Tag Archives: Real Estate Investment

The Pending Home Sales Index (PHSI) fell 4.3 percent to 101.7 in December, the sharpest month-month drop since April the National Association of Realtors (NAR) reported Monday. Economists had expected a smaller 0.3 percent decrease to 106.1 from November's originally reported 106.4. The November index was revised down to 106.3. NAR economist Lawrence Yun blamed a tight inventory for the weakening index. Yun also noted the lack of homes costing less than $100,000, especially in the West.

Existing-home sales fell 1.0 percent in December to a seasonally adjusted annual rate of 4.94 million, and November sales were revised downward, slipping below 5 million, the National Association of Realtors reported Tuesday. Economists had expected the sales pace to improve to 5.1 million. The supply of existing homes for sale fell in December to 1.82 million, the lowest level since January 2001. At the current sales pace, the homes available for sale represent a 4.4 month supply.

Real GDP growth for the third quarter was revised up again, the Bureau of Economic Analysis reported Thursday, reaching a 3.1 percent annualized growth rate. It was only the third time in the last five years the quarterly growth rate topped 3.0 percent. Economists had forecast a 2.8 percent growth.

HUD plans to waive the Federal Housing Administration's (FHA) anti-property-flipping rule through December 31, 2014. The agency is extending the temporary waiver that was put into place in January 2010 for another two years to encourage investors to acquire and renovate foreclosed and vacant homes.

Real GDP growth for the third quarter was revised up significantly, the Bureau of Economic Analysis reported Thursday, reaching a 2.7 percent annualized growth. Economists had forecast a 2.8 percent growth rate. The report on GDP was the second of three monthly reports and billed as the ""second estimate."" The report on profits was the first of two and labeled ""preliminary."" Final reports on both will be released December 20.

New home sales barely budged in October, dropping 0.37 percent to 368,000 after September’s report was revised sharply downward from an original 389,000 to 369,000, Census Bureau and HUD reported Wednesday. Economists surveyed by Bloomberg expected the report to show a sales pace of 387,000.

Despite another month of home price improvements, the housing sector stumbled in September as prices fell in five of the 20 cities covered in the monthly Standard & Poor's/Case-Shiller Home Price Index. The 10-city index increased 0.3 percent from August to 158.93, its highest level since September 2010. Meanwhile, the 20-city index rose by the same 0.3 percent to 146.22, also the highest in two years. The national index improved 2.2 percent in the third quarter to 135.67, its highest level since Q3 2010.

Housing starts rose 3.6 percent in October to a seasonally adjusted annual rate of 894,000, the highest level since July 2008, but permits for new residential construction fell the Census Bureau and HUD reported jointly Tuesday. Housing completions soared in October, up 14.5 percent during the month to 772,000, the highest level since June 2010. The increase in completions was led by a 5.3 percent jump in multifamily completions. Single-family completions in October reached their highest level since June 2010, increasing to 542,000.

Led by increases in personal consumption, government spending and residential investment, the U.S. economy grew 2.0 percent in the third quarter, the Bureau of Economic Analysis reported Friday, faster than economists expected and a strong rebound from the 1.3 percent growth rate in the second quarter. Economists surveyed by Bloomberg had expected an increase of 1.9 percent.

New home sales jumped 5.7 percent in September to a seasonally adjusted average annualized rate of 389,000, the highest rate since April 2010, the Census Bureau and HUD reported Wednesday. The month-to-month sales improvement was the strongest since February, when sales improved 27,000, or 8.0 percent. While sales numbers improved, both the median and average sales price of a new home dropped month-to-month. Sales were still up 27.1 percent from September 2011, the strongest year-over-year gain since February.