Reasons to be optimistic about the housing market
By Patrick L. O’Toole, Editorial Director and Publisher | April 2, 2013
The annualized rate of new single-family home construction in January 2013. This number is up 20 percent from a year earlier. It also is the highest level of new-home construction since July 2008.
The American Institute of Architect’s Architectural Billings Index in January 2013, its highest level since November 2007.
The dollar volume of mortgage-backed securities projected to be issued in 2013, according to the American Securitization Forum, up from $4 billion in 2012. The peak in issuance of mortgage-backed securities was $1 trillion in 2006.
The number of months for the supply of existing homes for sale (1.74 million) to be exhausted at the market’s current pace, says the National Association of Realtors. It’s the lowest level since April 2005. A normal market carries about six months supply.
The number of months’ supply of all houses for sale at the end of 2010.
The increase in the Standard & Poor’s Case-Shiller 20-city home-price index in December 2012 from one year earlier.
Number of people rehired by Eugene, Ore.-based lumber mill company Swanson Group. Inc., to handle increased demand for timber related to increased demand from builders.