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Housing Market Growth Expands

The housing market growth has spread to 274 metropolitan cities according to the National Association of Home Builders Improving Markets Index. The expansion has brought new jobs and local tax revenues to an increasing amount of cities as well as home starts and sales. David Crowe, the NAHB Chief Economist said, “with just over 75 percent of the 361 metros covered by the IMI now seen as improving, the housing market is on considerably more solid footing than it was at this time last year.” More here

Home-Building Demand Soars

According to the National Association of Home Builders, builder confidence has dropped slightly, but home-building demand continues to increase. The Chairman at the NAHB, Rick Judson said, “many of our members are reporting increased demand for new homes in their markets.” Building supply companies are finding it difficult to keep up with the high demand in supply. The long term prognosis for home building supply and demand is expected to grow over the coming six months. More here

Housing Starts Create Ripple Effect

The Housing Market Index from The National Association of Home Builders has been released and conveys optimism. Housing starts remain growing, which in return, creates more jobs and more money spent by consumers. Gus Faucher,  senior economist at PNC Financial Services said “We saw housing starts fall by about 75 percent after the great recession, we’ve seen a modest recovery since then, but there’s still room to grow.” Inflation seems to be under control as well, keeping loan interest rates down. More here

Improving Housing Markets Stretch To Many Metropolitan Cities

Parameters established by the National Association of Home Builders/First American Improving Markets Index (IMI) states the housing market is considered to be improving. Many metropolitan areas are being restored, and the improved housing market in metros have increased to an overall amount of 201 in December. The (IMI) also shows states obtaining at least one metropolitan city have also shown signs of growth since November. For approximately 6 months, imperative measures of housing and economic growth have been holding steady in many metropolitan cities. More here

Increased Demand Boosts Builder Confidence in November

The National Association of Home Builders Housing Market Index measures builder confidence in the market for newly built, single-family homes on a scale where any number below 50 indicates that more builders view conditions as poor than good. In November, the index rose five points to 46. It was the seventh consecutive monthly gain and a significant improvement over last year’s reading of 19. Builder confidence is now at its highest level since May 2006. Barry Rutenberg, NAHB’s chairman, said builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink across the country. Components measuring current sales conditions and expectations for the next six months both experienced gains, as did all four regions of the country. More here.

Improving Markets Index Adds 22 Metros In November

The National Association of Home Builders Improving Markets Index identifies metropolitan areas that have experienced at least six consecutive months of improvement in housing permits, employment, and home prices since their respective bottoms. In November, the list of improving markets expanded by 22 metros bringing the total for the month to 125. It was the third consecutive monthly gain and nearly 100 cities better than last November’s total. Barry Rutenberg, chairman of the NAHB, said the housing recovery is firmly taking root and helping generate jobs and growth across the country. The geographic diversity of the index also improved, with 38 states and the District of Columbia now represented on the list. New additions to the index include San Diego, Calif.; Gainesville, Ga.; Omaha, Neb.; Louisville, Ky.; and Charlotte, N.C. More here.

Housing Outlook Calls For More Market Momentum

According to the outlook of a group of economists recently gathered by the National Association of Home Builders, the housing market is recovering steadily and should continue to gain momentum though next year and beyond. David Crowe, NAHB’s chief economist, said we’re seeing a more robust housing sector than other parts of the economy due to rising home prices across the nation. The NAHB is forecasting a 21 percent increase in housing starts this year and an additional 26 percent climb in 2013. Mark Zandi, chief economist of Moody’s Analytics, believes low mortgage rates, job market gains, and less economic uncertainty will lead to an acceleration in GDP growth as well as new home construction. A big part of this optimism is the housing market, Zandi said. Also, NAHB’s vice president of forecasting and analysis, Robert Denk, said that housing production should be 55 percent back to normal by the end of next year. More here.

Builder Confidence Up For Sixth Straight Month

The National Association of Home Builders Housing Market Index measures builder confidence in the market for new, single-family homes on a scale where any number above 50 indicates more builders view the market as good than poor. In October, the index increased to 41. It was the sixth straight month of gains and put confidence at its highest level since June 2006. Barry Rutenberg, NAHB’s chairman, said many builders are reporting increases in the number of serious buyers visiting their sales offices and the overall confidence measure is much higher than it was a year ago. October’s gains were driven by a five point increase in the component measuring traffic of prospective buyers, which rose to its strongest reading since April 2006. Regionally, builder confidence was up in three of four regions, with the Northeast unchanged from the month before. More here and here.

Improving Markets Index Climbs To Record Level

The National Association of Home Builders Improving Markets Index identifies metropolitan areas that have seen six consecutive months of gains in housing permits, employment, and home prices. In October, the index reached the highest number of metros recorded since the list was created in 2011. A total of 103 markets made the list, up from 99 in September. Barry Rutenberg, chairman of the National Association of Home Builders, said 11 new housing markets were added to the list in October, while 92 metros retained their spot. According to Rutenberg, the gains are an encouraging sign that the housing recovery is proceeding at a steady pace. A total of 33 states and the District of Columbia are now represented on the list. New markets added to the Index in October include Santa Cruz, Calif.; Abilene, Texas; and Savannah, Ga. More here.

Builder Confidence Rises To Highest Level Since 2006

The National Association of Home Builders Housing Market Index measures builder confidence in the market for newly built, single-family homes. The monthly survey asks builders for their perceptions of the current market, traffic of prospective buyers, and expectations for the next six months, then scores each component on a scale where any number over 50 means more builders see conditions as good than poor. In September, the index rose to 40, the highest level since June 2006 and the fifth straight month of improvement. David Crowe, NAHB’s chief economist, said builders across the country are expressing a more positive outlook and are seeing more traffic through their model homes than they have in more than five years. More here and here.

 

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About Us:

As a company that cares about people, Diamond Residential Mortgage Corporation is keenly focused on meeting the needs of our customers.

At DRMC we do business with old fashioned beliefs and values – people working with people to get the job done. Our company is made up of experienced mortgage banking professionals where the founders of the company collectively have accumulated 200 years experience in the mortgage industry.

With excellent technology and our highly skilled team of mortgage professionals we put our heart and soul into people working with people locally to deliver our products with integrity, on time, error free and with a goal of “Recommendation Without Reservation.”

We welcome you to join our family as a customer, future employee or as a friend!

Contact:

Diamond Residential Mortgage Corporation
Serving the Residential Home Mortgage Loan Community
3701 E. Grand Ave., Suite E
Gurnee, IL 60031
Office: (847)244-9301
Toll Free: (800)253-4788
Fax: (847)244-9332

Email:

info@drmconline.com

Website:

www.diamondresidential.com

 

Diamond Residential Mortgage Corporation (DRMC) Disclosures and License Information:

DRMC is an Equal Housing Lender and an Illinois Residential Mortgage Licensee. DRMC fully complies with the Equal Credit Opportunity Act, Real Estate Settlement Procedures Act, Regulation Z, Regulation X, MDIA, TILA, and all other Federal and State Regulations. We are licensed in the following States under the corresponding license numbers.

Illinois:

Licensed through the Department of Financial and Professional Regulation Division of Banking, License # MB.6760694

Iowa:

Licensed Applied For

Indiana:

Licensed through the State of Indiana Department of Financial Institutions, License # 11238

Kansas:

Licensed through the Office of the State Bank Commissioner Consumer and Mortgage Lending Division, License #MC.0025034

Michigan:

Licensed through the Department of Energy, Labor and Economic Growth Office of Financial and Insurance Regulation, License # FL 0016994

Minnesota:

Licensed through the State Of Minnesota Department of Commerce, License # 40179067

Missouri:

Licensed Applied For

Wisconsin:

Licensed through the State of Wisconsin Department of Financial Institutions, License # 700297

 

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