Real estate housing and economic news round up for November 23 2016…
FHFA Reports US Home Prices Rise 1.5% in Q3 2016
According to the FHFA, U.S. house prices rose 1.5 percent in the third quarter of 2016. House prices rose 6.1% from the third quarter of 2015 to the third quarter of 2016.
Check out the chart showing US home prices:
This is of course for the entire US and not talking about real estate market conditions in the Anderson SC area. I did just post the latest Weekly Market Report so check it out!
Real GDP Growth Projected at 3.7% Annual Rate in Q4
From the St Louis Fed:
The St. Louis Fed’s Economic News Index predicts that real gross domestic product (GDP) will increase at a 3.7% annual rate in the fourth quarter. The projected growth rate for the fourth quarter is about 0.75 percentage points more than that registered in the third quarter. If the projection holds, it would signal that the economy had developed some healthy momentum over the second half of 2016 after increasing at only a 1.2% rate over the first half of the year.
Sounds encouraging for the end of 2016 and could point to a stronger 2017. Remember a strong economy means a healthy housing market and vice versa.
AD&C Financing Standards Continue to Ease
Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans according to NAHB’s survey on AD&C Financing. However, the pace of easing slowed somewhat in the third quarter of 2016 from the rate in the second quarter.
Hopefully we will see more lending as the economy and housing market continues to strengthen.
Must Read: Housing Finance at a Glance
Will This Lead to More Lending? Mortgage Lenders More Confident About Regulatory Compliance
Seeking Justice Almost a Decade Later: Ex-S&P Executive Goes on Trial Before SEC Over Mortgage Bond Ratings
Is This A Sigh of Relief? Gallup U.S. Economic Confidence Remains Positive After Election
Interesting: Why Has Labor Force Participation Increased?
Good News from Richmond Fed:
- Manufacturing Activity Expanded; New Orders Picked Up, Average Wage Increases Broadened
- Activity in Service Sector Increased Modestly in November
Vacancy Rate Flat and Rents Increased: REIS Q3 2016 Apartment Trends
Atlanta Fed’s Commercial Construction Update for Q3 2016
- Pace of Multifamily Construction Appears to Be Slowing
- Available Finance Perceived to Be Sufficient to Meet Demand
- More Hiring on the Horizon?
Read the rest here
National But Very Nice: Sales of New Single Family Houses in October 2016 were 17.8% Above the October 2015 Level
In case I overdose on turkey and dressing and am unable to post, I hope you have a great Thanksgiving!