Eye on Economy - June 25, 2014
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Eye on Economy from June 25, 2014. Talking about confidence levels, home sales, and prices
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Eye on Economy - June 25, 2014
- 1. Eye on Economy A Biweekly look at Housing Economics June 25, 2014 www.eyeonhousing.org
- 2. 2 New Single Family Home Sales Reached Their Highest Pace in Six Years in May. • Home sales were at 504,000 giving May an 18.6% increase since April • Likely due to: • Weather payback - south • Improving job market - West • Read more here
- 3. 3 Housing Market Index Rose Four Points in June • Builder confidence is growing • Some cautiousness remains among builders and consumers • Read more here
- 4. 4 New Single Family Home Sales Reached Their Highest Pace in Six Years in May. • Home sales were at 504,000 giving May an 18.6% increase since April • Likely due to: • Weather payback - south • Improving job market - West • Read more here
- 5. 5 Census Bureau and Department of Housing and Urban Development Estimate that Housing Starts Declined 6.5% • Starts in May • Single-family - down 5.9% • Multi-family - down 8.3% • Likely due to: • Very high April numbers • Read more here
- 6. 6 Home Price Appreciation Appears to be Slowing • S&P/Case-Schiller • 10.8% growth between April 2013 and April 2014 • Federal Housing Finance Agency • 6% growth since March • Read more here
- 7. 7 Producer Prices Declined .2% • Lumber prices rose 1% • OSB prices declined .7% • Gypsum prices declined .7% • Read more here
- 8. 8 Consumer Prices in May Experienced the Largest Monthly Increase since February • 2.1% increase year-over-year • Affected energy, food, and shelter • Real Rent Index • Increased 1.1% • Read more here
- 9. 9 County-level Housing Permit Activity • 1,807 counties saw increase in single family permits • 858 saw decrease • Read more here
- 10. 10 Mortgage Bankers Association Tracks Mortgages for New Homes • Decreased 8.4% • Not seasonally adjusted • Increased 4.9% year-over- year • Read more here
- 11. 11 Quarter One Property Taxes • Top revenue source for local and state governments • 40.3% of total receipts • Read more here