Market Comments Off on Housing Market 85 Percent Back To Normal

Using current permits, home prices, and employment data, the National Association of Home Builders’ Leading Markets Index measures market conditions by comparing them to those that existed before the recession and housing crisis. According to the results of the most recent index, the national housing market is 85 percent back to normal and 52 of the 350 metro areas analyzed have now returned to, or exceeded, pre-recession levels of activity. Rick Judson, NAHB’s chairman, said the index helps illustrate how far the U.S. housing recovery has come and how much further it needs to go. Among the highlights of the report, smaller cities account for 43 of the top 50 markets, though major metros such as Baton Rouge, Honolulu, Oklahoma City, Austin, and Houston also have scores indicating they are now exceeding their previous norms. Of the 350 cities covered by the index, 118 showed levels of activity at least 90 percent of their pre-recession norm. 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.

Number of Improving Housing Markets Hits Record High

September 14, 2013 Uncategorized Comments Off on Number of Improving Housing Markets Hits Record High

The number of improving housing markets across the country has reached a record high, according to the National Association of Home Builders’ Improving Markets Index. The index determines improvement based on each metropolitan areas’ low point in housing permits, employment, and house prices. They are added to the index after showing six consecutive months of improvement in all three categories. September’s results found 291 metro areas that qualified as improving housing markets, up 44 from August. Rick Judson, NAHB’s chairman, said over 80 percent of the 361 metros tracked by the index are showing consistent growth, which is an excellent indicator of how the housing recovery has begun to take hold across the country. More here.

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