Dakno Content Blog

Tag: National home builders

  • Report: US Home Prices Rose In January After December Decline

    National home prices rose in JanuaryCorelogic just released some exciting news from the national housing market: Home prices are back on the rise!

    The real estate data provider reported that home prices increased 0.9 percent in January after falling 0.1 percent in December.

    And this is indicative of a larger trend, Corelogic reported. After all, over the last 12 months, prices have actually risen a total of 12 percent, which is the biggest year-over-year gain in over eight years!

    Home sellers are sure to be encouraged by this recent development because it means that they have a better chance of getting the price they want for their property.

    Housing Market Gaining Strength, According to Recent Data

    Here’s an overview of recent activity on the national housing market:

    • Although home prices increased, total home sales actually dropped in January. The National Association of Realtors reported that sales dropped to their lowest level in 18 months.
    • However, the total number of available homes for sale remained low, which is why experts believe prices increased, at least in part.
    • The average rate on a 30-year mortgage showed a 1 percent year-over-year increase, which means that home buying costs are a little higher.
    • Meanwhile, builders started working on 16 percent fewer homes in January when compared to December. That marks the second straight month for decline.
    • Despite recent increases, national home prices are still 17 percent lower than when they were at the peak of the housing market bubble in April 2006.
    • In three states (Louisiana, Nebraska and Texas), prices have set highs. Meanwhile, in 19 additional states, prices are within 10 percent of their peaks.
    • Those states with the largest year-over-year price gains in January were: Nevada (up 22.2 percent), California (up 20.3 percent), Oregon (up 14.3 percent), Michigan (up 13.7 percent) and Georgia (up 13.4 percent).
    • Mississippi was the only state to show declines in home prices.

    Homes With Negative Equity are Decreasing

    Also recently, Core Logic reported that a total of 4 million U.S. homes returned to positive equity in 2013.

    This means that the total number of mortgaged residential properties in the country is now at 42.7 million!

    Meanwhile, roughly 6.5 million homes (or about 13.3 percent of all mortgaged homes in the country), still had negative equity by the end of 2013.

    The decrease in homes with negative equity is another piece of good news for home sellers because it means that home prices throughout the community will be on the rise!  And that is sure to affect the price they can get for their own property.

    Your One-Stop Shop for National Real Estate News

    Check back to our website on April 1 for more pertinent national real estate news that affects you.

    After all, one of the keys to ensuring a successful outcome on the local housing market is to enter it as an informed and prepared buyer or seller.

  • A Very Merry Year End National Real Estate Report

    National housing market salesWhichever way you look at it, the real estate market is finishing strong as we wrap up 2013!

    According to a recent Bloomberg report, several market indicators are showing growth and gains, which is great news for home buyers and home sellers alike!

    Today, we’re going to share with you some of the highlights of this recent report. Happy holidays everyone!

    US Home Sales

    According to the Bloomberg article, purchases of new U.S. homes rebounded during the month of October from the lowest level it’s been in more than a year.

    Specifically, home sales of these new homes jumped 25.4 percent to a 444,000 annualized rate. This was only a month after that figure was down to 354,0000, which was the weakest it’s been since April 2012.

    Experts say that this signals that home buyers are beginning to adjust to higher mortgage rates.

    Aiding this increase in home sales is the fact that there have been employment gains across the board, as well as stock price increases.

    Here’s what else the report revealed about national housing market activity:

    • Home purchases decreased 6.6 percent in September from a 379,000 annualized pace in August.
    • The median home sales price showed a year-over-year decrease of 0.6 percent to $245,800 in October.
    • Home purchases rebounded in all four U.S. regions during the month of October
    • The biggest increase in home purchases was in the Midwest with a 34 percent increase.
    • The supply of homes decreased from 6.4 months to 4.9 months during the month of September
    • There were 183,000 new houses on the market by the end of October, which is down from 190,000 during the previous month.
    • New construction accounted for about 7 percent of the residential market in 2012.
    • Meanwhile, applications for building permits increased by 6.2 percent to a 1.03 million annualized rate, which is the most it’s been since June 2008.
    • That’s compared to a September pace of 974,000
    • There were 2.13 million previously owned homes for sale by the end of October, which is down from 2.17 million during the month of September.

    National Real Estate News at Your Fingertips

    As you can see, our national real estate market is becoming more active as residents everywhere become increasingly optimistic about the state of the housing market.

    This bodes well for 2014 predictions for the national housing market!

    Check back on January 1 as we continue to discuss real estate market activity that affects you!

  • Real Estate Market Showing Signs of Improvement – New Home Construction is Up

    National home constructionMore home builders are committing to projects across the nation, according to a recent Associated Press article.

    In May, home builders applied for permits to build single-family homes at the fastest rate in five years.

    This is a crucial improvement for the real estate market because it will help increase the available inventory of homes for sale, which has fallen short of the demand for such homes in recent months.

    National Real Estate Trends

    Here’s what every prospective home buyer and seller should know about the recent trends in home construction:

    • The rate of homes started increased 6.8 percent in May, to a seasonally adjusted annual rate of 914,000.
    • The increase in May helped to offset the 14.8 percent decline in home starts in April.
    • During the month of May, construction increased in the single-family homes sector as well as for apartments and condominiums.
    • The seasonally adjusted annual rate for the number of applications for single-family home building permits increased by 1.3 percent, to 622,000.
    • That figure is the highest it’s been since May 2008.
    • However, when you consider all permits, that figure actually dropped by 3.1 percent, or to a seasonally adjusted rate of 974,000. This was mostly because of the more volatile apartment permit sector.
    • When broken down by specific region, housing starts in the South increased by 17.8 percent in May.
    • Housing starts increased by 5.7 percent in the West.
    • Conversely, housing starts in the Midwest and Northeast actually fell, by 13.7 and 9 percent, respectively.
    • New-home construction has increased 28.6 percent since May 2012.

    Experts say that housing is the strongest part of the economy in terms of growth.

    They also pointed to an increase in consumer prices as evidence that the housing market is mildly benefiting all sectors of the economy.

    For instance, the Labor Department reported that consumer prices increased slightly in May.

    The Consumer Price Index increased by a seasonally adjusted 0.1 percent between April and May. Over the last 12 months, prices have increased 1.4 percent.

    Your Local Real Estate Experts

    Check back here soon for more valuable insight on the current state of the national housing market and how it is affecting other areas of the economy.

    You’ll also discover how such trends are likely to affect you as a home buyer or seller.