According to new consumer spending analysis from the National Association of Home Builders, newly minted homeowners are helping drive a healthy U.S. economy. In their first year of ownership.
Mortgage applications for new home purchases increased 15 percent compared to May 2016. Compared to April 2017, applications increased by 4 percent relative to the previous month.
Renters are starting to look for cheaper housing options outside downtown cores, prompting rent payments to rise faster in the suburbs than in urban areas.
The NAHB is reporting this week that U.S. home builder confidence in the market for newly-built single-family homes jumped six points to a level of 71 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
U.S. commercial real estate executives are especially bullish on industrial, infrastructure and multi-family asset classes in 2017.
Fueled by a growing economy, solid employment gains and rising household formations, single-family housing production in the U.S. will continue on a gradual, upward trajectory in 2017.
Home remodelers' average profit margins have increased since 2011, indicating they are running their businesses more efficiently as residential remodeling activity steadily improves.
The impact of the Federal Reserve's decision this week to raise the Federal Funds Rate by 0.25 percent on all U.S. real estate markets and sectors could be significant in 2017.
Existing-home sales in the U.S. are forecast to muster only a small gain in 2017 because of increasing mortgage rates and shrinking consumer confidence that now is a good time to buy a home.
According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in the U.S. fell 1.9 percent in October 2016
According to the Mortgage Bankers Association's Builder Application Survey for September 2016, U.S. mortgage applications for new home purchases increased 3 percent relative to September 2015.
According to CoreLogic's August 2016 National Foreclosure Report , U.S. home foreclosure inventory declined by 29.6 percent and completed foreclosures declined by 42.4 percent compared with August 2015.
According to CoreLogic, distressed home sales in the U.S., which include REO and short sales, accounted for 7.8 percent of total home sales nationally in June 2016.
Nearly 1.4 million (1,361,188) U.S. residential properties (1 to 4 units) representing 1.6 percent of all residential properties were vacant as of the end of Q3 2016..
STR is reporting this week that their Baird/STR Hotel Stock Index increased 0.9% in August to close the month at 3,349. Year to date, the index is up 8.2%. The Hotel Brand sub-index reported a 1.5% increase to 4,366 in August.
According to the National Association of Realtors, U.S. pending home sales expanded in most of the country in July 2016, and reached their second highest reading in over a decade. Only the Midwest saw a dip in contract activity last month.
NAHB Survey Reports Housing Remains a Priority for Most U.S. Voters. An overwhelming four-out-of-five Americans believe that owning a home is a good investment.
According to the National Association of Realtors, pending home sales in the U.S. were mostly unmoved in June. Increases in the Northeast and Midwest were offset by declines in the South and West.