Housing Market
Housing Market in Period of Normalcy
After over a decade of wild volatility in the housing market, conditions seems to be settling into a period of normalcy characterized by stability and slow growth. National home prices
Pull Back in Housing Starts but Rise in Permit Activity
Starts dropped in May by 11% from April and came in at an annualized rate of 1.04 million units. The April starts figure was a seven-year high. Despite the drop,
Slight Slowdown in Sales but Continued Stability in California Housing Market
Existing home sales softened in May to 423,360 units from 427,880 in April. Nevertheless, the May number was 8.9% above the figure from May 2014 and represented the second highest
OC Leads Southern California in Housing Market Health
Among the six Southern California counties, Orange County seems to be in the lead in overall housing market health. The median price of a home in the county was at
New Home Sales and Prices Rise in April
New home sales rose more than expected in April to a seasonally adjusted annual rate of 517,000 units, a 6.8% improvement over the March number of 484,000 units and above
The Return of the First-Time Buyer
Homebuilders are reporting that they are seeing more activity from first-time buyers now than in the earlier part of the housing recovery. While the first phase of the recovery was
Existing Home Sales Dip
The National Association of Realtors reported that the pace of existing home sales fell in April to an annualized rate of 5.04 million, a drop of 3.3% from the month
Prices and Sales Volume Up in Southern California
Year-over-year prices were up 6.2% in April to a median of $429,000 in Southern California. Sales volume climbed 8.5%. At the current pace, there is 3.6 months of inventory in
Housing Starts and Building Permits Exhibit New Found Strength
Total housing starts jumped 20.2% from March to April to hit an annualized pace of 1.14 million with single-family starts jumping by 16.7% to 733,000. Building permits rose 10.1% from
New Home Sales Slide
On the heels of earnings misses from DR Horton and PulteGroup, the US Commerce Department reported more disappointing news for the new home market. Sales for new single-family homes dropped
