The National Association of Home Builders Housing Market Index measures builder confidence in the market for newly built, single-family homes on a scale where any number below 50 indicates that more builders view conditions as poor than good. In November, the index rose five points to 46. It was the seventh consecutive monthly gain and a significant improvement over last year’s reading of 19. Builder confidence is now at its highest level since May 2006. Barry Rutenberg, NAHB’s chairman, said builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink across the country. Components measuring current sales conditions and expectations for the next six months both experienced gains, as did all four regions of the country. More here.
The National Association of Home Builders Improving Markets Index identifies metropolitan areas that have experienced at least six consecutive months of improvement in housing permits, employment, and home prices since their respective bottoms. In November, the list of improving markets expanded by 22 metros bringing the total for the month to 125. It was the third consecutive monthly gain and nearly 100 cities better than last November’s total. Barry Rutenberg, chairman of the NAHB, said the housing recovery is firmly taking root and helping generate jobs and growth across the country. The geographic diversity of the index also improved, with 38 states and the District of Columbia now represented on the list. New additions to the index include San Diego, Calif.; Gainesville, Ga.; Omaha, Neb.; Louisville, Ky.; and Charlotte, N.C. More here.
The National Association of Home Builders Housing Market Index measures builder confidence in the market for new, single-family homes on a scale where any number above 50 indicates more builders view the market as good than poor. In October, the index increased to 41. It was the sixth straight month of gains and put confidence at its highest level since June 2006. Barry Rutenberg, NAHB’s chairman, said many builders are reporting increases in the number of serious buyers visiting their sales offices and the overall confidence measure is much higher than it was a year ago. October’s gains were driven by a five point increase in the component measuring traffic of prospective buyers, which rose to its strongest reading since April 2006. Regionally, builder confidence was up in three of four regions, with the Northeast unchanged from the month before. More here and here.
The National Association of Home Builders Improving Markets Index identifies metropolitan areas that have seen six consecutive months of gains in housing permits, employment, and home prices. In October, the index reached the highest number of metros recorded since the list was created in 2011. A total of 103 markets made the list, up from 99 in September. Barry Rutenberg, chairman of the National Association of Home Builders, said 11 new housing markets were added to the list in October, while 92 metros retained their spot. According to Rutenberg, the gains are an encouraging sign that the housing recovery is proceeding at a steady pace. A total of 33 states and the District of Columbia are now represented on the list. New markets added to the Index in October include Santa Cruz, Calif.; Abilene, Texas; and Savannah, Ga. More here.
The S&P/Case-Shiller Home Price Indices are among the most closely followed measures of home values in the United States. They are intended to accurately track the price path of single-family homes in each of the included metropolitan areas. According to the latest release, which contains data through the end of July, home prices experienced their third consecutive month of increases, with gains to both the 10- and 20-City Composite Indexes. Average home prices increased 1.5 percent for the 10-City Composite and 1.6 percent for the 20-City Composite. It would have been the fourth straight month of improvement had Detroit’s prices not fallen 0.6 percent in April. David Blitzer, chairman of the index committee, said the report confirms the recent good news about housing and is reason for optimism. More here and here.
The National Association of Home Builders Improving Markets Index lists metropolitan areas that have shown six consecutive months of improvement in housing permits, employment, and home prices. In September, the index reached a total of 99, up 19 over August’s total of 80. Barry Rutenberg, chairman of the NAHB, said the growth is an encouraging sign that housing continues on a slow but steady recovery path that is advancing from one local market to the next. The list now includes metros in 33 states and the District of Columbia. New markets added to the index include Tucson, Ariz.; Jacksonville, Fla.; Springfield, Ill.; Greenville, N.C.; and Bend, Ore. Only 12 cities fell off the list from the previous month, while 68 retained their spots and 31 new metros were added. More here and here.
Nearly 74 percent of all new and existing homes sold during the second quarter of this year were affordable to a family earning the national median income of $65,000, according to the National Association of Home Builders Housing Opportunity Index. But though that’s high by historical standards, it’s down from a record 77.5 percent of homes during the first quarter. Barry Rutenberg, NAHB’s chairman, said the decline in affordability is a positive development because it’s another signal that the housing recovery is taking root, which should lend confidence to buyers and sellers in the current market. In 92 percent of the metros covered by the index, prices were up from the first quarter of this year. The most affordable major housing markets during the second quarter included Youngstown and Dayton, Ohio; Buffalo, N.Y.; Indianapolis, Ind.; and Modesto, Calif. More here and here.
The National Association of Home Builders Housing Market Index is a measure of builders’ perception of the market for newly built, single-family homes on a scale where any number above 50 indicates that more builders view sales conditions as good than poor. In August, builder confidence rose two points to 37, reaching its highest level since February 2007. Barry Rutenberg, chairman of the NAHB, said builders see current sales conditions, sales prospects for the next six months, and traffic of prospective buyers as better than they’ve been in more than five years. According to Rutenberg, the outlook appears to be brightening after the depths of the recession. The gains marked the fourth consecutive month of improvement for the index. Regionally, three-month moving averages show the Midwest up five points, and the South and West both gaining three points. More here.
The National Association of Home Builders’ Improving Markets Index identifies metropolitan areas that have shown six consecutive months of improvement in housing permits, employment, and home prices. In July, the index rose by four to include 84 metropolitan areas. The list now includes markets in 32 states and the District of Columbia. Barry Rutenberg, NAHB’s chairman, said the geographic diversity and growing number of cities on the list highlight the recent improvements in home prices and job market conditions across certain parts of the country. July’s index includes 73 metros that retained their spot from the month before and 11 new entries, including Prescott, Ariz.; Springfield, Mass.; St. Cloud, Minn.; and Houston, Texas. More here.
The S&P/Case-Shiller Home Price Indices are a leading measure of U.S. home prices. The latest release, which covers data through the end of April, found prices up 1.3 percent from March. It was the first price increase after seven consecutive months of falling prices. David Blitzer, chairman of the index committee at S&P Indices, said 19 of the 20 major metropolitan areas included in the survey saw price increases in April and 18 of the 20 saw better annual rates of return. According to Blitzer, it’s been a long time since there’s been such broad-based gains and the combination of rising monthly levels and improving year-over-year returns are a good sign for housing. Out of the 20 cities covered by the index, 10 experienced price increases over last year’s levels, including Boston, Charlotte, Dallas, Denver, Detroit, Miami, Minneapolis, Phoenix, Tampa, and Washington D.C. More here and here.
