Philadelphia
Real Estate News

NAHB Panel Says U.S. Housing Production Will Gradually Uptick in 2017

NAHB Panel Says U.S. Housing Production Will Gradually Uptick 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. Read More »


Record 103 Million Americans Traveling This Holiday, Most Seeking Warmer Weather

Record 103 Million Americans Traveling This Holiday, Most Seeking Warmer Weather

More than 103 million Americans--the most on record--are expected to travel for the year-end holidays. This represents a 1.5 percent increase. Read More »

Affordability Pressures to Temper U.S. Homebuyer Enthusiasm in 2017, Says NAR

Affordability Pressures to Temper U.S. Homebuyer Enthusiasm in 2017, Says NAR

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. Read More »

U.S. Commercial, Multifamily Mortgage Delinquencies Remain Low in Q3

U.S. Commercial, Multifamily Mortgage Delinquencies Remain Low in Q3

According to the Mortgage Bankers Association's Commercial/Multifamily Delinquency Report, delinquency rates for commercial and multifamily mortgage loans remained low in the third quarter of 2016. Read More »


Global Property Spotlight

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

In the heart of breathtaking Paradise Island adjacent to Nassau, Bahamas, a very rare residential opportunity will soon be available. Opportunities like this are extremely limited on this 685 acre island paradise. Read More »

Last Updated January 11, 2017 9:00 AM ET

Philadelphia

Led by impressive gains in both single-family and multifamily production, nationwide U.S. housing starts surged 25.5 percent in October 2016 to a seasonally adjusted annual rate of 1.32 million units.

The National Association of Home Builders is reporting this week that U.S. builder confidence in the market for newly built single-family homes held steady in November 2016.

The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased 14 basis points to a seasonally adjusted rate of 4.52 percent of all loans outstanding at the end of the third quarter of 2016.

The Baird/STR Hotel Stock Index decreased 0.8% in October 2016 to close the month at 3,108. Year to date, the index remains up 0.4%. Hotel stocks outperformed in October amid low investor expectations and rising interest rates.

According to Freddie Mac's latest Primary Mortgage Market Survey, the average U.S. fixed mortgage rate moved higher in early November.

Millennials entering their prime homebuying years, rising household formation, and continued job gains boosting overall demand are expected to be behind the slight increase in existing-home sales in 2017.

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.

Workspace Property Trust announced last week the purchase of 108 office and flex buildings, plus 26.7 acres of land, in five markets from Liberty Property Trust for approximately $969 million.

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.

The potential exposure to residential property damage from hurricane-driven storm surge flooding is very significant as Hurricane Matthew makes its way toward the U.S. Atlantic Coast today.

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.

the level of commercial and multifamily mortgage debt outstanding increased by $39.9 billion in the second quarter of 2016, as three of the four major investor groups increased their holdings.

According to a forward-looking housing barometer report released this week by Nationwide, U.S. home prices nationally have risen significantly since the 2008 mortgage crisis, but "healthy fundamentals" in the majority of local housing markets signify that another housing bubble isn't imminent.

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.

Freddie Mac's latest Primary Mortgage Market Survey is reporting this week that the average fixed mortgage rate in the U.S. is moving slightly lower for the week helping to spur ongoing refinance activity.

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.


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