22
Feb
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Real Estate, ,

FOMC Meeting Minutes: Why Fed’s Rate Policy Reversed Course

After raising the target range for the federal funds rate in 2018, the Fed's Federal Open Market Committee did not raise the Central Bank's key interest rate at its meeting of January 29 and 30. While Committee members did not raise the Fed's key rate, members were divided on the interest rate decision. FOMC Members Divided On Interest Rate Decision Minutes of January's FOMC meeting indicated that member viewpoints varied about how the Fed should deal with the Fed's target interest rate range. One group said that interest rate increases may be necessary if inflation increases above the Federal Reserve's…
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31
Jan
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Real Estate, ,

Case-Shiller: Home Prices Lower in November

Home price growth continued to struggle in November, with Case-Shiller's 20-City Home Price Index moving from October's reading of 5.30 percent annual growth to 5.20 percent growth in November. This was the lowest reading since January 2015. Las Vegas, Nevada remained first in home price growth rate with a year-over-year home prices growth of 12 percent. Phoenix, Arizona's year-over-year home price growth rate was 8.10 percent and Seattle, Washington held third place with a year-over-year home price growth rate of 6.30 percent. Las Vegas' large year-over-year growth in home prices was attributed to the city's ongoing recovery from the recession…
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17
Jan
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Real Estate, ,

NAHB: Home Builder Confidence Grows After Lowest Level in 3 Years

After two months of declining builder confidence, the National Association of Home Builders Housing Market Index gained two points in January with a reading of 58. Component readings of the HMI were also higher with builder confidence in current market conditions rose two points to an index reading of 63. Builder confidence in housing market conditions over the next six months rose three points to 64. The index for buyer traffic in new housing developments rose one point to 44. While index readings above 50 indicate positive market conditions, the index reading for buyer traffic is typically lower than 50.…
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21
Dec
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Real Estate, ,

Big Cities vs. Secondary Markets: Where to Buy?

Atlanta, Charlotte, New York and Los Angeles are always on the real estate radar because of big ticket sales and good media coverage. The secondary markets - those markets without the celebrity undertones - may actually be better deals. With the price of borrowing money rising and occupation rates dropping in primary markets, places like Nashville and Birmingham are looking better to investors. Where Are the Secondary Markets? A secondary market is generally defined as a mid size or large city that has recorded an uptick in growth in the immediate past. They do not have quite the economic clout…
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29
Nov
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Real Estate, ,

NAHB Reports Lowest Builder Confidence Reading Since 2014

Obstacles facing home builders have caught up with high builder confidence according to the National Association of Home Builders Housing Market Index for November. Builder confidence dropped eight points to an index reading of 60, which was the largest month-to-month drop in builder confidence since 2014. November's decline in builder confidence was greater than the largest month-to-month decline during the housing crisis. Housing Market Index readings over 50 are considered positive, but analysts said that long-standing headwinds caught up with home builders' outlook on housing market conditions and sub-categories used to comprise the overall Housing Market Index reading. Obstacles Impacted…
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