National Outlook

BOOMERS RANK THEIR SEVEN MUST-HAVE HOUSING FEATURES

Recently we’ve featured results of AARP’s Age-Friendly Community Survey, diving into a wide variety of boomer preferences ranging from homeownership rates, community ratings, the likelihood or reasons for moving during retirement, most-wanted remodeling modifications, to most-needed outdoor space features. As it turns out, a majority of boomers surveyed want a home that helps them live independent …

Single-Family Starts, Completions Make Big Y-O-Y Gains

Single-family housing starts edged up to a seasonally adjusted annual rate of 778,000 in June, according to the new residential construction report released by the Department of Commerce Tuesday morning. This reading marks a 4.4% increase month-over-month and a 13.4% gain year-over-year and serves as a strong signal of progress as the Spring sales season nears its end. Single-family starts in the …

BREXIT: What will it mean for the U.S. Housing Market?

By Mark Boud, Senior Vice President & Chief Economist/Metrostudy – On June 23, 2016, the British voted by a slim margin to withdraw from the European Union (EU). Those voting to exit the EU cited negative pressures felt regarding immigration and sovereignty. Those wanting to remain in the EU argued that leaving the EU would result in trade barriers, diminished influence in world affairs, reduc …

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Local View

Chicago Housing Market 1Q16: Quarterly Starts Spike & Closings Show Strongest Growth in Seven Years; Concerns Remain About Affordability & Tight Inventory

1Q16 Quarterly New Home Starts Up 11.8% YoY; Annual New Home Starts Up 1.3% YoY. 1Q16 Annual Closings Up 7.4% YoY – strongest closing performance in seven years; Quarterly Closings Up 1.6% YoY. The supply of finished and vacant inventory declined to 2.5 months as of 1Q16, but Metrostudy expects inventory levels will rise slightly later in 2016. JUNE 2016 – Metrostudy’s 1Q16 survey of the twelve co …

RIO GRANDE VALLEY HOUSING 1Q16: New Home Starts Grow 9% YoY, Continuing to Gather Strength on a Slowly Improving Job Market

1Q16 Annual New Home Starts Up 9% YoY; Annual New Home Closings Down 5% YoY. In spite of declines in total inventory, vacant developed lot inventory remains well above what is considered a healthy range with 82.9 months of supply. A small group of active subdivisions produces the majority of new home activity MAY 2016 – Metrostudy’s 1Q16 survey of the Rio Grande Valley housing market shows the ann …

Orlando Housing Market 1Q16: Significant Growth in Starts & Closings; Housing Inventory Increased 32.3% YoY

1Q16 Quarterly New Home Starts Up 3% over 1Q15; Annual Starts were Up 24.1% YoY. 1Q16 Quarterly Closings Up 7% over 1Q15; Annual Closings were Up 6.5% YoY. Starts in the higher price ranges are seeing strong growth: Starts in the $250K to $299K range increased 37.6% YoY while starts below $199K continued to decline. MAY 2016 – Metrostudy’s 1Q16 survey of the new home market in the Orlando MSA – La …

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