Housing Price Forecasts. Illinois and Chicago PMSA, April 2013
|
|
- Peter Oscar Sullivan
- 5 years ago
- Views:
Transcription
1 Housing Price Forecasts Illinois and Chicago PMSA, April 2013 Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University of Illinois April 21, 2013 Contact: Geoffrey Hewings (hewings@illinois.edu) Xian Fang (fang21@illinois.edu)
2 Housing Forecast April Housing Price Forecast: Illinois and Chicago PMSA, April 2013 The Housing Market In March, both Illinois and the Chicago PMSA experienced positive gains in sales and median prices on a yearly base. The price forecast indicates year-over-year increases in median prices for April, with little or no change for May and June. The sales forecast for April, May and June 2013 suggests continuing gains for Illinois and the Chicago PMSA. Three main sources play major roles in the supply of housing that ultimately affects the housing market - residential construction, housing tax reform and foreclosed properties that clear the market. In March, both Illinois and Chicago PMSA experienced positive gains in sales and median prices on a yearly base. 10,992 houses were sold in Illinois, 13.5% more than a year ago. In the Chicago PMSA, 7,914 houses were sold, 18.1% more than last March. The median price was $135,000 in Illinois, up 3.7% from March last year. Comparable figures for the Chicago PMSA were $155,000 with an annual increase rate of 2.0%. Given the latest average annual pending sales rate, Illinois had enough housing inventory for 5.1 months 1 (down from 9.5 months a year ago). In the Chicago PMSA, the comparable figure was 3.6 months (down from 8.5 months a year ago). Homes at all price ranges experienced decreases in months of supply, due to both less properties being listed and more pending sales. The listing of existing homes for sale has maintained a downtrend since January 2008, 2 but the increasing activity in residential construction signifies a potential adjustment. The listings for sale in Illinois reached 61,484 in March, 46.1% down from 114,068 in the March of On the other hand, the nationwide rising employment in residential construction implied an active response to the low housing supply on the market. According to the Bureau of Labor Statistics (BLS) Employment Situation report, the employment growth for the construction sector ranked third among all industrial sectors. Specifically, the residential building sector created 2,300 jobs and the residential specialty trade contractors added 12,500 positions. However, according to the National Association of Home Builders (NAHB), the rising number of job positions for builders and contractors was accompanied by shortages of construction labor. Unfilled construction positions are at a high post-great Recession level and the successful filling of an open position has become one of the top concerns of builders in 2013 in a survey by NAHB/Wells Fargo. Another hot topic is the tax reform related to home mortgage interest deduction, which can bring both quantity and price effects. The president s budget proposed a 28 percent tax credit to replace the mortgage interest deduction with a limit of $1 million. Meanwhile, there are several other plans proposed as alternatives. Although they are different in details, they consistently aim at raising tax revenues without hurting the promotion of homeownership and fairness. For 1 Months supply of inventory is defined as inventory of homes for sale at the end of the month divided by the average monthly pending sales in the last twelve months. 2 January 2008 is when our records start.
3 Housing Forecast April instance, Viard 3 (2013) proposed a 15 percent refundable tax credit to replace the mortgage interest deduction and limit this credit to mortgages up to $300,000. This proposal is designed to hinder the incentive for construction and investment of high-end homes, which is artificially motivated by the mortgage interest deduction system. According to his analysis, a reduction in the housing tax benefits would not bring strong price effects as long as the supply of housing is responsive. A third source of supply is from the distressed properties and the gradual removal of them from the lengthy foreclosure process can increase the potential housing supply. In March 2013, foreclosure activities improved quietly as in the last few months. The ratio of foreclosure starts to foreclosure sales was 0.72 in March, the sixth consecutive month that presented a ratio below 1. The ratio below 1 indicates a decline in the foreclosure backlog in the court. More specifically, 4,277 houses were newly filed for foreclosures in the Chicago PMSA (19.3% down from a year ago), 5,953 foreclosure sales were processed (up 29.3% than a year ago) and total filings reached 10,230 (3.3% up from a year ago). Since the repossessed properties are under the control of lenders, and their decision to list a property for sale is made in a similar way to a normal listing. Lenders adjust the supply of homes according to the market demand and their price expectations. All the three aspects influence the supply in the long run. Not surprisingly, they involve multiple uncertainties stemming from the general state of the economy, proposed policy changes and market expectations creating a dynamic response in the market conditions for housing. Two consumer confidence surveys in March pointed to different expectations in the near future. The Conference Board Consumer Confidence Index decreased by 12.2% to 59.7 (1985=100) on a monthly basis while the University of Michigan Consumer Sentiment Index reported a continuing month-over-month gain by 3.1% to 78.6 (1964=100). Based on historical data dating back to 2008, the year-over-year forecasts show gains in median prices and sales for both Illinois and Chicago PMSA. The price forecast indicates increases in median prices for April with unchanged levels for May and June on a yearly basis. In Illinois, the median price is forecast to trend up by 3.1% in April, and inch up by 0.4% in May and down by -0.2% in June. For the Chicago PMSA, the comparable figures are 2.2% in April, followed by -0.2% in May and 0.3% in June. The sales forecast for April, May and June 2013 suggests continuing gains for Illinois and the Chicago PMSA. On year-over-year basis, the three month average forecast increases range from 4.4% to 5.9% for Illinois and 7.6% to 10.2% for the Chicago PMSA. Based on the already high sales volume in 2012, the forecasted gains are very encouraging. The Housing Market Current Condition In March, both Illinois and the Chicago PMSA experienced positive gains in sales and median prices on a yearly base. 10,992 houses were sold in Illinois, 13.5% more than a year ago. In the Chicago PMSA, 7,914 houses were sold, 18.1% more than last March. The median price was $135,000 in Illinois, 3.7% up from March last year. Comparable figures for the Chicago PMSA were $155,000 with an annual increase rate of 2.0%. 3 Viard, Alan. "Proposal 8: Replacing the Home Mortgage Interest Deduction: The Hamilton Project." (2013).
4 Housing Forecast April (Reference: Illinois and Chicago PMSA Total Home Sales and Median Home Sales Price figures; Forecast for April 2013 report table) In March, at the latest average annual pending sales rate, Illinois had enough housing inventory for 5.1 months 4 (down from 9.5 months a year ago). In the Chicago PMSA, the comparable figure was 3.6 months (down from 8.5 months a year ago). Homes at all price ranges experienced the decreases in months of supply, due to less listings and more pending sales (Reference: Illinois and Chicago PMSA Annual Months Supply by Price Range figures) In March, market shares of homes at different price ranges kept similar structure as a year ago. For Illinois, the lower end of the market (less than $200K) obtained a market share of 67.9% (down from 69.1% a year ago). The comparable figure for the Chicago PMSA was 61.2%% (down from 62.3% a year ago). (Reference: Illinois and Chicago PMSA Price Stratification figures) In March, average time on market 5 (TOM) decreased more for homes priced in the middle. While homes priced below $200K and above $700K took about three months or more to sell (4%-19% less time than a year ago), most of the homes at the median price levels were sold within 3 months (22%-40% less time than a year ago). (Reference: Illinois and Chicago PMSA Average Time on the Market figures) The Housing Market Forecast and Future Condition The price forecast indicates increases in median prices for April and similar level for May and June on a yearly base. In Illinois, the median price is forecast to trend up by 3.1% in April, and inch up by 0.4% in May and down by -0.2% in June. For the Chicago PMSA, the comparable figures are 2.2% in April, followed by -0.2% in May and 0.3% in June. (Reference: Forecast for April 2013 report table) The sales forecast for April, May and June 2013 suggests continuing gains for Illinois and the Chicago PMSA. On a year-over-year basis, the three month average forecasts point to increases of 4.4% to 5.9% for Illinois and 7.6% to 10.2% for Chicago PMSA. According to the high sales volume in 2012, the forecasted gains are very encouraging (Reference: Forecast for April 2013 report table) The pending home sales index 6 is a leading indicator based on contract signings. This March, homes put under contracts increased both on a yearly basis and a monthly basis. The pending home sales index is in Illinois, 10.7% up from last month and 2.4% up from a year ago. In the Chicago PMSA, the comparable figure is 173.9, 13.0% up from last month and 12.5% up from a year ago. (Reference: Illinois and Chicago PMSA Pending Home Sales Index figure) In March 2013, 4,277 houses were newly filed for foreclosures in the Chicago PMSA (19.3% down from a year ago), 5,953 foreclosure sales were processed (up 29.3% than a year ago) and total filings reached 10,230 (3.3% up from a year ago). The ratio of foreclosure starts to foreclosure sales was 0.72 in March, the sixth consecutive month that had a ratio below 1. The ratio below 1 indicates a decline in the foreclosure backlog in the court. At current annual foreclosure sales rate, it will take 2.30 years to clear the 4 Months supply of inventory is defined as inventory of homes for sale at the end of the month divided by the average monthly pending sales in the last twelve months. 5 Average time on market is defined as the average days from listing to pending for homes at a given month. 6 The base level (100) of pending home sales is the average pending home sales of year 2008.
5 Housing Forecast April entire active inventory 7 and another 1.21 years to clear the limbo inventory. (Reference: Chicago PMSA Foreclosure Activities figure) The Economy In March 2013, according to the Bureau of Labor Statistics (BLS) Employment Situation report, the unemployment rate edged down to 7.6% and the number of nonfarm payroll jobs experienced a weak gain by 88,000. The largest job creation was led by professional and business services (+51,000) and followed by health care (+23,000). In the construction sector, residential building created 2,300 positions and residential specialty trade contractors brought 12,500 positions. In February 2013, according to Illinois Department of Employment Security (IDES) news release, Illinois unemployment edged up to 9.5% from 9.0%. This increasing unemployment rate was explained by an increase in labor force participation rates. People gained confidence in securing a job and reentered the job market, after seeing the job growth over the past few months. By February 2013, Illinois has added 231,200 new private sector jobs since January 2010 when Illinois employment growth resumed after the national recession. The leading growth sectors are Professional and Business Services (+94,700), followed by Educational and Health Services (+53,700), and Trade, Transportation and Utilities (+45,500). Government has experienced the largest job loss (-25,500). In February 2013, the one-year ahead forecast for IL total non-farm jobs has shown gains for all sectors except Construction (-1.97%; -3,700) and Information (-1.11%; - 1,100). Job gains forecast are led by Professional and Business Services (2.83%; 24,800), followed by Education and health (2.46%; 21,500), and Financial Activities (2.08%; 7,700). Longer-term Outlook Two consumer confidence surveys pointed to different directions. The Conference Board Consumer Confidence Index decreased by 12.2% to 59.7 (1985=100) on a monthly basis while the University of Michigan Consumer Sentiment Index reported a continuing month-over-month gain by 3.1% to 78.6 (1964=100). The inventory in both the state and Chicago markets suggest that demand has begun to return to the housing market, noted Geoffrey Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois. However, foreclosed properties are accounting for a sizeable portion of these sales the good news is that foreclosed sales are outpacing new additions to the foreclosure inventory but at a cost of dampening median price increases. 7 The time range used here for the distinction between active inventory and limbo inventory is three years, which is different than the two years range used in the past reports. As a result, the time for selling out the active inventory increases while the time for selling out the limbo inventory decreases.
6 Housing Forecast April Forecast for April 2013 report PERCENTAGE CHANGE FOR THE TOTAL NUMBER OF SALES Annual Monthly Jan % 38.8% -17.4% -15.6% Feb % 22.3% -3.2% -4.6% Mar % 18.1% 31.7% 31.0% 3 Month Avg. 20.3% 25.2% -15.8% -14.5% SUMMARY OF THE FORECAST INTERVALS FOR THE TOTAL NUMBER OF SALES Annual Monthly Apr % 13.9% 14.3% 19.4% 2.4% 3.3% 2.6% 3.5% May % 3.6% 6.3% 8.5% 9.0% 12.2% 9.8% 13.2% Jun % 1.9% 3.7% 5.0% 6.8% 9.2% 6.2% 8.4% 3 Month Avg. 4.4% 5.9% 7.6% 10.2% 28.4% 38.5% 28.2% 38.1% SUMMARY OF THE FORECAST FOR THE MEDIAN PRICE Jan-13 $125,000 $140,000 Jan-12 $123,500 $140,000 Feb-13 $124,000 $140,000 Feb-12 $118,800 $135,000 Mar-13 $135,000 $155,000 Mar-12 $130,230 $151,900 Apr-13 $139,671 $163,475 Apr-12 $135,500 $160,000 May-13 $145,648 $169,593 May-12 $145,000 $170,000 Jun-13 $154,659 $181,951 Jun-12 $155,000 $181,450 ANNUAL PERCENTAGE CHANGE OF THE MEDIAN PRICE Jan % 0.0% Jan % -11.1% Feb % 3.7% Feb % -11.7% Mar % 2.0% Mar % -3.9% Apr % 2.2% Apr % -1.2% May % -0.2% May % 0.6% Jun % 0.3% Jun % 0.8%
7 Housing Forecast April Forecast for March 2012 report PERCENTAGE CHANGE FOR THE TOTAL NUMBER OF SALES Annual Monthly Dec % 21.2% -3.5% -3.1% Jan % 38.5% -17.6% -15.7% Feb % 20.2% -4.5% -6.1% 3 Month Avg. 21.3% 25.9% -18.9% -17.1% SUMMARY OF THE FORECAST INTERVALS FOR THE TOTAL NUMBER OF SALES Annual Monthly Mar % 1.2% 4.4% 5.9% 16.2% 22.0% 16.0% 21.6% Apr % -0.9% 2.7% 3.7% 1.9% 2.5% 1.8% 2.4% May % -5.9% -1.6% -2.2% 12.8% 17.3% 13.0% 17.6% 3 Month Avg. -1.6% -2.2% 1.6% 2.1% 12.6% 17.0% 12.0% 16.3% SUMMARY OF THE FORECAST FOR THE MEDIAN PRICE Dec-12 $131,000 $150,000 Dec-11 $125,000 $145,000 Jan-13 $125,000 $140,000 Jan-12 $123,500 $140,000 Feb-13 $124,900 $140,000 Feb-12 $118,900 $135,000 Mar-13 $129,313 $145,378 Mar-12 $130,105 $151,950 Apr-13 $133,999 $153,385 Apr-12 $135,500 $160,000 May-13 $139,770 $158,500 May-12 $145,000 $170,000 ANNUAL PERCENTAGE CHANGE OF THE MEDIAN PRICE Dec % 3.4% Dec % -13.4% Jan % 0.0% Jan % -11.1% Feb % 3.7% Feb % -11.7% Mar % -4.3% Mar % -3.9% Apr % -4.1% Apr % -1.2% May % -6.8% May % 0.6%
8 Total Sales Median Sales Price Housing Forecast April $160,000 $150,000 $140,000 Illinois Median Home Sales Price $154,659 $151,500 $145,648 $139, Forecast $130,000 $120,000 $125,000 $125,000 $110,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 14,000 12,000 Illinois Total Home Sales 10,992 13, ,439 10,000 8,000 6,000 8,502 6,484 5,610 8,341 4,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
9 Total Sales Median Sales Price Housing Forecast April $190,000 $180,000 $170,000 Chicago PMSA Median Home Sales Price $181,951 $181,000 $169,593 $163, Forecast $160,000 $150,000 $140,000 $140,000 $140,000 $145,000 $130,000 $120,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Chicago PMSA: Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will counties 10,000 8,000 Chicago PMSA Total Home Sales 7,914 9, ,000 6,333 6,039 4,564 4,000 2,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Chicago PMSA: Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will counties
10 Jan-08 Mar-08 May-08 Jul-08 Sep-08 Nov-08 Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 Housing Forecast April Pending Home Sales Index IL Pending Index Chicago Pending Index
11 Price by Ranges Price by Ranges Housing Forecast April Illnois Annual Months' Supply by Price Range Overall K~UP K~700K K~500K K~300K K~200K 0 ~100K Mar 2013 Feb 2012 Mar Overall 700K~UP Chicago Annual Months' Supply by Price Range K~700K K~500K K~300K K~200K 0 ~100K Mar 2013 Feb 2012 Mar Chicago PMSA: Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will counties
12 Share of Total Sales Share of Total Sales Housing Forecast April Illinois Price Stratification 45% 40% 35% 30% 36.1% 36.0% 31.8% 33.1% 2013 Mar 2013 Feb 2012 Mar 25% 20% 15% 10% 15.0% 15.5% 11.4% 10.4% 5% 3.0% 2.7% 2.6% 2.4% 0% 0 ~100K 100K~200K 200K~300K 300K~500K 500K~700K 700K~UP 40% Chicago PMSA Price Stratification 35% 30% 25% 30.2% 31.1% 30.7% 31.6% 2013 Mar 2013 Feb 2012 Mar 20% 15% 16.5% 17.2% 14.5% 13.5% 10% 5% 4.0% 3.5% 3.7% 3.4% 0% 0 ~100K 100K~200K 200K~300K 300K~500K 500K~700K 700K~UP Chicago PMSA: Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will counties
13 Days Days Housing Forecast April Illinois Average Time on the Market (Day) 2013 Mar 2013 Feb 2012 Mar ~100K 100K~200K 200K~300K 300K~500K 500K~700K 700K~UP Chicago PMSA Average Time on the Market (Day) 2013 Mar 2013 Feb 2012 Mar ~100K 100K~200K 200K~300K 300K~500K 500K~700K 700K~UP Chicago PMSA: Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will counties
14 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Housing Forecast April Chicago PMSA Foreclosure Activities 10,000 10,000 9,000 8,000 7,000 Active Inventory Limbo Inventory Foreclosure Inventory New Foreclosure Filings Foreclosure Sales 9,000 8,000 7,000 6,000 6,000 5,000 5,000 4,000 4,000 3,000 3,000 2,000 2,000 1,000 1, Chicago PMSA: Cook, DeKalb, DuPage, Kane, Kendall, Lake, McHenry and Will counties Source: University of Illinois REAL, Record Information Services, Inc.
Housing Price Forecasts. Illinois and Chicago PMSA, December 2015
Housing Price Forecasts Illinois and Chicago PMSA, December 2015 Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public
More informationHousing Price Forecasts. Illinois and Chicago PMSA, March 2016
Housing Price Forecasts Illinois and Chicago PMSA, March 2016 Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs
More informationHousing Price Forecasts. Illinois and Chicago PMSA, June 2012
Housing Price Forecasts Illinois and Chicago PMSA, June 2012 Presented To Illinois Association of REALTORS From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs
More informationHousing Price Forecasts. Illinois and Chicago PMSA, October 2014
Housing Price Forecasts Illinois and Chicago PMSA, October 2014 Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public
More informationHousing Price Forecasts. Illinois and Chicago PMSA, July 2016
Housing Price Forecasts Illinois and Chicago PMSA, July 2016 Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs
More informationHousing Price Forecasts. Illinois and Chicago PMSA, August 2017
Housing Price Forecasts Illinois and Chicago PMSA, August 2017 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationHousing Price Forecasts. Illinois and Chicago PMSA, January 2019
Housing Price Forecasts Illinois and Chicago PMSA, January 2019 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationHousing Price Forecasts. Illinois and Chicago PMSA, March 2017
Housing Price Forecasts Illinois and Chicago PMSA, March 2017 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationHousing Price Forecasts. Illinois and Chicago PMSA, August 2016
Housing Price Forecasts Illinois and Chicago PMSA, August 2016 Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public
More informationHousing Price Forecasts. Illinois and Chicago PMSA, March 2018
Housing Price Forecasts Illinois and Chicago PMSA, March 2018 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationHousing Price Forecasts. Illinois and Chicago PMSA, April 2018
Housing Price Forecasts Illinois and Chicago PMSA, April 2018 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationHousing Price Forecasts. Illinois and Chicago PMSA, January 2018
Housing Price Forecasts Illinois and Chicago PMSA, January 2018 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationHousing Price Forecasts. Illinois and Chicago PMSA, September 2016
Housing Price Forecasts Illinois and Chicago PMSA, September 2016 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationHousing Price Forecasts. Illinois and Chicago PMSA, March 2019
Housing Price Forecasts Illinois and Chicago PMSA, March 2019 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationHousing Price Forecasts. Illinois and Chicago PMSA, May 2018
Housing Price Forecasts Illinois and Chicago PMSA, May 2018 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationMonthly Indicators + 4.8% - 3.5% %
Monthly Indicators 2015 New Listings were up 45.0 percent for single family/duplex homes but decreased 44.1 percent for townhouse-condo properties. Pending Sales increased 14.3 percent for single family/duplex
More informationHousing and Economy Market Trends
Housing and Economy Market Trends Mainstreet Organization Prices of single-family, detached homes in suburban Chicago increased 12.1 percent in May 2014 compared with the same period a year ago. Overall,
More informationMonthly Indicators % % - 3.5%
Monthly Indicators 2017 New Listings were up 6.3 percent for the category but decreased 33.1 percent for the category. Pending Sales increased 5.0 percent for but decreased 1.3 percent for. The Median
More informationQuick Facts. For Week Ending July 14, 2018 Publish Date: July 23, 2018 All comparisons are to % - 2.7% - 14.
Weekly Market Report A RESEARCH TOOL FROM THE SAINT PAUL AREA ASSOCIATION OF REALTORS. BROUGHT TO YOU BY THE UNIQUE DATA-SHARING TRADITIONS OF THE REALTOR COMMUNITY For Week Ending July 14, 2018 Publish
More informationWeekly Market Activity Report
X0A0T Weekly Market Report A RESEARCH TOOL FROM THE MINNEAPOLIS AREA ASSOCIATION OF REALTORS BROUGHT TO YOU BY THE UNIQUE DATA-SHARING TRADITIONS OF THE REALTOR COMMUNITY For Week Ending July 14, 2018
More informationMonthly Indicators + 7.3% + 6.6% + 8.3% Single-Family Market Overview Condo Market Overview New Listings Pending Sales.
Monthly Indicators 2018 The three most prominent national market trends for residential real estate are the ongoing lack of abundant inventory, the steadily upward movement of home prices and year-over-year
More informationHousing Price Forecasts Illinois Metropolitan Statistical Areas
Housing Price s Illinois Metropolitan Statistical Areas R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs, University of Illinois Dr. Geoffrey J.D. Hewings,
More informationTHE OUTLOOK FOR HOUSING IN ILLINOIS
THE OUTLOOK FOR HOUSING IN ILLINOIS Jonathan Smoke Chief Economist January 25, 2017 NATIONAL TRENDS 2 2000.01 2000.05 2000.09 2001.01 2001.05 2001.09 2002.01 2002.05 2002.09 2003.01 2003.05 2003.09 2004.01
More informationMonthly Indicators % % - 9.2%
Monthly Indicators 2016 New Listings were down 1.4 percent for single family/duplex homes and 25.0 percent for townhouse-condo properties. Pending Sales increased 58.3 percent for single family/duplex
More informationHousing and the Economy: Impacts, Forecasts and Current Research 2018 Update
Housing and the Economy: Impacts, Forecasts and Current Research 2018 Update Geoffrey J.D. Hewings, Ph.D. Director Emeritus Regional Economics Applications Laboratory (REAL) University of Illinois Institute
More informationMARKET OUTLOOK FOR SAN MATEO
MARKET OUTLOOK FOR SAN MATEO Jonathan Smoke Chief Economist August 2, 2016 NATIONAL TRENDS 2 JOB CREATION REBOUNDED IN JUNE 229,000 jobs created by month in 2015; 172,000 average this year Employment and
More informationCalifornia Housing Market Update. Monthly Sales and Price Statistics November 2018
California Housing Market Update Monthly Sales and Price Statistics November 2018 Home Sales: Largest Decline Since 2014 California, November 2018 Sales: 381,400 Units, -4.6% YTD, -13.4% YTY 700,000 600,000
More information2017 RESIDENTIAL REAL ESTATE MARKET REPORT
2017 RESIDENTIAL REAL ESTATE MARKET REPORT Published January 26, 2018 Our market reports have been focused on the effects of low inventory on our housing market and for good reason. December 2017 marked
More informationCalifornia Housing Market Update. Monthly Sales and Price Statistics December 2018
California Housing Market Update Monthly Sales and Price Statistics December 2018 Sales Reached the Lowest Level since Jan 2015 California, December 2018 Sales: 372,260 Units, -5.2% YTD, -11.6% YTY 700,000
More informationAnnual Report on the Charleston Area Housing Market FOR RESIDENTIAL REAL ESTATE ACTIVITY FROM THE CHARLESTON TRIDENT ASSOCIATION OF REALTORS MLS
Annual Report on the Charleston Area Housing Market FOR RESIDENTIAL REAL ESTATE ACTIVITY FROM THE CHARLESTON TRIDENT ASSOCIATION OF REALTORS MLS FOR RESIDENTIAL REAL ESTATE ACTIVITY FROM THE CHARLESTON
More informationCalifornia Housing Market Update. Monthly Sales and Price Statistics September 2018
California Housing Market Update Monthly Sales and Price Statistics September 2018 Sales Had the Largest Decline since March 2014 California, September 2018 Sales: 382,550 Units, -3.3% YTD, -12.4% YTY
More informationCalifornia Housing Market Update. Monthly Sales and Price Statistics October 2018
California Housing Market Update Monthly Sales and Price Statistics October 2018 Sales Had the 2 nd Largest Drop in the Last 6 Months California, October 2018 Sales: 397,060 Units, -3.7% YTD, -7.9% YTY
More informationMonthly Indicators % % %
Monthly Indicators 2016 Percent changes calculated using year-over-year comparisons. New Listings were down 27.6 percent for single family homes and 41.8 percent for townhouse-condo properties. Pending
More informationJuly 2012 was $162,256. ($153,956). was $314,607. was $172,488. ($164,426). Kansas City Region Average Sales Price - Existing Homes
July 212 Kansas City Regional Real Estate Market Report Average Sales Price The average exis ng home sale price in July 212 was $162,256. 25 Kansas City Region Average Sales Price - Existing Homes July
More informationEconomic and Housing Market Outlook ( ) October 31, Contra Costa AOR
Economic and Housing Market Outlook (2012 2013) Contra Costa AOR October 31, 2012 Oscar Wei Senior Research Analyst California Association of REALTORS Overview US and California Economies California Housing
More informationCalifornia Housing Market Update. Monthly Sales and Price Statistics May 2018
California Housing Market Update Monthly Sales and Price Statistics May 2018 Sales Lost Momentum as Mortgage Rates Continued to Climb California, May 2018 Sales: 409,270 Units, +0.3% YTD, -4.6% YTY 700,000
More informationHousing and the Economy: Impacts, Forecasts and Challenges
Presentation to the Illinois Financial Forecast Forum, Lombard, IL January 19, 2018 Housing and the Economy: Impacts, Forecasts and Challenges Geoffrey J.D. Hewings, Ph.D. Director Emeritus Regional Economics
More informationMLS of Greater Cincinnati - Charts for the Month: November 2017
MLS of Greater Cincinnati - Charts for the Month: November 2017 The following charts provide an overview of what has occurred in the MLS over the past month. Each chart provides a historical trend. The
More informationMonthly Indicators % + 9.7% %
Monthly Indicators 2016 Percent changes calculated using year-over-year comparisons. New Listings were up 11.1 percent for single family homes and down 30.8 percent for townhouse-condo properties. Pending
More informationThe Market Watch Monthly Housing Report. Coachella Valley Median Detached Home Price Dec Dec 2016
The Market Watch Monthly Housing Report Median Price $450,000 Coachella Valley Median Detached Home Price Dec 2002 - Dec 2016 $400,000 $350,000 $300,000 $339,930 $340,000 $250,000 $200,000 $150,000 CV
More informationMinneapolis St. Paul Residential Real Estate Index
University of St. Thomas Minneapolis St. Paul Residential Real Estate Index September 2017 Welcome to the latest edition of the UST Minneapolis St. Paul Residential Real Estate Index. The University of
More informationECONOMIC CURRENTS. Vol. 3, Issue 1. THE SOUTH FLORIDA ECONOMIC QUARTERLY Introduction
ECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY Introduction Economic Currents provides an overview of the South Florida regional economy. The report contains current employment, economic and real
More informationCalifornia Housing Market Update. Monthly Sales and Price Statistics August 2018
California Housing Market Update Monthly Sales and Price Statistics August 2018 Sales Declined for the 4 th Consecutive Month California, August 2018 Sales: 399,600 Units, -2.1% YTD, -6.6% YTY 700,000
More informationPhoenix, Central and Northern Arizona
Phoenix, Central and Northern Arizona End of Year Housing Report 1-8-354-5664 LongRealty.com 217 End of Year Housing Report SALES & INVENTORY Housing market trends For the overall real estate market in
More informationAnnual Report on the Coastal Carolinas Housing Market RESIDENTIAL REAL ESTATE ACTIVITY IN THE COASTAL CAROLINAS
Annual Report on the Coastal Carolinas Housing Market RESIDENTIAL REAL ESTATE ACTIVITY IN THE COASTAL CAROLINAS RESIDENTIAL REAL ESTATE ACTIVITY IN THE COASTAL CAROLINAS There is an ongoing and undeniable
More informationOutlook for Median Home Selling Prices. United States data are useless for us.
Outlook for Median Home Selling Prices Outline United States Data Unobserved Prices The Future of California s Median Home Price Bill Watkins August 28, 28 2.% Existing Single-family Housing Sales percent
More information2018 Real Estate Forecast Breakfast. Real Estate Market Update
2018 Real Estate Forecast Breakfast Central Oregon Association of REALTORS Real Estate Market Update Paul C. Bishop, PhD, CBE Vice President, Research NATIONAL ASSOCIATION OF REALTORS February 22, 2018
More informationRESIDENTIAL MARKET ANALYSIS
RESIDENTIAL MARKET ANALYSIS EVAN ABRAMOWITZ Joseph Bernard Investment Real Estate Oregon Association of Realtors Student Fellow Masters of Real Estate Development Graduate Student National housing market
More informationHousing Market Cycles
MEGA AGENT Market Update Gary Keller and Jay Papasan 2 The U.S. Housing Market Keller Williams Realty, Inc. Housing Market Cycles 4 The U.S. Housing Market Housing Market Cycles 5 The U.S. Housing Market
More informationHousing Bulletin Monthly Report
October 21 1 Housing Bulletin Monthly Report Housing Starts show Slight improvement in September CANADA Housing Starts 2, 15, 1, 5, Sep 8 Oct 8 Nov 8 Dec 8 Preliminary Housing Starts in Alberta and Canada
More informationHousing Bulletin Monthly Report
February 21 1 Housing Bulletin Monthly Report Housing Starts 25, 2, 15, 1, 5, Alberta Housing Starts up 5 per cent from 29 From February 29 to 21, preliminary housing starts increased 82.7 per cent across
More information2019 Housing Market Forecast. Palos Verdes Peninsula AOR January 8, 2019 Jordan G. Levine Senior Economist
2019 Housing Market Forecast Palos Verdes Peninsula AOR January 8, 2019 Jordan G. Levine Senior Economist Overview Good News: Economic fundamentals solid Homeownership still the dream Rates might not go
More informationReleased: June 7, 2010
Released: June 7, 2010 Commentary 2 The Numbers That Drive Real Estate 3 Recent Government Action 9 Topics for Home Buyers, Sellers, and Owners 11 Brought to you by: KW Research Commentary The housing
More informationReleased: June Commentary 2. The Numbers That Drive Real Estate 3. Recent Government Action 9. Topics for Home Buyers, Sellers, and Owners 11
Released: June 2011 Commentary 2 The Numbers That Drive Real Estate 3 Recent Government Action 9 Topics for Home Buyers, Sellers, and Owners 11 Brought to you by: KW Research Commentary The U.S. housing
More information1200 Premier Drive, Suite 140 Chattanooga, TN Each office is independently owned and operated.
THIS MONTH IN REAL ESTATE K im aulston R REALTOR 1200 Premier Drive, Suite 140 Chattanooga, TN 37421 Each office is independently owned and operated. Cell: 423-316-4022 Office: 423-664-1600 Email: kcraulston@gmail.com
More informationCALIFORNIA ECONOMIC & MARKET OUTLOOK. October 29,2014 Contra Costa Association of REALTORS Leslie Appleton Young, Chief Economist
2014 2015 CALIFORNIA ECONOMIC & MARKET OUTLOOK October 29,2014 Contra Costa Association of REALTORS Leslie Appleton Young, Chief Economist OVERVIEW Economic Outlook California Housing Market Outlook Housing
More informationReal gross domestic product California vs. United States
Real gross domestic product California vs. United States Percent change, year ago 6 4 U.S. California 2 0-2 -4-6 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Source: Bureau of Economic Analysis.
More informationThis Month in Real Estate
Keller Williams Research This Month in Real Estate Released: September 14, 2009 Commentary. The Numbers That Drive Real Estate Recent Government Action. Research for Buyers and Sellers. 2 4 10 14 1 Green
More informationTUCSON and SOUTHERN ARIZONA
TUCSON and SOUTHERN ARIZONA End of Year Housing Report (52) 818-454 Stephen@TeamWoodall.com 217 End of Year Housing Report SALES & INVENTORY Housing market trends For the overall real estate market in
More informationWeak sales persist in Calgary and beyond Jun. 2018
June 218 MONTHLY STATISTICS PACKAGE City of Calgary Weak sales persist in Calgary and beyond 218 City of Calgary, July 3, 218 Many Canadian energyrelated municipalities within Alberta and Saskatchewan
More informationMONTHLY STATISTICS PACKAGE. City of Calgary. May creb.com
MONTHLY STATISTICS PACKAGE City of Calgary May 1 creb.com Housing supply swells in cool spring market MONTHLY STATISTICS PACKAGE City of Calgary May 1 City of Calgary, June 1, 1 Calgary s housing inventory
More informationChanging Economic Times. Market Pulse. Dr. Gary Jackson Director, Regional Economic Research Institute Florida Gulf Coast University April 8, 2008
Changing Economic Times Presented to: Market Pulse Bonita Springs Area Chamber of Commerce Bonita Springs-Estero Association of REALTORS, Inc. Dr. Gary Jackson Director, Regional Economic Research Institute
More informationMonthly Indicators % + 3.1% %
Monthly Indicators A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC. 2018 The booming U.S. economy continues to prop up home sales and new listings in much of the nation, although
More informationMinneapolis St. Paul Residential Real Estate Index
University of St. Thomas Minneapolis St. Paul Residential Real Estate Index October 2017 About the Report: The University of St Thomas Residential Real Estate Index has been developed by the Shenehon Center
More informationHousing market feels the chill as oversupply continues Feb. 2019
February 19 19 MONTHLY STATISTICS PACKAGE Housing market feels the chill as oversupply continues 19, March 1, 19 The effects of Calgary s economic climate continue to create weak sales activity and elevated
More informationQuick Facts. For Week Ending July 29, 2017 Publish Date: August 7, 2017 All comparisons are to % - 4.7% - 16.
Weekly Market Report A RESEARCH TOOL FROM THE SAINT PAUL AREA ASSOCIATION OF REALTORS. BROUGHT TO YOU BY THE UNIQUE DATA-SHARING TRADITIONS OF THE REALTOR COMMUNITY For Week Ending July 29, 2017 Publish
More informationEconomic Highlights. Payroll Employment Growth by State 1. Durable Goods 2. The Conference Board Consumer Confidence Index 3
August 26, 2009 Economic Highlights Southeastern Employment Payroll Employment Growth by State 1 Manufacturing Durable Goods 2 Consumer Spending The Conference Board Consumer Confidence Index 3 Real Estate
More informationFOR IMMEDIATE RELEASE Contact: David B. Bennett President & CEO Phone:
FOR IMMEDIATE RELEASE Contact: David B. Bennett President & CEO Phone: 727-216-32 Email: dbennett@tampabayrealtor.com Real Estate Statistics for September 216 At this time of year everyone starts to get
More informationCALGARY REGIONAL HOUSING MARKET STATISTICS 12.14
CALGARY REGIONAL HOUSING MARKET STATISTICS 12.14 Yearly records set as monthly sales see slight decline Condominium and townhouse sales set a new record for 214 Calgary, January 2, 215 It was a record
More informationMonthly Indicators - 8.0% + 4.2% - 3.4% Activity Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price
Monthly Indicators 2018 If the last few months are an indication of the temperature of housing markets across the country, a period of relative calm can be expected during the last three months of the
More informationSFR Condo Residential Lot Sales Inventory Sales Inventory Sales Inventory. Month YTD Month Month YTD Month Month YTD Month
Grand Strand Market Report 2017 capped off a great year for the Grand Strand as full year SFR sales volume and median sales price were up 9.8% and 4.3%, respectively. Condo sales activity increased 3.0%
More informationHousing Bulletin Monthly Report
August 21 Housing Bulletin Monthly Report 1 C a n a da s P r e li m i n a ry H o u s i n g S ta r t s s l i p i n J u ly Preliminary Housing St arts in Albert a* and Canada* July 28 to July 21 25, Canada
More informationMonthly Market Watch for the Prescott Quad City Area. Provided by Keller Williams Check Realty Statistics from August 2012 Prescott MLS
August 2012 Monthly Market Watch for the Prescott Quad City Area Provided by Keller Williams Check Realty Statistics from August 2012 Prescott MLS Report Overview: This report includes MLS data for the
More informationA A p p r ril 2017
April 17 17 Housing market retains momentum in April Citywide prices hold steady as labour market improves City of Calgary, May 1, 17 Calgary s housing market continued to show signs of stability in April.
More informationProvided by Keller Williams Realty Professional Partners Statistics from September 2010 MLS
Monthly Market Watch for Maricopa County An overview of what is happening in the Maricopa County real estate market (using September 2010 statistics) Report overview: This report includes MLS data for
More informationAAug ugust 2017
August 17 17 Housing recovery a balancing act Growth in new listings outpaced sales preventing inventory declines City of Calgary, September 1, 17 Sales posted a modest gain in August, but a rise in new
More informationPatience required in Calgary's housing market recovery Jul. 2018
July 18 MONTHLY STATISTICS PACKAGE City of Calgary Patience required in Calgary's housing market recovery 18 City of Calgary, August 1, 18 Recent struggles in the job market, accompanied by yet another
More informationMonthly Indicators - 4.9% - 0.7% % Market Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price
Monthly Indicators 2018 If the last few months are an indication of the temperature of housing markets across the country, a period of relative calm can be expected during the last three months of the
More informationMinneapolis St. Paul Residential Real Estate Index
University of St. Thomas Minneapolis St. Paul Residential Real Estate Index Welcome to the latest edition of the UST Minneapolis St. Paul Residential Real Estate Index. The University of St Thomas Residential
More informationA free research tool from the Minneapolis Area Association of REALTORS brought to you by the unique data-sharing traditions of the REALTOR community
A free research tool from the Minneapolis Area Association of REALTORS brought to you by the unique data-sharing traditions of the REALTOR community Buyer activity took another step up in as the final
More informationHousing Bulletin Monthly Report
January 21 1 Housing Bulletin Monthly Report Most new homes built in second half of 29 25, 2, 15, 1, 5, Dec 7 Jan 8 Feb 8 mar 8 apr 8 Alberta s 29 housing starts increased 72.8 per cent over 28, suggesting
More informationMinneapolis St. Paul Residential Real Estate Index
University of St. Thomas Minneapolis St. Paul Residential Real Estate Index Welcome to the latest edition of the UST Minneapolis St. Paul Residential Real Estate Index. The University of St Thomas Residential
More informationMinneapolis St. Paul Residential Real Estate Index
University of St. Thomas Minneapolis St. Paul Residential Real Estate Index Welcome to the latest edition of the UST Minneapolis St. Paul Residential Real Estate Index. The University of St Thomas Residential
More informationAug. Aug 2018 ust 2018
August 18 MONTHLY STATISTICS PACKAGE City of Calgary Unemployment rate slows housing market recovery 18 City of Calgary, September, 18 Easing sales, gains in new listings and elevated inventory levels
More informationSE Michigan Residential Real Estate Recovery Are we there yet or is it over?
SE Michigan Residential Real Estate Recovery Are we there yet or is it over? Changing View of Residential Transactions Changing View of Residential Transactions 2015 Short Sales 3% Leases Bank 11% Owned
More information1 June FNB House Price Index - Real and Nominal Growth MAY FNB HOUSE PRICE INDEX FINDINGS
1 June 2016 MARKET ANALYTICS AND SCENARIO FORECASTING UNIT JOHN LOOS: HOUSEHOLD AND PROPERTY SECTOR STRATEGIST 087-328 0151 john.loos@fnb.co.za THEO SWANEPOEL: PROPERTY MARKET ANALYST 087-328 0157 tswanepoel@fnb.co.za
More informationSep September 2018
18 September 18 MONTHLY STATISTICS PACKAGE City of Calgary Persistent buyers market continues 18 City of Calgary, October 1, 18 With no change in the economic climate, Calgary s sales activity totaled
More informationPuerto Rico Housing Finance Authority Housing Stimulus Programs
Puerto Rico Housing Finance Authority Housing Stimulus Programs March 31, 2012 (Final with US Data) Total sales assisted by PRHFA stimulus from $240MM Fund Assignment As of March 31, 2012 Silent Second
More informationMonthly Indicators % % %
Monthly Indicators 2018 Percent changes calculated using year-over-year comparisons. New Listings were down 12.9 percent for single family homes and 21.3 percent for townhouse-condo properties. Pending
More informationDec December 2018
December MONTHLY STATISTICS PACKAGE Job market weakness and lending restrictions a common thread in s housing market, January, 19 As oversupply continues in Calgary s housing market, December prices eased
More informationQuick Facts. For Week Ending January 12, 2019 Publish Date: January 21, 2019 All comparisons are to % + 6.9% + 2.
Weekly Market Report A RESEARCH TOOL FROM THE SAINT PAUL AREA ASSOCIATION OF REALTORS. BROUGHT TO YOU BY THE UNIQUE DATA-SHARING TRADITIONS OF THE REALTOR COMMUNITY For Week Ending January 12, 2019 Publish
More informationAtlanta Housing Economic Trends
Atlanta Housing Economic Trends February 2015 Note: This information is deemed accurate but not guaranteed. It is intended for the personal use of HBA members only. Atlanta Employment Pace of Employment
More informationINLAND EMPIRE REGIONAL INTELLIGENCE REPORT
INLAND EMPIRE REGIONAL INTELLIGENCE REPORT June 2016 EMPLOYMENT After a slow start to 2016, the Inland Empire s labor market returned to form, in recent job figures. Seasonally adjusted nonfarm employment
More informationHousing Health Report Housing supply outlook suggests market high is leveling off
November 2018 Housing Health Report Housing supply outlook suggests market high is leveling off For the first time since 2011, new and existing housing supply experiences blanket declines. 2018 activity
More informationWeekly Market Activity Report
Weekly Market Report A RESEARCH TOOL FROM THE MINNEAPOLIS AREA ASSOCIATION OF REALTORS BROUGHT TO YOU BY THE UNIQUE DATA-SHARING TRADITIONS OF THE REALTOR COMMUNITY For Week Ending June 30, 2018 Publish
More informationHousing Bulletin Monthly Report
February 211 1 Housing Bulletin Monthly Report Alberta s preliminary housing starts declined in January 211 Canada Housing Starts 25, 2, 15, 1, 5, DEC 8 JAN 9 Preliminary Housing Starts in Alberta* and
More informationUpdate of U.S. Residential Real Estate Trends: Including economic data, current sales, new construction,
THE WRIGHT REPORT Update of U.S. Residential Real Estate Trends: Including economic data, current sales, new construction, interest rates, new construction, and foreclosures. January to June, 2017 www.thewrightinsight.net
More informationQuick Facts. For Week Ending August 13, 2016 Publish Date: August 22, 2016 All comparisons are to % - 2.8% - 17.
Weekly Market Report A RESEARCH TOOL FROM THE SAINT PAUL AREA ASSOCIATION OF REALTORS. BROUGHT TO YOU BY THE UNIQUE DATA-SHARING TRADITIONS OF THE REALTOR COMMUNITY For Week Ending August 13, 2016 Publish
More informationJackson County Residental Market Trends. February Pending Sales New Listings
Jackson County Residental Market Trends February 2017 Pending Sales..2 New Listings..3 Overall activity trends are not a measure of pricing or value for individual properties. Small Sampling sizes can
More informationMay 2008 MLS Month in Review
May 28 MLS Month in Review The Albuquerque Market continues to improve, and it s evident that finally, the negative media is turning into positive media. This month s TOP Selling Price Range is $2K to
More information