The National Association of Home Builders/First American Improving Markets Index (IMI) is showing improvements in the housing market for metropolitan areas throughout the U.S. The IMI has increased steadily to include 201 metro areas with improving markets. To be included a metro area must show improvement in housing permits, employment and house prices for 6 consecutive months. The IMI has increased its list for 4 months in a row and shows positive growth throughout the country.
The National Association of Home Builder’s Multifamily Production Index (MPI) is showing a steady increase in builder outlook on multifamily units. The Index for the year’s 3rd quarter marks the 3rd time in a row the MPI had numbers above 50, which is a positive rating. The MPI measures builder sentiment on construction of low-rent units, market-rate rental units and condominiums.
The National Association of Realtors (NAR) is reporting an increase in existing home sales for November. Existing home sales include single-family, townhomes, condominiums and co-ops sold throughout the country. There was a 5.9% rise in these sales from October 2012 and a year-over-year increase of 14.5%.
The CPSC and LG Electronics have issued a recall for LG Top-loading Washing Machines. Unbalanced loading of the machine can destabilize the washer and become an injury risk and property damage risk. The recall is in effect for approximately 457,000 units sold.
According to Freddie Mac’s Primary Mortgage Market Survey, mortgage rates were at near historic lows in late December. Here are some of the numbers from the survey:
The NAHB is predicting 2013 as a year with steady and consistent growth. Early indicators pulled from housing starts, permit issuance, home prices, new-home sales and builder confidence all point to positive gains in the new year. Single-family home starts are expected to rise 23% from 2011. Housing starts are also projected to rise 29% by 2014. Another area of projected strong growth is multifamily units, which is expected to rise by 16% in 2013. Finally, new single-family home sales are expected to climb 22% in the next year.
The CPSC and G-U Hardware have issued a recall for Tilt-turn Stay Arms and Side-hung Sash Hinges Window Fittings. The window’s fittings can break and cause the window to fall down and become an injury risk. The recall is in effect for approximately 5,000 units.
According to the National Association of Home Builders, new construction permits rose 3.6% from the month before, a gain of 899,000 units. This would bring permit issuance to its highest level in more than four years. The amount of permits issued can be an important indicator of future home building activity.
The National Association of Realtors is reporting that pending home sales rose for the 3rd month in a row in November. That was also the highest rate in 2 and a half years. These numbers are based on the Pending Home Sales Index, which showed a 9.8% increase from the year before; it was 1.7% higher from the month before. For 19 months in a row, pending home sales rose year-over-year.
According to the National Association of Home Builders (NAHB), new-home sales were at their highest level since April of 2010. The 4.4% increase month-to-month brings the seasonally adjusted rate up to 377,000 units. These numbers were taken from HUD and U.S. Census Bureau data and show a revitalized market throughout most of the country.