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Featured Advisor



Kim Butler
President

Partners for Prosperity, Inc.

City:Mt. Enterprise

State: TX



BIOGRAPHY:
I have 20+ years of handling alternative investments in cash, growth and income for clients nationwide.  I strive to help my clients with all things financial in every way possible over the phone and the web.  I own an alpaca farm which I enjoy working during my downtime.  I also enjoy gardening, writing and reading books.  I also train other advisors on Prosperity Economics.

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Real Estate Market Trends: Home Building, Permits Up

Home building activity rose modestly in February, while permits rose 4.6 percent, according to the latest real estate market trends reported by the Commerce Department today.

| BY Adriana Reyneri

New home construction picked up 0.8 percent in the month of February to a seasonally adjusted annual pace of 910,000, according to the latest real estate market trends reported today by the Commerce Department. The rate is 27.7 percent higher than the 718,000 pace for February 2012.

The modest monthly increases follow an 8.5 percent drop in home building reported by the Commerce Department for January.

Building permits – an indicator of future real estate market trends – were issued at a seasonally adjusted annual rate of 946,000 in February, a 4.6 percent increase from January and 33.8 percent above the February 2012 estimate of 707,000.

Homes were completed at a seasonally adjusted annual rate of 711,000 in February, a decrease of 0.6 percent from the 715,000 for January, but 24.3 percent higher than the 572,000 rate for February 2012.

In related real estate market trends, confidence among home builders slipped in March, according to Housing Market Index data released yesterday by the National Association of Home Builders or NAHB. The index slipped two points to settle at 44, down from a six-year high of 47 reported in December and well below the break-even point of 50 indicating equal numbers of builders expect market conditions to improve or worsen. Rising materials and labor costs are weighing on builders’ confidence, according to the NAHB, and tight credit conditions and low appraisals continue to constrain sales.

An analysis of real estate market trends released yesterday by the National Association of Realtors or NAR shows that strengthening demand, shrinking inventory and rising home prices are reducing mortgage delinquency rates in some of the housing markets hardest hit by the recession.

Millionaire Corner data shows that the housing market recovering has helped Americans rebuild their wealth and boost the  number of Millionaire households in the U.S.

Further measures of prevailing real estate market trends will be available on Thursday when NAR reports the existing home sales for February and the Federal Housing Finance authority releases its House Price Index for January. 

Existing home sales were essentially flat in January.