Wednesday, July 23, 2014
More good news for Housing
http://m.bizjournals.com/charlotte/news/news-wire/2014/07/22/sales-of-existing-homes-rise-to-fastest-rate-since.html?ana=e_du_pub&s=article_du&ed=2014-07-22&u=kxeEioSKSoHCqLJ35f+lEmOI+em&t=1406119536&r=full
Wednesday, July 16, 2014
Home builders' confidence index jumps in July as housing market benefits from better jobs market - Charlotte Business Journal
Home builders' confidence index jumps in July as housing market benefits from better jobs market - Charlotte Business Journal
- Kent Hoover
- Washington Bureau Chief
- Email | Twitter | Google
Home builders’ confidence in the housing market surged in July, thanks in part torobust jobs growth in June.
The National Association of Home Builders/Wells Fargo Housing Market Indexgained four points in July, hitting 53. That’s the first time it’s cleared 50 — the dividing line between good sales conditions for new single-family homes and poor sales conditions — since January.
NAHB Chairman Kevin Kelly, a home builder from Wilmington, Del., said the better-than-expected jump in the index shows that home builders’ confidence is “strengthening as pent-up demand brings more buyers into the marketplace.”
“As employment increases and those with jobs feel more secure about their own economic situation, they are more likely to feel comfortable about buying a home,” said NAHB Chief Economist David Crowe.
All three components of the Housing Market Index increased in July, with the biggest gain coming in expectations for future sales, which jumped six points to 64. Current sales conditions gained four points to 57, while traffic of potential buyers rose three points to 39.
The most confident home builders are in the West and South, followed by the Midwest. The Northeast lags behind the other regions.
Thursday, July 10, 2014
Charlotte home sales rise 3.7% in June | CharlotteObserver.com
Charlotte home sales rise 3.7% in June | CharlotteObserver.com
Charlotte-area home sales jumped 3.7 percent in June from a year ago as low supplies continue to push prices higher, a report Thursday showed.
There were 3,631 purchases in the month, up from 3,502 a year ago, according to the Charlotte Regional Realtor Association report on existing-home sales.
Prices rose 7.5 percent on average, to $257,854, as the inventory of homes on the market fell to a 5.4-month supply from a 5.9-month supply the same month last year. A widely accepted definition of a seller’s market is one with a six-month supply of listings.
Low supplies, credited with helping boost prices in Charlotte and elsewhere, remain a factor in sizable annual appreciation gains.
“Inventory has been unchanged, fixed at 5.4 months’ supply for the past few months, which means prices across the region should most likely continue to increase as well,” Joe Rempson, president of the Realtors association, said in a statement.
June’s sales increase followed an annual decline in May sales. The Realtors association blamed the May decline largely on big investors scaling back purchases of single-family homes to rent them out.
Wednesday, July 2, 2014
Charlotte-area home prices up 6.6% in May, CoreLogic says - Charlotte Business Journal
Charlotte-area home prices up 6.6% in May, CoreLogic says - Charlotte Business Journal
- Jen Wilson
- Associate Editor/Online-Charlotte Business Journal
- Email | Twitter | Google+
The latest CoreLogic Home Price Index shows home prices in the Charlotte market, including distressed sales, were up 6.6 percent in May from a year earlier.
Home prices that month were up 2.4 percent from April in the Charlotte-Gastonia-Rock Hill metro area, according to the report released Tuesday by data and analytics firm CoreLogic Inc.
With distressed sales such as short sales and real estate-owned transactions removed from the calculation, the local area’s home prices were up 7 percent from a year ago and up 2.3 percent from the previous month.
At the nationwide level, home prices logged a 27th consecutive month of gains, rising 8.8 percent in May from a year earlier with distressed sales included and 8.1 percent without those transactions, CoreLogic (NYSE:CLGX) says. The national monthly increases were 1.4 percent and 1.2 percent, respectively.
“The pace of home price appreciation is cooling off quickly as the weather warms up,” Mark Fleming, chief economist for the Irvine, Calif.-based firm, said in Tuesday’s report. “May’s 8.8 percent year-over-year growth rate is down almost three percentage points from just three months ago. The influences of modestly rising inventory and less-than-expected demand are causing price growth to moderate toward our forecasted expectations.”
In the Charlotte market, too, year-over-year growth in home prices has slowed in recent months.
CoreLogic President and CEO Anand Nallathambi noted the continual climb in home prices across the country has mixed implications for the housing market.
“While the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns,” Nallathambi said in the report. “As we move ahead, a moderation in home price increases over the next twelve months should help cool things down a bit and keep the housing recovery going.”
Friday, June 27, 2014
Office projects will remake Fort Mill development - Charlotte Business Journal
Office projects will remake Fort Mill development - Charlotte Business Journal
- Ken Elkins
- Senior Staff Writer-Charlotte Business Journal
- Email | Twitter | Google+
The development of two regional corporate headquarters at Kingsley Village in Fort Mill is a part of a larger plan to add another mixed-use center in northern York County.
When complete, the community will contain a town center like Baxter Village but with at least two hotels, apartments and about 120,000 square feet of small shops and restaurants. Plus, there’s a plan to add 1,025 homes on the east side of Interstate 77 at S.C. Highway 160, says Kerri Robusto, director of sales, marketing and leasing at Clear Springs Development Co.
Last week, LPL Financial and The Lash Group announced they will eventually bring a combined 5,400 jobs to Kingsley Park, the corporate-center side of Kingsley Village. Robusto says landing the two big clients has resulted in some changes to original plans for Kingsley Village.
“We are tweaking the master plan for Kingsley Village, which brings the LPL campus much closer to town center, and we’re planning a charrette in July to wrap it up in order to get dirt moving,” she says.
Clear Springs will sell about 25 acres to LPL, on which the company plans a 450,000-square-foot regional headquarters, with room for an additional 150,000 square feet. LPL will initially move about 1,000 jobs to Fort Mill from space in Charlotte. Childress Klein Properties of Charlotte will develop the site for LPL.
For Lash, Clear Springs and Childress Klein will develop an initial 250,000-square-foot building on 16 acres, Robusto says. There’s room for an additional 150,000 square feet, say Robusto and Tracy Foster, president of the Lash.
Initially, Lash will move 1,200 jobs to Fort Mill from Charlotte, with plans to eventually double that to 2,400.
Clear Springs has started developing the commercial side of Springfield, another Close family community being built in Fort Mill. That community will eventually have 650 homes and 300,000 square feet of commercial space adjacent to the existing Springfield subdivision and near the Gold Hill Road interchange on I-77.
All of the communities are on about 7,000 acres that the Close family, which once controlled the former Fort Mill-based Springs Industries Inc., owns in northern York County. Baxter Village, which closed out development late last year, is also a part of the Clear Springs plan for developing the family land.
Wednesday, June 11, 2014
Charlotte-area home sales down in May, but prices keep climbing - Charlotte Business Journal
Charlotte-area home sales down in May, but prices keep climbing - Charlotte Business Journal
- Jen Wilson
- Associate Editor/Online-Charlotte Business Journal
- Email | Twitter | Google+
Home sales in the Charlotte area declined in May from a year earlier, according to the latest market report from the Charlotte Regional Realtor Association.
The organization reports on residential real estate data tracked by Carolina Multiple Listing Services Inc. The Realtors group said Tuesday that 3,193 properties in the local market were sold last month, down 6.5 percent from May 2013.
The average sale price in the region inched up 0.9 percent to $235,109 in May, while the median sale price climbed 6.8 percent to $185,000, according to CarolinaMLS data.
Compared with April figures reported by the CRRA, both sales and prices increased in May.
“The CarolinaMLS region has enjoyed strong year-over-year sales for more than two years now," Joe Rempson, association and CarolinaMLS president, said in a news release. "Given the modest increase in sales in April and the fact that mortgage applications were down for much of May, signs indicated that sales this past month might not be as strong as May 2013. However, pending contracts are still signaling demand, which tells us that we should continue to see healthy sales levels moving forward.”
Preliminary pending sales counts for May totaled 4,016, an increase of 14.6 percent from a year earlier, according to the CRRA release.
New listings in the local market were down 1 percent from a year ago, while inventory has declined 3.3 percent, leaving the region with a 5.4-months’ supply of homes for sale. A housing supply of six months is generally considered a balanced market between buyers and sellers.
The area's average list price in May increased 7.2 percent to $285,377, with homes fetching 94.6 percent of the original list price and remaining listed for an average of 126 days.
Distressed activity continues to decline, with foreclosures and short sales accounting for 8.2 percent of sales closed last month, down from 10.5 percent a year ago.
Tuesday, June 3, 2014
Charlotte home prices rise 6.9% | CharlotteObserver.com
Charlotte home prices rise 6.9% | CharlotteObserver.com
Charlotte-area home prices rose 6.9 percent in April from a year ago, as low supplies of properties for sale continued to drive prices higher nationwide, a report Tuesday showed.
The region’s home prices climbed 1.1 percent from March, according to the report from real estate data firm CoreLogic. The figures are based on repeat sales of distressed and nondistressed properties.
Nationwide, home prices are expected to keep rising this year, as the inventory of homes on the market remains tight, Sam Khater, deputy chief economist for the Irvine, Calif.-based company, said in a statement.
Prices nationally jumped 10.5 percent from April 2013 for the 26 month in a row of consecutive year-over-year gains, CoreLogic said. Prices increased 2.1 percent from March.
Like other companies that track the U.S. housing market, CoreLogic says that annual gains in home prices have been slowing.
The national rate of annual appreciation in April marked the slowest pace in 14 months, according to CoreLogic.
CoreLogic projects U.S. home prices will increase about 6.3 percent in May from the same month last year and 1 percent from April.
Subscribe to:
Posts (Atom)