YOU Magazine - January 2018 - Housing Sector Sets Some Records
Follow Me On:      
Subscribe to YOU Magazine and other timely market alerts from Fred Gruber.

YOU Magazine
Fred Gruber     Fred Gruber
Director / Principal / Broker
First Rate Financial Group
Phone: (800) 620-8802
License: NMLS #256707, CA-DRE 01455710
Corp. License: NMLS #1777223, CA-DRE 02075839
fred@fredgruber.com
www.FredGruber.com
First Rate Financial Group
January 2018



December 2017
November 2017
October 2017
September 2017
August 2017
July 2017


    
Housing Sector Sets Some Records

Housing Sector Sets Some Records

Housing starts, builder confidence and sales of existing homes set some records recently.

New construction really dug in as November Housing Starts jumped, the Commerce Department reported. Starts rose 3.3 percent from October to an annual rate of 1.297 million units, above the 1.259 million units expected. Year over year, Housing Starts are up nearly 13 percent. Single-family starts, which account for the biggest share of the housing market, surged 5.3 percent from October to the highest level since September 2007. Single-family starts also were up 13 percent annually. Multi-dwelling units saw a slight gain of 0.8 percent month over month and an 11.1 percent gain annually.

Building Permits, a sign of future construction, fell 1.4 percent from October but were still above expectations.

Home builders are quite confident about housing market conditions. The December NAHB Housing Market Index jumped five points from November to 74, above the 70 expected. This was an 18-year high! The index is based on a monthly survey of National Association of Home Builders members, designed to take the pulse of the single-family housing market. The survey asks respondents to rate market conditions for the sale of new homes at the present time and in the next six months, as well as the traffic of prospective buyers of new homes.

Meanwhile, Existing Home Sales surged to an 11-year high in November, thanks in part to faster economic growth, record high Stock markets and a strong labor market. The National Association of REALTORS® reported that Existing Home Sales reached an annual rate of 5.81 million units, with three of the four major regions of the country producing gains. This was up 5.6 percent from October and up 3.8 percent from November 2016. Total inventory for sale, however, slumped nearly 10 percent from last year to just a 3.4-month supply. A normal inventory level is considered a 6-month supply. Finally, the median price for all types of homes was up 5.8 percent from November 2016.

At this time home loan rates remain near historically low levels. If you have any questions about home loan rates, refinancing or home loans, please reach out to me.

Enjoy this month's issue of YOU Magazine.


First Rate Financial Group is Licensed by the California Department of Real Estate - #02075839, NMLS #1777223

You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Fred Gruber. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials.

INVITE A FRIEND to receive YOU Magazine. Please feel free to invite your friends and colleagues to subscribe.

SUBSCRIBE to YOU Magazine. If you received this message from a friend, you can subscribe online.

UNSUBSCRIBE: If you would like to stop receiving emails from Fred Gruber, you can easily unsubscribe.

First Rate Financial Group
3027 Townsgate Road, Suite 110
Westlake Village, CA 91361

Powered by Platinum Marketing

© Copyright 2023. Vantage Production, LLC.