Eye on the economy
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Eye on the economy
- 1. Eye on the Economy Existing Home Sales Improving August 7, 2014 eyeonhousing.org
- 2. Existing Home Sales 2 •Existing home sales increased 2.4% in July •Remains below July 2013 average •NAR: existing home sales at a rate of 5.15 million • Seasonally adjusted •First-time buyer share continues to lag •Read more here
- 3. Positive Outlook for Existing Sales 3 •NAR pending home sales increased 3.3% in July • Read more here •Consumer confidence increased in August • Read more here •Second quarter GDP revised to 4.2% expansion • Read more here •Home prices rose 6% • Read more here
- 4. New Home Sales 4 •New home sales fell 2.4% in July • Annual rate of 412,000 •Last three month average remained the same • Slower pace than the first two months of the year •Read more here
- 5. Positive Outlook for New Home Sales 5 •Average effective mortgage interest rate at 4.25% • Read more here •A rise in builder confidence • Read more here •New home starts up 8.3% in July • Read more here
- 6. Individual Submarket Conditions 6 •Market share and count of custom home building increased in the second quarter • Read more here •Townhouse market was relatively flat • Read more here •Single-family (built-for-rent) remains off cycle highs • Read more here
- 7. Multifamily Construction 7 •Multifamily (built-for-rent) reached new market share highs • 94% of multi-family construction • Read more here •Multifamily Production Index gained five points for the second quarter • 10th straight quarters above 50 • Read more here
- 8. NAHB and FDIC Survey Data 8 •Acquisition development and construction loan conditions continue to improve • Indicated ongoing easing conditions •Read more here •FDIC data revealed 5.4% growth in stock of outstanding residential AD&C loans in the second quarter • 16% higher than a year a go • Read more here
- 9. NAHB Analysis 9 •Declining trend in new home median lot size • Read more here •Federal Reserve Survey examining household economic conditions • Read more here •Fair Market Rent estimates •Read more here