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US Home Price Index: March 2015
The Federal Housing Finance Agency and the Standard and Poor’s/Case-Shiller recently released Monday the Home Price Index for March. The price index reported by the Federal Housing Finance Agency (FHFA) decelerated in March, slowing to an annualized growth rate of 4.2 per cent, from 7.8 per cent in February. Monthly growth rates have been volatile…
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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…
