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Archive for the Real Estate Category

Builder confidence for 55+ housing market hits record high

baby boomers looking at computer

The market for single-family homes designed for people 55 and older reached a new high in the fourth quarter of 2017. Builder confidence in the 55+ market hit a level of 71, up 12 points from the previous quarter, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) released February 1. This is the highest reading since the inception of the index in 2008. Worth noting is the fact that the fourth quarter’s record high was pushed largely by strong demand and not necessarily sales.  Chuck Ellison, chairman of NAHB’s 55+ Housing Industry Council and Vice President-Land

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Home Construction Up 9.7% in January

More homes were built in the first month of January, starting 2018 on an optimistic note for economic growth and real estate prices. The number of new housing units being constructed rose 9.7% in January from the previous month to an annual rate of 1.326 million, the U.S. Census Bureau/ U.S. Department of Commerce announced February 16. This marked the third increase in four months. The report indicated that builders are also planning to increase construction activity later this year. Permits to build increased 7.4% in January to an annual pace of 1.396 million. Even with this optimistic trend, economists say the

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Existing-Home Sales Hit 11-Year High

The number of existing-home sales increased as a whole for 2017, reaching an 11-year high despite December’s sales subsiding from the previous month. According to the National Association of Realtors (NAR), total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.1 percent in 2017 to a 5.51 million sales pace and surpassed 2016 (5.45 million) as the highest since 2006 (6.48 million). “Existing sales concluded the year on a softer note, but they were guided higher these last 12 months by a multi-year streak of exceptional job growth, which ignited buyer demand,” said Lawrence Yun,

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Akron, OH 44312
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