Permits, Completed Construction Up on Multifamily
A month-over-month rise in permit activity and a burst in completed construction was driven by increased apartment activity. Home builders broke ground on more homes.
Builder Confidence 2nd Best Since 2005, NE Leads
For the second month in a row, confidence among American home builders was stronger -- rising to the second-highest level in more than a decade. The Northeast drove the improvement.
Home Price Appreciation Likely to Moderate
National home prices continued to make gains, but the pace of appreciation is likely to moderate. While the biggest gains had been concentrated in the Northwest, other high-growth areas are emerging.
Pending Home Sales Lowest in Nearly 2 Years
Pending home sales have diminished to the lowest level in nearly 2 years. Although recent hurricanes hurt activity in the South, a quick recovery is expected for the region.
New Home Sales Soar to Decade High
It's been a decade since the pace of new home sales was as strong as it was last month. The biggest month-over-month increase was in the Northeast.
DC Has Highest Mortgage Closing Costs
In the country's capitol, the cost to finance a single-family home is higher than any state in the nation. Costs in the Show Me State are the lowest.
HELOC Production Forecasted to Double
The origination of new credit lines secured by residential properties is expected to double over the next five years thanks to improving market conditions.
West Leads Modest Rise in Existing Home Sales
The first increase in existing home sales during the last four months was led by sales in the West. Hurricanes likely restrained activity in the South.
Multifamily Hurts Housing Permits, Completions
Although there was a month-over-month improvement in the pace of single-family housing permits and completions, apartment activity declined.
Builder Confidence Recovers
After plunging last month, the level of confidence among the country's residential home builders this month more than made up the ground it lost.