Improving Housing Markets Index – Giant Jump in January

Improvement - Improving Housing Markets

Housing permits, house prices, and employment are benchmark elements the National Association of Home Builders (NAHB) and First American Title uses in the NAHB/First American Improving Markets Index (IMI). In January, the list of improving markets jumped substantially to 242 from 201 in December. There are 361 metro areas nationwide.

New additions to the NAHB IMI in January include:

  • Wisconsin – Milwaukee & Madison
  • Iowa – Des Moines
  • Illinois – Chicago, Champaign
  • Maine – Bangor
  • Massachusetts – Boston
  • Vermont – Burlington
  • New Hampshire – Manchester

The list was created in 2011 to spotlight individual metro areas where housing markets were showing signs of improving economic health. The most recent list includes representatives from almost every state in the country.  A metropolitan area must see improvement in all three measures (employment, housing prices, and housing permits) for at least six consecutive months following those measures’ respective troughs before being included on the improving markets list.

Click here for the January 2013 Improving Markets Index.

The monthly reported number of metro areas listed on the IMI since May 2012:

  • January – 242
  • December – 201
  • November – 125
  • October – 103
  • September  – 99
  • August – 80
  • July – 84
  • June – 80
  • May – 100

According to the Eye On Housing blog, author David Crowe said, “House prices have been the make-or-break component in the three measures of the IMI. Increases in the national house prices indexes are the result of a wide array of individual markets experiencing house price increases. Hence, the IMI reflects that improvement and more metros are added to the list of improving.The improvement is highlighted in this graph which shows the average percentage increase in each of the three components of the IMI for the metro areas on the list in that month.”

Additional information on the Improving Markets Index can be found here.

Inlanta Mortgage is proudly celebrating 20 years in business! For more information about our 20th Anniversary, click here.

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.

 

Builder Confidence Rises – Housing Bust Over?

Builder Confidence Rises in July

Builder Confidence Rises in July

In a recent report by the National Association of Home Builders (NAHB), builder confidence experienced the largest one-month gain recorded in nearly a decade. Builder confidence in the market for newly built, single-family homes rose six points to 35 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for July.

Is the housing bust over?

According to Cooper Howes of Barclays, “2012 is expected to be the first year since 2005 in which residential investment will provide a positive contribution to GDP growth.”

Barry Rutenber, chairman of the NAHB, said, “Builder confidence increased by solid margins in every region of the country in July as views of current sales conditions, prospects for future sales and traffic of prospective buyers all improved. This is greater evidence that the housing market has turned the corner as more buyers perceive the benefits of purchasing a newly built home while interest rates and prices are so favorable.”

According to NAHB’s chief economist David Crower, “Combined with the upward movement we’ve seen in other key housing indicators over the past six months, this report adds to the growing acknowledgement that housing – though still in a fragile stage of recovery – is returning to its more traditional role of leading the economy out of recession. This is particularly encouraging at a time when other parts of the economy have begun to show softness, and is all the more reason that the challenges constraining housing’s recovery – namely overly tight lending conditions, poor appraisals and the flow of distressed properties onto the market – need to be resolved.”

Click here to read the NAHB release in its entirety.

Are you ready to take advantage of low interest rates while home affordability remains low?  Consult a licensed mortgage loan professional 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.

Builder Confidence Rises

Builder Confidence Rises in June

Builder Confidence Rises in June

According to the National Association of Home Builders/Wells Fargo Housing Marketing Index (HMI), builder confidence in the market for newly built, single-family homes is at its highest level since May 2007. The HMI raised slightly from last month to rest at 29.

“This month’s modest uptick in builder confidence comes on the heels of a four-point gain in May and is reflective of the continued, gradual improvement we are seeing in many individual housing markets as more buyers decide to take advantage of today’s low prices and interest rates,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla.

Derived from a monthly survey that NAHB has been conducting for 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good rather than poor.

In June, the HMI component measuring current sales conditions rose two points to 32, which is its highest level since April of 2007. Meanwhile, the components measuring sales expectations in the next six months and traffic of prospective buyers held unchanged at 34 and 23, respectively. Regionally, the Midwest registered the largest gain in the country, posting a five-point gain to 31.

Are you ready to take advantage of historically low rates and high home affordability levels?  Contact an Inlanta Mortgage loan professional near you!

Inlanta offers a number of mortgage financing options to meet your specific needs including FHA, VA, USDA and conventional mortgage loans. Are you a new a first time homebuyer? Trust the loan professionals at Inlanta Mortgage to help you decide which loan program is best for you. Call 262-797-7111 today or visit our website for more information!

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.