Triangle Business Today

Housing data points on the rise

Posted December 20, 2012

Strong news continues throughout housing here in the United States.

The NAHB/Wells Fargo Homebuilder Index increased again in December to a reading of 47. The increased reading gives the index its eighth consecutive month of improving conditions. The index now sits at its highest point in six and a half years, and is just below the threshold of 50, which is the deciding point between sales conditions being perceived as good rather than poor.

The Commerce Department said that housing permits increased by 3.6 percent in November, delivering their highest level since July 2008. This trend continues to support the momentum that we have witnessed in housing throughout 2012.

In the November report out from the National Association of Realtors, existing home sales climbed 5.9 percent, which was its fastest gain in three years. This is certainly great news for homeowners as we enter the first quarter of 2013.

Mortgage rates have risen slightly this week, as the 10-year yield has moved from the low 1.60s into the high 1.70s.

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About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.