eye on economy - june 25, 2014
DESCRIPTION
Eye on Economy from June 25, 2014. Talking about confidence levels, home sales, and pricesTRANSCRIPT
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Eye on EconomyA Biweekly look at Housing
EconomicsJune 25, 2014www.eyeonhousing.org
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New Single Family Home Sales Reached Their Highest Pace in Six Years in May.
• Home sales were at 504,000 giving May an 18.6% increase since April
• Likely due to:• Weather payback - south• Improving job market -
West• Read more here
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Housing Market Index Rose Four Points in June
• Builder confidence is growing
• Some cautiousness remains among builders and consumers
• Read more here
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New Single Family Home Sales Reached Their Highest Pace in Six Years in May.
• Home sales were at 504,000 giving May an 18.6% increase since April
• Likely due to:• Weather payback - south• Improving job market -
West• Read more here
![Page 5: Eye on Economy - June 25, 2014](https://reader034.vdocument.in/reader034/viewer/2022051608/53f1bd618d7f72104c8b4b74/html5/thumbnails/5.jpg)
Census Bureau and Department of Housing and Urban Development Estimate that Housing Starts Declined 6.5%
• Starts in May• Single-family - down
5.9%• Multi-family - down 8.3%
• Likely due to:• Very high April numbers
• Read more here
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Home Price Appreciation Appears to be Slowing
• S&P/Case-Schiller• 10.8% growth between
April 2013 and April 2014
• Federal Housing Finance Agency• 6% growth since March
• Read more here
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Producer Prices Declined .2%
• Lumber prices rose 1% • OSB prices
declined .7%
• Gypsum prices declined .7%
• Read more here
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Consumer Prices in May Experienced the Largest Monthly Increase since February
• 2.1% increase year-over-year
• Affected energy, food, and shelter
• Real Rent Index• Increased 1.1%
• Read more here
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County-level Housing Permit Activity
• 1,807 counties saw increase in single family permits
• 858 saw decrease• Read more here
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Mortgage Bankers Association Tracks Mortgages for New Homes
• Decreased 8.4%• Not seasonally
adjusted
• Increased 4.9% year-over-year
• Read more here
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Quarter One Property Taxes
• Top revenue source for local and state governments
• 40.3% of total receipts• Read more here