The National Association of Home Builders (NAHB) is reporting that the large increase in national housing starts for December will help lead to future housing production. In December alone, a seasonally adjusted annual rate of 999,000 units were constructed.
According to the National Association of Realtors, existing-home sales for 2013 were the best seen for a year since 2006. For the year of 2013 there was 5.09 million units sold, which is 9.1% higher than it was in 2012.
A recent Homes.com study is indicating that many U.S. housing markets are on the rebound. The Local Market Index is put out to show sales of properties in America’s top 300 markets. This index shows that there were year-over-year gains in sales for single-family properties in all top 300 markets. The report shows that 85 of the top 100 markets saw a monthly increase in single-family sales, while 150 of 200 midsized markets saw gains.
CNBC is reporting that vacancy rates have hit a 10-year low, which could be an indicator of future multifamily unit construction. The recent report put out by Reis Inc., a real estate research firm, shows that these vacancy levels haven’t been seen since the 3rd quarter of 2001.
The National Association of Home Builders (NAHB) is reporting that 56 out of America’s 350 metro areas have equaled or exceeded their pre-recession economic levels. The data is taken from an NAHB index meant to gauge economic levels in various metro areas across the U.S.
According to a report conducted by IHS Global Insight, almost every American city is expected to grow their economy in 2014. The IHS study predicts at least 1.0% growth in 340 out of 363 metropolitan areas in this coming year. That is up from 183 cities last year. Best of all is that 3% economic growth is expected in 69 of the metros included.
There was some good news about housing production in December. Due to an increase in both single-family and multifamily unit starts throughout 2013, there was a 22.7% rise in housing production in December. This brings the seasonally adjusted annual rate of housing production up to 1.09 million units for that month.
A study conducted by IHS Global Insight projects the franchise sector to generate more jobs this year than the rest of the economy. It is projected that close to 200,000 new positions will be created by franchises in 2014. The pace of new job growth is expected to keep pace with 2013 numbers and still outgain the rest of the private sector.
According to the National Association of Realtors (NAR), existing-home sales rose 1.0% in December from the month before. The NAR also stated that the sale of existing-homes was 9.1% higher in 2013 than in 2012. This would bring completed transactions up to 5.09 million for the year, the highest rate since 2006.
It looks like it’s getting easier for small businesses to attain credit. According to a recent survey released by the National Federation of Independent Business, only 4% of small business owners stated that their credit needs were not met in December. Businesses stating that their credit needs were met reached 32%, which is one of the highest rates since the end of the financial crisis.