C21AGVoices

Home builders are gaining confidence in current and future market conditions for new homes, but continue to see below-average foot traffic in new homes.

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RealtyTrac recently reported that national foreclosure filings are down while foreclosure filings are seeing marked increases in some states.

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The Bureau of Labor Statistics released its monthly Non-farm Payrolls and National Unemployment Rate for April last Friday. These two reports are collectively called the Jobs Report.

165,000 jobs were added in April, while the unemployment rate dropped from 7.60 percent in March to 7.50 percent in April.

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Housing markets continue to improve according to the S&P Case Shiller Home Price Indices released April 30 for February’s data.

The Indices consist of a 10-City Composite Index and a 20-City Composite Index with housing markets for each city reported based on a three-month rolling average of home prices.

The data released yesterday comprised the Indices’ highest growth rates since May 2006.

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According to the the latest Foreclosure Inventory Analysis showed nearly 1.5 million properties were currently in the foreclosure process or being held by banks as Real Estate Owned.

This was up 9 percent from the first quarter of 2012, but down significantly from the apex of foreclosure activity — 2.2 million units — in December 2010.

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The National Association of REALTORS® released its Existing Home Sales report for March on Monday.

Sales dipped from February’s seasonally adjusted annual rate of 4.95 million to 4.92 million existing homes sold in March, a decrease of 0.6 percent month-to-month.

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The National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI) report for April shows that builder confidence slipped by two points to a rating of 42 from the March reading of 44.

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Last week, the S&P/Case-Shiller Index showed home prices gaining 8.1 percent during the 12-month period ending January 2013, marking the largest year-over-year increases since the summer of 2006.

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Existing home sales have increased by 10.2 percent as compared to 4.52 million existing home sales for February 2012, and have increased for 20 consecutive months. Read more…

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The National Association of Home Builders (NAHB) released its NAHB/Wells Fargo Housing Market Index for March on Monday. Home builder confidence fell for the third consecutive month with a two-point drop to a reading of 44 in March.

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