Home builders anticipate growth in the market for newly-built, single-family homes.
For June 2012, the National Association of Homebuilders reports its monthly Housing Market Index at 29 — an increase of more than 100% from one year ago and the highest HMI value since May 2007.
When the Housing Market Index reads 50 or better, it’s meant to indicate favorable conditions for builders in the single-family, new-construction market. Readings below (more…)
The number of U.S. housing markets showing “measurable and sustained growth” slipped by 20 in June, according to the National Association of Homebuilders.
The Improving Market Index is meant to identify housing markets in which economic growth is occurring as a whole — (more…)
Falling mortgage rates and stagnant home prices are making a positive effect on home affordability nationwide. Never before in recorded history have so many homes been affordable to households earning a moderate annual income.
Last week, the National Association of Home Builders reported the Home Opportunity Index at 77.5 — its highest reading of all-time. The index indicates that more than 3 of every 4 homes sold last quarter were affordable to households earning the national median income of $65,000.
Last quarter marks the 12th straight quarter — dating back to 2009 — in which the index surpassed 70. Prior to this run, the index had never crossed 70 even once.
That said, like most real estate statistics, the Home Affordability Index has a national purview. National data is of little value to homeowners in specific cities such as Worcester County area , or in specific neighborhoods.
Last quarter, home affordability varied by region.
In the Midwest, for example, affordability was highest. 7 of the top 10 most affordable (more…)
Homebuilder Confidence is on the rise once again.
After a brief dip in April, the National Association of Homebuilders reports that the Housing Market Index rose 5 points in May to 29. The increase marks the sharpest climb in homebuilder confidence on a month-to-month basis in 10 years, and raises the index to a 5-year high.
The Housing Market Index is scored from 1-100. Readings above 50 indicate favorable conditions in the single-family new home market overall. Readings below (more…)
The economic recovery continues nationwide, but the recovery’s an uneven one.
Some metropolitan areas are faring very well this year, posting measurable gains in both employment and housing. Other metropolitan areas, by contrast, are struggling.
To help identify those markets in which growth is occurring, the National Association of Homebuilders created the Improving Market Index, a metric analyzing three separate, independently-collected data series “indicative of improving economic health”.
The IMI’s three collected data series are :
A metropolitan area is considered to be “improving” if all three indicators show growth at least six months after the respective area’s most recent trough, or “bottoming out”.
In May, there are exactly 100 U.S. markets that qualify for the NAHB’s Improving Market Index, down from 101 last month but higher by more than 800% from the reading in September 2011, the index’s inaugural release. (more…)