CNNMoney surveyed a large group of economists and over half agreed that the housing market is fueling the economy this year and promoting further growth. Keith Hembre, Chief economist at Nuveen Asset Management, a company offering institutional investment expertise said, “Homebuilding activity will likely remain the strongest growing component of the economy in 2013.” Home sales showed the largest gain in 5 years last year while home construction starts jumped to the highest levels since the recession. More here
Archives for February 2013
Home-Price Index Shows Largest Gain Since 2006
National home prices experienced the largest increase since 2006 at the end of last year according to the S&P Dow Jones. The Case-Shiller and S&P Dow price-index showed home prices climb 5.9% last year in their 10-city index, while the 20-city index showed an annual gain of 6.8%. David Blitzer, the Chairman of the Index Committee at S&P Dow Jones said, “Home prices ended 2012 with solid gains.” More here
December Home Prices Jump 5.8%
According to the latest home-price index from Lender Processing Services, home prices on average increased to $207,000 in December 2012, a 5.8% jump from the previous year. The Lender Processing Services survey included 16,000 U.S zip codes. The company also learned that out of the five major U.S. states, four saw higher home prices from 2011. Home prices increased 0.1% from November to December 2012, a 0.1% gain. More here