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Tag Archives: National Association of Home Builders

Improving Markets Index Touches New High in October

The number of markets listed on the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) broke the triple-digit mark in October, NAHB reported. A total of 103 housing markets across the country qualified for the list in October, up from 99 in September and the highest level since the list started a year ago, NAHB said. At its October level, the number of qualifying markets approaches nearly 10 times the number from when the index was first created.

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Homeownership Rally in Missouri Draws Concerned Citizens

More than 800 homeowners from across Missouri, Kansas, and Nebraska, came together with local business leaders, real estate professionals, politicians, and civil rights leaders this week in support of homeownership. The rally took place in Independence, Missouri, and is one of nine events organized by the National Association of Home Builders (NAHB) to urge elected officials to back homeownership initiatives.

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Single-Family Starts Reach Two-Year High in August

Single family starts increased 28,000 in August to 535,000, the highest level since April 2010, the Census Bureau and HUD reported jointly Wednesday. Despite the increase total, housing starts improved just 17,000 as multi-family starts fell. Despite the increase total, housing starts improved just 17,000 as multi-family starts fell. Housing permits meanwhile dropped 9,000 to 802,000. Economists had expected total starts to increase to 768,000 and permits to slip to 803,000.

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NAHB: Is Multifamily Housing (Finally) on the Mend?

Multifamily housing continues to improve ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô at least by some appearances. The National Association of Home Builders recently registered 54 on an index that measures multifamily production. On a scale of zero to 100, the trade group found the index doing well for the eighth straight quarter, marking a high not seen in seven years. The Multifamily Production Index noted the rise from 51 for an index that tallies up homebuilder and developer sentiment about the state of the apartment and condo market.

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July New Home Sales Increase as Prices Fall

New home sales regained all the ground they lost in June, jumping by 13,000 to an annualized rate of 372,000 in July, the Census Bureau and HUD reported Thursday. Economists surveyed by Bloomberg expected the report to show a sales pace of 362,000. Sales for June were revised up to 359,000 from the originally reported 350,000. Both the median and average sales price of a new home though dropped month-over-month and year-over-year according to the report, each falling to the lowest level since January.

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Are Mortgage Rates on Their Way Back to Normalcy?

Could mortgage rates be on their way back? That's what today's mortgage rates just may suggest. Freddie Mac reported that the 30-year fixed-rate mortgage ticked up by a few basis points to arrive at 3.62 percent, up from 3.59 percent last week. The GSE also found interest rates for the 15-year home loan averaging 2.88 percent, with 5-year and 1-year adjustable-rate mortgages crawling to 2.76 percent and 2.69 percent, respectively. Bankrate.com likewise saw upward-bound changes in mortgage rates this week.

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July Housing Starts Slip, Led by Single-Family Declines

Despite continuing improvement in builder confidence, housing starts slipped in July to 746,000 with single-family starts accounting for decline, the Census Bureau and Department of Housing and Urban Development reported jointly Thursday. Housing permits though improved to 812,000, the highest level in almost four years. Economists surveyed by Bloomberg expected 750,000 starts and 766,000 permits in July. Total housing completions in June rose to 668,000, the highest level since June 2010.

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Declining Affordability Is Good for the Market: NAHB

After reaching a record high of 77.5 percent in the first quarter of this year, housing affordability declined to 73.8 percent in the second quarter of this year, according to the Housing Opportunity Index. The HOI measures the percentage of homes sold in a particular quarter that are affordable to those earning at the median income level. In the second quarter, 73.8 percent of homes sold were affordable to those earning the national median income of $65,000. Fairbanks, Alaska, posted the highest affordability rate.

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Builder Confidence Soars To Five-plus Year High in August

Builder confidence improved two points in August to 37, its highest level since February 2007, the National Association of Home Builders (NAHB) reported Wednesday. Economists had expected the index to remain flat at 35. The improvement in the index in August marked the fourth straight month-month gain.

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June New Home Sales Plunge to Five-Month Low

New home sales fell to 350,000, setting a five-month low in June, the Census Bureau and HUD reported jointly Wednesday. Economists had expected sales to inch up slightly from the preliminary sales report in May. May sales were revised up to 382,000 from the originally reported 369,000. Both the average and median price of a new home fell in June from May. The median price was also down from June 2011 while the average price was up slightly. The average price of a new home fell in June to $273,900.

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