Skip to main content

Job Growth Pushing Housing Toward ‘Normal’ Levels Team Thayer Real Estate News

home-protectionThe housing market is slowly but surely inching closer to normal levels with the help of economic and job growth.
According to the National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI) released Thursday, markets in 75 of the approximately 360 metro areas nationwide have returned to or exceeded their last normal levels of economic and housing activity in the second quarter of 2015. This is an increase of 13 markets year-over-year.
“The markets are gradually improving and economic and job growth continue to strengthen, which bodes well for housing for the remainder of the year,” said Tom Woods, NAHB chairman and a home builder and developer from Blue Springs, Missouri.
The NAHB reported that the index's score increased on point to .92, which means that the nationwide average is at 92 percent of normal economic and housing activity. Although this increase may seem marginal, this one point rise up places the market closer to the one point goal, indicating that it has returned to normal. In addition, 66 percent of markets have shown improvement year-over-year.
“Of the three elements in the LMI (house prices, permits, and employment), house prices have had the broadest recovery, with 345 markets returning to or exceeding their last normal level,” said David Crowe, NAHB's chief economist. “Meanwhile, 64 markets have met or exceeded their normal employment levels. The housing permit level has made the least progress toward normality, with only 26 markets at or above their last normal level.”
The index found that Baton Rouge, Louisiana continues to top the list of major metros on the LMI, with a score of 1.47, 47 percent better than its last normal market level. Other major metros leading the list include Austin, Texas; Honolulu, Hawaii; Houston, Texas; and Oklahoma City. Rounding out the top ten are San Jose, California; Los Angeles, California; Charleston, South Carolina; Salt Lake City, Utah; and Nashville, Tennessee.
NAHB Graph

Popular posts from this blog

UFC 227 play-by-play and live results #UFC #MMA #UFC227

LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our  UFC 227 discussion thread...

First-Time Home Buyer Mortgage Risk Edge Up Team Thayer Real Estate news.

The first-time buyer share in April, May, and June was launched to new highs, supported by improvements in the labor market, riskier mortgage lending, and continuing low mortgage rates. The  American Enterprise Institute (AEI)  International Center on Housing Risk  recently released a  report , finding that first-time buyers account for 58.8 percent of primary owner-occupied home purchase mortgages with a government guarantee, up from 57.2 percent the prior June, according to the Agency First-Time Buyer Mortgage Share Index (FBMSI). The Combined FBMSI, which measures the share of first-time buyers for both government-guaranteed and private-sector mortgages reached an estimated 52.9 percent, up from 51.6 percent the prior June, according to the report. In addition, AEI determined that the Agency First-Time Buyer Mortgage Risk Index (FBMRI) stood at a series record of 15.83 percent, and increase of half of a percentage point from the average over the prio...

Team Thayer Real Estate House Flipping Traps! #flippinghouses #eugeneoregon #oregon #housing #market #realestate

If you’ve got several leads waiting to turn into potential deals, you can’t wait for one to suddenly come knocking at your door. Successful real estate house flippers have one trait in common: they place an emphasis on proper planning. Once you’ve secured a deal, you must decide what kind of rehab you will perform. Will you conduct a few simple cosmetic upgrades (like these  10 rehab projects you finish in one weekend )? Or, is the home nice enough to sell after  an easy prehab ? Are there structural damages that will require you to carry out more major renovations? Will you focus on implementing environmentally friendly renovations  – also known as “greenhabbing” – so that you  qualify for certain tax benefits ? Once you’ve determined your strategy, it is important to ask yourself these specific questions before diving into the construction action: What are the current market conditions in my area? What does my ideal buyer look like? Does my marketing cam...