Home builders know their business well, it seems. Over the last 4 years, builders have predicted with high accuracy the number of home sales they’ll make 6 months into the future. It’s among the reasons why today’s home buyers should rising homebuilder confidence levels.
Today’s home builders feel as good about their sales prospects as at any time in the last 5 years. Buyers should expect rising home prices through the end of 2012 and into early-2013
Earlier this week, the National Association of Homebuilders released its Housing Market Index for August 2012.
More commonly called as the “Homebuilder Confidence Survey”, the HMI is a composite survey, measuring builder sentiment on three fronts — current home sales, current buyer foot traffic, and projected home sales for the next six months.
As reported by this month’s HMI, home builder homes sale expectations through Q4 2012 and Q1 2013 are at their highest points since early-2007. Low mortgage rates vis-à-vis rising rents have changed the Rent vs Buy relationship in a host of U.S. cities. For many would-be buyers, it’s now less expensive to own a home than to rent one.
Buyer foot traffic is soaring, as are home sales are. New Home Sales volume are currently at a 2-year high on a seasonally-adjusted, annualized basis.
So what about all the Shadow Inventory that was going to ruin the market?
While the shadow is very large, one often-overlooked fact is that the shadow isn’t nearly as large as it was two years ago.
…
Barclays Capital estimates that at the end of May there were around 1.8 million mortgages in the foreclosure process and another 1.45 million where borrowers have missed at least three payments. That puts the total number of properties that could be repossessed and resold by banks at around 3.25 million mortgages.
…
But it is down from a peak of 4.25 million in February 2010.
…
[Housing analyst Ivy Zelman] published an in-depth research note earlier with the title: “Shining a bright light on the shadow: Why what’s lurking doesn’t concern us.” In it, she explains how it’s more important to focus on the pace at which foreclosures are being liquidated, and not the absolute number.
“Just like the Wizard of Oz, shadow inventory is not very intimidating once you pull back the curtain,” the report said.
Source WSJ
Spot on with this write-up, I truly feel this site needs much more consideration. I’ll probably be again to read far more, thanks for that info.
cheap uggs online china
Nice post. I understand something even more challenging on unique blogs everyday. It’s going to usually be stimulating to read content from other writers and practice just a little something from their store. I’d prefer to make use of some with the content on my blog whether or not you don’t mind. Natually I’ll provide you with a link on your web blog. Thanks for sharing.
jordans outlet
Hello! I just would like to give an enormous thumbs up for the wonderful info you’ve got here on this post. I might be coming back to your weblog for additional soon.
michael kors bags cheap
This definitely answered my problem, thank you!
nike free runs
http://nikefreeph.yolasite.com/
An impressive share, I just given this onto a colleague who was doing just a little analysis on this. And he in fact purchased me breakfast for the reason that I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to talk about this, I really feel strongly about it and love reading a lot more on this subject. If attainable, as you turn into expertise, would you mind updating your weblog with a lot more details? It really is extremely helpful for me. Major thumb up for this blog post!
michael kors bags
Hello! I just would like to give an enormous thumbs up for the excellent info you’ve got here on this post. I is going to be coming back to your weblog for more soon.
michael kors laptop bag
There’s noticeably a bundle to understand about this. I assume you produced specific nice points in features also.
wholesale nfl jerseys
http://jerseys205.html-5.me/