Housing Market Driving Economic Growth

Housing Market Driving Economic Recovery

The housing market is likely to be the primary driver of economic growth in 2013 say many economists.

Steady home sales in 2012 led to a 9% increase in home sales over 2011 – the best year for home sales since 2007. Improved demand for homes in December led to the inventory of homes for sale to fall to its lowest supply since 2001. And yet another indicator of a strengthening housing market – housing starts have reached their highest level since 2008.

While the housing market still hasn’t worked through all of its issues, it is improving at an accelerating rate.

Here are a few articles detailing the housing market’s role in our economic recovery:

If you were waiting for home prices to bottom out before you buy – you may want to start researching your home financing options now. Home prices are on the rise and near record low mortgage rates won’t last forever.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is proudly celebrating twenty years in business. Learn more about Inlanta’s twenty year history here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.

Is the Housing Market Recovering?

Housing Starts, Housing Permits, Housing Completions Are All Up

The stock market welcomed news that the housing market may be slowly recovering.

In a report released today, the U.S. Census Bureau and the Department of Urban Development annouced that building permits, housing starts and housing completions are substantially higher in May 2012 than they were in May 2011.

Privately-owned housing units authorized by building permits in May 2012 were 25 percent higher than May 2011. May 2012 permits totaled 780,000, which is 7.9 percent higher than April, and significantly larger than May 2011 estimates of 624,000.

Privately owned housing starts in May were at 708,000, down slightly from April but 28.5 percent higher than the May 2011 rate of 551,000.

Housing completions in May were at a seasonally adjusted rate of 598,000 which is a 10.1 percent increase over the May 2011 rate of 543,000.

What does this all mean? Well, housing statistics matter to the U.S economy. While discouraging news persists in Europe regarding Spain and Greece, increases in housing starts suggests the housing market, a key to our nation’s economic growth, is slowly recovering. Housing permits are up almost 50 percent from the early-2009 low. News of the jump in housing starts helped U.S. stocks open higher on better news of the housing front.

Are you a renter waiting for the opportune time to buy? If the housing market has begun a period of recovery, now may be the best time to take advantage of affordable home prices and historically low interest rates. Contact a licensed mortgage professional to discuss your home financing needs and get approved today!

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.

Housing Outlook Brightens

Market Turnaround Expected

Home starts and sales are on an upword path according to Chief Economist David Crowe of the National Association of Builders (NAHB).

“No one is anticipating that an upward path for housing will run in a straight-line trajectory,” said Crowe. “The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead. However, NAHB believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012.”

According to the NAHB, new-home sales are expected to climb from a record-low of 305,000 units in 2011 to 357,000 this year and 505,000 in 2013. Existing single-family sales are expected to follow suit and rise from 3.8 million last year to 4.4 million in 2012 and 5.4 million next year.

Housing starts are also anticipated to move in the same upward trajectory, Crowe said, with single-family housing production increasing from 434,000 units last year to 503,000 this year and a more solid 660,000 in 2013.

On the multifamily side, starts posted a healthy 55 percent increase in 2011 over 2010.

“A lot of newly formed households have become renters, so we need more rental units,” Crowe said. “We don’t expect to see the same rate of increase moving forward, but we should continue to see a healthy recovery.”

NAHB is anticipating that multifamily starts will rise from 177,000 units last year to 216,000 in 2012 and 235,000 in 2013. With many households choosing to stay in place and remodel their homes rather than move, residential remodeling is expected to rise 12 percent this year and another 7.9 percent in 2013.

Are you a renter considering a new home purchase to avoid rising rent? Contact an Inlanta Mortgage  loan professional to get pre-approved today! Or maybe you are interested in taking advantage of low mortgage interest rates to purchase a different home? Whatever you financing needs, Inlanta Mortgage professionals are here for you. Click here to located a licensed mortgage loan progessional near you.

Inlanta Mortgage operates more than 30 branches in 15 states and offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

 

 

 

Housing Outlook Brightens

Market Turnaround Expected

Home starts and sales are on an upword path according to Chief Economist David Crowe of the National Association of Builders (NAHB).

“No one is anticipating that an upward path for housing will run in a straight-line trajectory,” said Crowe. “The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead. However, NAHB believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012.”

According to the NAHB, new-home sales are expected to climb from a record-low of 305,000 units in 2011 to 357,000 this year and 505,000 in 2013. Existing single-family sales are expected to follow suit and rise from 3.8 million last year to 4.4 million in 2012 and 5.4 million next year.

Housing starts are also anticipated to move in the same upward trajectory, Crowe said, with single-family housing production increasing from 434,000 units last year to 503,000 this year and a more solid 660,000 in 2013.

On the multifamily side, starts posted a healthy 55 percent increase in 2011 over 2010.

“A lot of newly formed households have become renters, so we need more rental units,” Crowe said. “We don’t expect to see the same rate of increase moving forward, but we should continue to see a healthy recovery.”

NAHB is anticipating that multifamily starts will rise from 177,000 units last year to 216,000 in 2012 and 235,000 in 2013. With many households choosing to stay in place and remodel their homes rather than move, residential remodeling is expected to rise 12 percent this year and another 7.9 percent in 2013.

Are you a renter considering a new home purchase to avoid rising rent? Contact an Inlanta Mortgage  loan professional to get pre-approved today! Or maybe you are interested in taking advantage of low mortgage interest rates to purchase a different home? Whatever you financing needs, Inlanta Mortgage professionals are here for you. Click here to located a licensed mortgage loan progessional near you.

Inlanta Mortgage operates more than 30 branches in 15 states and offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

 

 

 

Housing Outlook Brightens

Market Turnaround Expected

Home starts and sales are on an upword path according to Chief Economist David Crowe of the National Association of Builders (NAHB).

“No one is anticipating that an upward path for housing will run in a straight-line trajectory,” said Crowe. “The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead. However, NAHB believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012.”

According to the NAHB, new-home sales are expected to climb from a record-low of 305,000 units in 2011 to 357,000 this year and 505,000 in 2013. Existing single-family sales are expected to follow suit and rise from 3.8 million last year to 4.4 million in 2012 and 5.4 million next year.

Housing starts are also anticipated to move in the same upward trajectory, Crowe said, with single-family housing production increasing from 434,000 units last year to 503,000 this year and a more solid 660,000 in 2013.

On the multifamily side, starts posted a healthy 55 percent increase in 2011 over 2010.

“A lot of newly formed households have become renters, so we need more rental units,” Crowe said. “We don’t expect to see the same rate of increase moving forward, but we should continue to see a healthy recovery.”

NAHB is anticipating that multifamily starts will rise from 177,000 units last year to 216,000 in 2012 and 235,000 in 2013. With many households choosing to stay in place and remodel their homes rather than move, residential remodeling is expected to rise 12 percent this year and another 7.9 percent in 2013.

Are you a renter considering a new home purchase to avoid rising rent? Contact an Inlanta Mortgage  loan professional to get pre-approved today! Or maybe you are interested in taking advantage of low mortgage interest rates to purchase a different home? Whatever you financing needs, Inlanta Mortgage professionals are here for you. Click here to located a licensed mortgage loan progessional near you.

Inlanta Mortgage operates more than 30 branches in 15 states and offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.