Eye on Economy - June 25, 2014

Eye on EconomyA Biweekly look at Housing

EconomicsJune 25, 2014www.eyeonhousing.org

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

Housing Market Index Rose Four Points in June

• Builder confidence is growing

• Some cautiousness remains among builders and consumers

• Read more here

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

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

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

Producer Prices Declined .2%

• Lumber prices rose 1% • OSB prices

declined .7%

• Gypsum prices declined .7%

• Read more here

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

County-level Housing Permit Activity

• 1,807 counties saw increase in single family permits

• 858 saw decrease• Read more here

Mortgage Bankers Association Tracks Mortgages for New Homes

• Decreased 8.4%• Not seasonally

adjusted

• Increased 4.9% year-over-year

• Read more here

Quarter One Property Taxes

• Top revenue source for local and state governments

• 40.3% of total receipts• Read more here

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