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David Crowe

Builder Confidence Optimistic in November

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Builder confidence in the market for newly built single-family homes rose four points to a level of 58 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). "Growing confidence among consumers is what's fueling this optimism among builders," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. "Members in many areas of the country continue to see increasing buyer traffic and signed contracts."Click to continue

Multifamily Developers Remain Positive on Future of the Market

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The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB), reached 54 in the third quarter, four points below the previous quarter's reading. This is the 11th consecutive quarter with a reading of 50 or above. The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so that any number over 50 indicates that more respondents report conditions are improving than report conditions are getting worse.Click to continue

Single-Family Starts Rise 4.2 Percent in October

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Single-family housing production in October reached its highest level since November 2013, while the more volatile multifamily sector brought combined nationwide starts activity down 2.8 percent to a seasonally adjusted annual rate of 1.009 million units, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau.Click to continue

Housing Affordability Tails Off in Q3

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Firming home prices in markets across the country contributed to a slight dip in nationwide housing affordability in the third quarter of 2014, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 61.8 percent of new and existing homes sold between the beginning of July and the end of September were affordable to families earning the U.S. median income of $63,900.Click to continue

Builder Confidence in the 55-Plus Market Shows Q3 Strength

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Builder confidence in the single-family 55+ housing market for the third quarter is up year over year, according to the National Association of Home Builders' (NAHB) 55+ Housing Market Index (HMI) released today. Compared to the third quarter of 2013, the single-family index jumped nine points to a level of 59, which is the highest third-quarter reading since the inception of the index in 2008 and the 12th consecutive quarter of year over year improvements.Click to continue

Housing Markets Nationwide Crawling Toward Recovery

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Markets in 59 of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2014, according to the National Association of Home Builders/First American Leading Markets Index (LMI). This represents a year-over-year net gain of seven markets.Click to continue

NAHB Forecasting 6.6 Percent Jump in Housing Starts in 2014

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A growing economy, rising household formations, low mortgage rates and pent-up demand will help single-family housing production to rev up in 2015 while a growth in renters will keep the multifamily market at cruising altitude or higher, according to economists who participated in yesterday's National Association of Home Builders (NAHB) 2014 Fall Construction Forecast Webinar.Click to continue

New-Home Sales Rise Slightly in September Over August

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Sales of newly built, single-family homes inched up 0.2 percent in September to a seasonally adjusted annual rate of 467,000 units, the highest level in six years, according to newly released data by the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Sales numbers for August were revised down from 504,000 to 466,000.Click to continue

Remodeling Market Index Returns to All-Time High

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The National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) reclaimed the high-water mark of 57 in the third quarter of 2014. This is the sixth consecutive quarter for an RMI reading above 50. An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity.Click to continue

U.S. Housing Production Rises 6.3 Percent in September

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For the third time this year, nationwide housing starts surpassed the million-mark, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Total housing production in September rose 6.3 percent to a seasonally adjusted annual rate of 1.017 million units.Click to continue