Archive for the ‘Statistics’ Category
Tuesday, April 24th, 2012
 Tuesday, the government released its March 2012 New Residential Construction report. The report is made up of three sections, each related to a phase of the “new home” market. The report’s first part is Building Permits; the second is Housing Starts; the third is Housing Completions.
Of the three sections, it’s Housing Starts that gets the most attention from the press — mostly because, of the triad, it’s the simplest for a layperson to understand. However, the manner in which Housing Starts data is reported can be misleading.
Today’s newspapers offer up an excellent example.
According to the Census Bureau, total Housing Starts fell by 6% in March as compared to the month prior. 654,000 units were started on a seasonally-adjusted annualized basis. For Housing Starts, it’s the lowest reading in 5 months, a statistic suggesting that the housing market may have lost some momentum. Much of the press covered the story from a “housing is slowing” angle.
This is a preview of Single-Family Housing Starts Slip 0.2% In March . Read the full post »
Tags: Building Permits, Census Bureau, Housing Starts
Posted in Housing Analysis, Statistics, The Economy | No Comments »
Saturday, April 7th, 2012
 The new construction housing market appears primed for growth this season.
According to the Census Bureau, the number of single-family building permits issued in February rose to 472,000 on a seasonally-adjusted, annual basis, marking this the highest building permit tally since April 2010 — the last month of that year’s federal home buyer tax credit program.
Building permits are a pre-cursor to new home construction. In 2011, from the date of permit-issuance to the date of “ground-breaking”, an average of 27 calendar days passed. February’s data, therefore, is a signal that the market for newly-built homes should be strong this year, an idea supported by the most recent homebuilder confidence survey.
As buyer foot traffic soars, homebuilders expect to make more sales in the next 6 months than at any time since the housing market’s collapse. Builder confidence is at a 5-year high.
This is a preview of Building Permits On The Rise . Read the full post »
Tags: Building Permits, Census Bureau, Colorado Real Estate, energy efficient, Existing Home Sales, Housing Starts, real estate pricing
Posted in Buying A Home, Housing Analysis, Residential Real Estate, Statistics | No Comments »
Friday, March 30th, 2012
After a brief run-up two weeks ago, mortgage rates are back below 4 percent. It’s good news for home buyers and mortgage rate shoppers because, with lower mortgage rates, we can lower the amount of mortgage payments. According to Freddie Mac’s weekly Primary Mortgage Market Survey, the national average 30-year fixed rate mortgage rate fell to 3.99 percent this week from last week’s 4.08 percent.
Last week had marked the first time since December 2011 that the benchmark rate crossed north of 4 percent — a span of 16 weeks. And, it wasn’t just rates that got cheaper this week — closing costs dropped too. Freddie Mac’s survey showed that the average number of discount points to accompany a 30-year fixed rate mortgage fell one-tenth of a percent this week to 0.7, where one discount point is equal to one percent of your loan size.
This is a preview of Mortgage Rates Fall Back Below 4% . Read the full post »
Tags: 30 year fixed loan, Buy home, Discount Points, Freddie Mac, Home Affordability, home buyer
Posted in Buying A Home, Housing Analysis, Mortgage Rates, Mortgages, Residential Real Estate, Statistics | No Comments »
Wednesday, December 7th, 2011
If you plan to buy new construction in the Denver area sometime in 2012, don’t expect today’s low prices. Like everything in housing of late, the market for newly-built homes appears to be stabilizing and, in some markets, improving.
As foreshadowed by this month’s strong Homebuilder Confidence survey, the Census Bureau reports that the number of new homes sold rose to a 6-month high in October, climbing to 307,000 units on a seasonally-adjusted, annualized basis. A “new home” is a home that is new construction in which no one has lived. It’s the opposite of an “existing home” in which someone has lived.
Home buyers are comparing new construction to home resales and liking what they see. At the current sales pace, the nation’s complete new home inventory would now be depleted in just 6.3 months. This marks the lowest home supply since April 2010 — the last month of the last year’s federal homebuyer tax credit. By building only to meet new demand, builders are keeping home supplies in check, and home prices stable. They’ve also found a niche market – 80% of homes sold last month sold for less than $300,000.
This is a preview of New Home Supplies Fall To An 18-Month Low . Read the full post »
Tags: Margin of Error, New Home Sales, New Home Supply
Posted in Buying A Home, Buying in a Recession, Housing Analysis, Residential Real Estate, Statistics | No Comments »
Thursday, November 17th, 2011
 Homebuilder confidence continues to rise. Just two months after falling to a multi-month low, the Housing Market Index surged again in November, climbing another three points to 21. It’s the second straight month that the HMI posted a 3-point gain, catapulting the index to an 18-month high.
The Housing Market Index is a monthly report from the National Association of Homebuilders. It’s meant to measure confidence among the nation’s homebuilders, scored on a scale of 1-100. When homebuilder confidence reads 50 or better, it reflects favorable conditions for homebuilders. Readings below 50 reflect unfavorable conditions. The Housing Market Index has not read north of 50 since April 2006.
As an index, the HMI is actually a composite reading – the result of three separate surveys sent to homebuilders each month. The National Association of Homebuilders asks it members about current single-family home sales volume; projected single-family home sales volume over the next 6 months; and current “foot traffic”.
This is a preview of Homebuilders Getting Optimistic; Higher Home Prices Ahead? . Read the full post »
Tags: Buy home, Colorado Real Estate, HMI, home buyer, Housing Market Index, NAHB, real estate pricing
Posted in Buying A Home, Buying in a Recession, Housing Analysis, Real Estate Definitions, Residential Real Estate, Statistics | No Comments »
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