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Business Outlook Archive


Remodeling Market Index over 50 for 10 Straight Quarters

NAHB’s Remodeling Market Index (RMI) was 57 in the third quarter—two points down from the previous quarter, but the tenth straight quarter it has been above the key break-even point of 50. The RMI and all its components lie on a scale of 0 to 100, where an index number ...


Existing-Home Sales Speed up in September

Existing-home sales rebounded strongly in September following August’s decline and have now increased year-over-year for 12 consecutive months, according to the National Association of REALTORS®. All four major regions experienced sales gains in September. ...


Consumer Credit Default Rates Decrease in September 2015

Consumer credit default rates decreased in September 2015, with the composite rate ranking at 0.89 percent, down seven basis points from the previous month, according to data released by S&P Dow Jones Indices and Experian. The bank card default rate was 2.77 percent for September, up six basis points from ...


Underwater Properties Down 1.2 Million from Year Ago

Underwater properties have continued to sink in numbers, according to the recently released RealtyTrac® Q3 2015 U.S. Home Equity & Underwater Report. The new data shows that as of the end of the third quarter there were 6,917,673 U.S. residential properties seriously underwater ...


Builders Build More Homes

Housing starts for the month of September rose 6.5 percent to an eight year high of 1.206 million units on a seasonally-adjusted annual basis. The increase was all in the multifamily sector, rising 18.3 percent to 466,000. Single-family starts were virtually unchanged at 740,000. This is the first month total ...


Remodeling Spending to Accelerate into New Year

After several quarters of slackening growth, home improvement spending is projected to pick-up the pace moving into next year, according to the Leading Indicator of Remodeling Activity (LIRA) released recently by the Remodeling Futures Program at the Joint Center for Housing Studies of ...


Builders Confidence Grows

The NAHB/Wells Fargo Housing Market Index for October jumped three points from a one-point downwardly revised September. The October level of 64 conforms to levels last seen as the boom began to taper in late 2005. Even with headwinds in the supply chain, builders still report increasing consumer interest in ...


Economic Growth Expected to Weather Headwinds

Economic growth for the third quarter of the year likely came in weaker than expected, largely because of a worsening net exports picture, but fourth-quarter growth is expected to withstand ongoing headwinds, according to Fannie Mae’s Economic & Strategic Research (ESR) Group. Slowing ...


Americans Think Homeownership Is a Sound Investment

A vast majority of Americans believe that buying a home is a solid financial decision, and most believe they could sell their home for at least its initial purchase price, according to a new survey from the National Association of REALTORS®. The 2015 ...


Foreclosure Activity Increases in 32 States

There were a total of 327,258 U.S. properties with foreclosure filings in the third quarter of 2015, down 5 percent from the previous quarter but up 3 percent from the third quarter of 2014, according to RealtyTrac's recently released Q3 and ...


Homeowners Overvalued their Homes for the Eighth-Straight Month in September

Appraiser opinions of home values in September were 2 percent lower than homeowner’s views, according to Quicken Loans' national Home Price Perception Index (HPPI). The gap between the two values narrowed in September compared to the previous month, although the findings marked the eighth consecutive month homeowner estimates outpaced appraiser ...


Bill Proposing TRID Hold-Harmless Period Passes House

As the real estate industry proceeds with implementation of the now-effective TILA-RESPA Integrated Disclosure rule (TRID), a bill designed to assist smaller lending, title and escrow companies with compliance passed the House of Representatives on Wednesday, October 7. The bill, titled the ...


‘Zombie’ Foreclosures Down 43 Percent

In Q3, 20,050 U.S. residential properties in the foreclosure process—but not yet repossessed by the foreclosing lender—were vacant “zombie” homes as of the end of the third quarter of 2015, down 27 percent from the previous quarter and down 43 percent from a ...


How New Homebuyers Finance Their Homes across the Nation

Non-conventional forms of financing new single-family home purchases remained elevated in 2014, but their use and mix varied widely across the country, according to NAHB analysis of a recent Census Bureau Survey of Construction (SOC) data. In the West North Central division, only ...


Share of Chinese-Speaking Buyers Paying Cash for U.S. Homes Increased 229 Percent in 10 Years

A recent joint analysis found that 46 percent of Mandarin Chinese-speaking buyers who purchased U.S. homes in the 17 months ending in May 2015 paid all-cash, up 229 percent from the 14 percent share paying all-cash in 2005—the biggest increase of any language ...


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