Housing Market Index continues ascent
November 19th, 2012
Builder confidence in the housing market continues to climb as the National Association of Home Builders today announced another gain from the previous month in the Housing Market Index. The Index hit 46 for October, a 5 point increase from the reading of 41 for September.
Existing Home Sales for October also increased with an annualized sales reading of 4.79 million previously owned homes. All time low mortgage rates coupled with inventories of previously owned homes close to 10-yr. lows are seen as factors in the continued strength of the housing market.
The West continues to lead the other three regions with purchases rising 4.4% compared to rises of 2.1% in the South and 1.8% in the Midwest. A drop of 1.8% in the Northeast is being blamed on the devastating storm Sandy.
Tags: building, Colorado, Denver, housing, new homes, real estate, townhomes, Winter Park
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Housing starts jump to 4-year high!
October 17th, 2012
Housing starts – the measure of the change in the annualized number of new residential buildings that began construction during the current month – jumped 15% to 872,000 for the month of September, it’s highest level in 4 years. The number blew away the average estimate of 770,000. Building permits also advanced 12% to an 894,000 annual rate – the most since July of 2008. Yesterday the NAHB (National Association of Home Builders) announced another new 6 yr. high in the Housing Market Index with a reading of 41. The positive housing numbers indicate the growing confidence by builders in the recovering housing market.
Tags: building, Colorado, Denver, housing, new homes, real estate, townhomes, Winter Park
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