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US Built-for-Rent Starts: 1Q 2015
US single-family homes built-for-rent declined to approximately 2,000 starts for 1Q 2015, compared to about 4,000 at the start of 2014. The share and count of built-for-rent starts are off post-recession highs and will approach historical norms as the housing market continues to expand. However, given the relatively small size of this market, care must…
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US Pending & Existing Home Sales: April 2015
The NAR Pending Home Sales Index increased for the fourth straight month in April to a level 14 per cent above April of 2014. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts produced by the National Association of Realtors (NAR), increased 3.4 per cent in April to 112.4, up from…
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US Home Building, Sales, Prices
New housing starts data came out of the US this week with a powerful bang. It is important to note that the highest increase in new home building continues to be in the multi-family sector, but for April even single-family building is up more than 10 per cent on a seasonally-adjusted basis. Other indicators continue…
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US Housing Starts: April 2015
US housing starts jumped to their highest level in nearly 7-1/2 years in April and building permits soared. Groundbreaking surged 20.2 per cent to a seasonally adjusted annual pace of 1.14 million units, the highest since November 2007, the Commerce Department said Tuesday. The per cent increase was the biggest since February 1991. Adding to…
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US REO Inventory
Frannie Mae’s statement Friday on 1Q 2015 US REO inventory, “We continue to experience disproportionately higher credit losses and serious delinquency rates from single-family loans originated in 2005 through 2008 than from loans originated in other years. Single-family loans originated in 2005 through 2008 constituted 12 per cent of our single-family book of business as…
