The document summarizes housing market indicators for the Lehigh Valley region from November 2013 to 2016. It shows trends such as a decrease in new housing listings and inventory in 2016 compared to previous years, while sales, pending sales, and median home prices increased. Mortgage rates decreased in 2016, and unemployment rates improved at the local, state, and national levels. Builder sentiment was positive with traffic of prospective buyers up slightly from the previous year. Overall, the data indicates a stable but tightening local housing market in 2016.

1. LEHIGH VALLEY HOUSING MARKET SNAPSHOT
NOVEMBER INDICATORS: YEARS 2013-2016
New Listings
% Change
from
Previous
Year Total Sales
% Change
from
Previous
Year
Pending
Sales
% Change
from
Previous
Year
Average Sales
Price
% Change
from
Previous
Year
Median Sales
Price
% Change
from
Previous
Year
Average
Market
Time
% Change
from
Previous
Year Inventory
% Change
from
Previous
Year
Months
Supply
% Change
from
Previous
Year
Nov 2016 665 -12.8% 591 12.4% 594 12.3% 198,102$ 0.8% 178,000$ 5.4% 57 -10.9% 2410 -42.2% 3.6 -47.1%
Nov 2015 763 8.2% 526 9.4% 529 -4.5% 196,486$ -1.1% 168,950$ -4.3% 64 -9.9% 4172 6.1% 6.8 -2.9%
Nov 2014 705 -2.5% 481 -7.5% 554 17.9% 198,738$ 0.5% 176,500$ 3.9% 71 -6.6% 3932 -0.8% 7.0 -1.4%
Nov 2013 723 520 470 197,661$ 169,850$ 76 3962 7.1
Since Mar 1996, closed sales were lowest at 203 in Jan 2009 and highest at 980 in Jun 2005.
Source: Greater Lehigh Valley Realtors .
Efficiency
% Change
from
Previous
Year 1 Bedroom
% Change
from
Previous
Year 2 Bedrooms
% Change
from
Previous
Year 3 Bedrooms
% Change
from
Previous
Year 4 Bedrooms
% Change
from
Previous
Year
% Change
from
Previous
Year
2017 659$ 7.0% 815$ 4.4% 1,038$ 4.0% 1,332$ 4.8% 1,431$ 3.6% Nov 2016 93.8 2.7%
2016 616$ -8.1% 781$ 1.6% 998$ 2.7% 1,271$ 4.5% 1,381$ 0.1% Nov 2015 91.3 2.8%
2015 670$ -0.3% 769$ -0.3% 972$ -0.2% 1,216$ -0.2% 1,379$ -0.2% Nov 2014 88.8 18.2%
2014 672$ 6.5% 771$ 6.5% 974$ 6.4% 1,219$ 6.5% 1,382$ 6.4% Nov 2013 75.1
2013 631$ 724$ 915$ 1,145$ 1,299$
Since 1978, lowest was 51.7 in May 1980. Highest was 112.0 in Jan 2000.
Source: HUD User. Source: "University of Michigan." Federal Reserve Bank of St. Louis.
Allentown-
Bethlehem-
Easton, PA-
NJ MSA
% Change
from
Previous
Year PA
% Change
from
Previous
Year US
% Change
from
Previous
Year Rate
% Change
from
Previous
Year Points
% Change
from
Previous
Year
Nov 2016 4.8% 11.6% 5.7% 21.3% 4.6% -8.0% Nov 2016 3.77% -4.3% 0.5 -16.7%
Nov 2015 4.3% -17.3% 4.7% -13.0% 5.0% -13.8% Nov 2015 3.94% -1.5% 0.6 20.0%
Nov 2014 5.2% -21.2% 5.4% -19.4% 5.8% -15.9% Nov 2014 4.00% -6.1% 0.5 -28.6%
Nov 2013 6.6% 6.7% 6.9% Nov 2013 4.26% 0.7
Denotes Preliminary Figure Since 1971, lowest was 3.35% in Nov-Dec of 2012. Highest was 18.45% in Oct 1981.
Source: FreddieMac.
1 *
% Change
from
Previous
Year 2 *
% Change
from
Previous
Year 3 *
% Change
from
Previous
Year HMI *
% Change
from
Previous
Year
Nov 2016 69 3.0% 69 0.0% 47 -2.1% 63 1.6%
Nov 2015 67 8.1% 69 4.5% 48 6.7% 62 6.9%
Nov 2014 62 6.9% 66 10.0% 45 9.8% 58 7.4%
Nov 2013 58 60 41 54
1 = Current Sales of Single-Family Detached Homes Lowest was 8 in Dec 2008. Highest was 86 in Dec 1998.
2 = Single-Family Detached Sales (Next Six Months) Lowest was 16 in Dec 2008. Highest was 81 in Dec 1998.
3 = Traffic of Prospective Buyers Lowest was 7 in both November and Dec of 2008. Highest was 60 in Nov 1998.
HMI = Housing Market Index Lowest was 8 in Jan 2009. Highest was 77 in Jun 1999.
* An index reading above 50 indicates more builders view sales conditions as good than poor.
Source: National Association of Home Builders (NAHB).
Year Lowest Year Highest Year
Single-Family 943 2015 829 2012 4461 2004
2-4 Family 7 2015 7 2015 126 2005
5+ Family 406 2015 54 2011 734 2014
Source: Real Estate Center Texas A&M University.
PREPARED BY: Annie Osika, VP of Commercial Lending AS OF: December 30, 2016
The Neffs National Bank
5629 Route 873
P.O. Box 10
Neffs, PA 18065-0010
STRENGTH.TRUST.COMMUNITY.
NAHB/Wells Fargo National Housing Market Index and Components
Building Permit Data for Allentown-Bethlehem-Easton, PA-NJ MSA
Average 30-Year Fixed-Rate Mortgage
Consumer Sentiment
Unemployment
US: Since 1948, lowest was 2.5% in May-June of 1953. Highest was 10.8% in Nov-Dec of 1982.
Fair Market Rent Summary
A-B-E: Since 1990, lowest was 3.2% in December 2000. Highest was 10.3% in Jan-Feb of 2010.
PA: Since 1976, lowest was 4.0% in Feb-May of 2000. Highest was 12.7% in Jan-Feb of 1983.
Greater Lehigh Valley Realtors "Activity Overview"
Source: Bureau of Labor Statistics.