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Tag Archives: Housing Market

Labor Market Improvements Support Economists’ Predictions for Housing Recovery

Employment statistics released earlier in the week by the U.S. Bureau of Labor Statistics (BLS) fall right in line with analysts' recent predictions that the housing market will make a comeback in 2015. According to the BLS November 2014 Metropolitan Area Employment and Unemployment report, unemployment rates declined year-over-year in 341 out of 372 metro areas in the U.S., while 12 areas reported jobless rates of at least 10 percent and 147 metros posted jobless rates of less than 5 percent.

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Stronger Economic Fundamentals Expected to Drive Increases in Home Sales, Housing Starts in 2015

Improvements in economic fundamentals, notably employment growth among millennials, will fuel significant increases in home sales and housing starts and a modest rise in home prices in 2015, according to CoreLogic's 2015 Housing Outlook released earlier this week. Sam Khater, deputy chief economist for CoreLogic, predicted an increase of 9 percent in home sales and a 14 percent spike in housing starts for the coming year in the report.

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Freddie Mac: Housing Market Weak But Stabilizing

The national MiMi value stands at 74.5, which is up 0.12 percent from September to October and up 0.42 percent over the past three months. Year-over-year, the national housing market has improved 4.48 percent. While still well short of the all-time MiMi high of 122.5, reached in June 2006, the national index is markedly better than it was in September 2011, when the housing market was at 60.3.

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Existing-Home Sales Decline Despite Low Interest Rates

Sales of pre-owned homes stalled out in November, plunging to their slowest pace in half a year only one month after hitting a 2014 high. Despite the stumble, home resales in November were still up 2.1 percent from year-ago levels, making it just the second month in 2014 to see sales rise year-over-year. It's been a year of starts and stops for home sales, which have struggled under the weight of rising mortgage rates (a trend that has reversed in recent months), a tighter lending environment, declining affordability, and a lack of housing stock available for buyers.

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Fannie Mae Forecasts Economic Growth in 2015 Despite Ending Year On a Low Note

Fannie Mae's Economic & Strategic Research Group predicts in its December 2014 Economic Outlook that the U.S. economy will strengthen heading into 2015 following an up-and-down 2014 that ended on an unspectacular note. The Group is forecasting full-year growth of 2.1 percent for 2014, a full point below 2013's rate of growth, due to the reverse in the final quarter of some unsustainable forces that boosted the economy in the third quarter. However, the Group is predicting economic growth of 2.7 percent for 2015 based on firming consumer income prospects, rising consumer and business confidence, a broadening housing recovery, and reduced fiscal headwinds.

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Cary, North Carolina Named ‘Nicest’ Housing Market; Milwaukee Designated as ‘Naughtiest’

With Christmas just one week away, RealtyTrac has released a list of the nicest and naughtiest U.S. housing markets based on a number of factors, including foreclosure rate, crime ratings, unemployment rate, school scores, housing affordability, and sex offenders per capita. RealtyTrac found the "nicest" housing market in the U.S. to be Cary, North Carolina, and the "naughtiest" to be Milwaukee, Wisconsin, based on those metrics. Cary was chosen as the nicest housing market based on the city's low unemployment by county rate (4.40 percent), sex offender per capita rate (0.021 percent, or an average of 2.12 sex offenders for every 10,000 people), low foreclosure inventory (0.17 percent, or 17 foreclosures for every 1,000 housing units), total crime index (20.1 percent, for a crime rating of A), average elementary school score for 2013 (1.0979) and home affordability, or the percentage of median income to buy median-priced homes (21.38 percent).

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