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Other Industry News > Housing
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Existing home sales eased lower in August
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums, and co-ops, slipped 1.8% to a seasonally adjusted annual rate of 5.05 million in August from a slight downwardly-revised 5.14 million in July. Sales are at the second-highest pace of 2014, but remain 5.3% below the 5.33 million-unit level from last August, which was also the second-highest sales level of 2013. The median existing home price for all housing types in August was $219,800, which is 4.8% higher than the August 2013 median. This marks the 30th consecutive month of year-over-year gains. Total housing inventory at the end of August declined 1.7% to 2.31 million existing homes for sales, representing a 5.5-month supply at the current sales pace. For more, click here...
Mortgage rates move higher
Thirty-year fixed-rate mortgages (FRMs) averaged 4.23% for the week ending September 18, up from last week's average of 4.12%, according to Freddie Mac. Last year at this time, the 30-year FRM averaged 4.50%. The 15-year FRM averaged 3.37% this week, up from last week's average of 3.26%. A year ago at this time, the 15-year FRM averaged 3.54%. One-year adjustable-rate mortgages (ARMs) averaged 2.43% this week, down from last week when it averaged 2.45%. At this time last year, the one-year ARM averaged 2.65%. For more, click here...
August housing starts post drop
U.S. housing starts were at a seasonally adjusted annual rate of 956,000 units in August, 14.4% below the revised July estimate but 8.0% higher than the August 2013 rate, according to the Census Bureau and the Department of Housing and Urban Development. Single-family starts in August were at a SAAR of 643,000 units, 2.4% below the revised July figure. Housing units authorized by permits in August were at a SAAR of 998,000 units, 5.6% below the revised July rate but 5.3% higher than the August 2013 estimate. For more, click here...
Builder confidence hits highest level since November 2005
Builder confidence in the market for newly built, single-family homes rose for a fourth consecutive month in September to a level of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index. This latest 4-point gain brings the index to its highest reading since November of 2005. "Since early summer, builders in many markets across the nation have been reporting that buyer interest and traffic have picked up, which is a positive sign that the housing market is moving in the right direction," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. For more, click here...
Mortgage applications increase
Mortgage applications increased 7.9% from a week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Index for the week ending September 12. The previous week's results included an adjustment for the Labor Day holiday. The refinance component of the index increased 10% from the previous week, and the purchase component increased 5%. The unadjusted purchase index increased 14% compared with the previous week, and was 10% lower than the same week a year ago. For more, click here...
Canada's New Housing Price Index unchanged
Canada's New Housing Price Index was unchanged in July, following a 0.2% increase in June, according to Statistics Canada. Monthly price increases in eight metro areas offset decreases in seven areas, resulting in no change to the Canada level index. For more, click here...
Canadian housing starts flat in August
The trend measure of housing starts in Canada reached 189,837 units in August compared to 189,596 in July, according to Canada Mortgage and Housing Corp. The trend is a six-month moving average of the monthly seasonally adjusted annual rate of housing starts. The stand-alone monthly SAAR was 192,368 in August, down from 199,813 in July. For more, click here...
Canadian building permits jump
Canadian municipalities issued building permits worth $C9.2 billion in July, up 11.8% from June and a fourth consecutive monthly advance. The increase in July was mainly attributable to higher construction intentions for multifamily dwellings in Ontario and British Columbia, as well as institutional buildings in Manitoba. The value of residential building permits increased for a fifth consecutive month, up 18.0% to $C5.0 billion in July. For more, click here...
Report indicates stabilizing housing market
Freddie Mac's Multi-Indicator Market Index (MiMi) reached a reading of 73.7, which the agency says reflects a weak U.S. housing market that is improving. The index increased slightly between May and June and has inched up 0.16% in the last three months. Year-over-year, the index has risen 7.67%. The nation's all-time high of 121.87 was in June 2008 and its low of 59.8 was in September 2011. For more, click here...
U.S. house prices inched higher in second quarter
U.S. house prices increased 0.8% in the second quarter, according to the Federal Housing Finance Agency's seasonally adjusted House Price Index (HPI). The gain marked the 12th consecutive price increase in the HPI. For more, click here...
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