Buzz Feed

Residential Construction Down in June

By Michael Neal Following two consecutive monthly increases, single-family starts fell by 9.1 percent over the month of June to a seasonally adjusted annual rate of 858,000, according to a joint release by the Census Bureau and the Department of Housing and Urban Development. However, over the quarter, starts of single-family houses was about flat, rising by 1.2 percent to …

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Slightly Longer Hours Worked Makes Up For Faster Inflation

By Michael Neal The Bureau of Labor Statistics (BLS) reported that, on a seasonally adjusted basis, headline consumer prices, grew over the month of June, but at a slower pace than in May. The monthly slowdown partly reflected a decline in energy prices, electricity and utility (piped) gas specifically, although food prices accelerated over the month. Excluding energy and food …

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Owner and Appraiser Opinions of Home Values Closest to Alignment since 2015

By QLAdmin • Quicken Loans’ National HPPI shows appraised values 0.25% lower than homeowners estimated in June • Home values dipped 0.63% nationally in June, but posted a 4.57% year-over-year increase, according to the Quicken Loans HVI DETROIT, July 10, 2018 – Appraisal values and what homeowners expected them to be are at their closest point since February 2015. The …

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Mortgage Rates Remain Elevated

By Michael Neal The Federal Housing Finance Agency reported that mortgage rates on purchases of newly built homes rose by seven basis points over the month of May 2018 to 4.51 percent, marking the seventh consecutive monthly increase. However, information compiled by Freddie Mac suggests that mortgage rates may have taken a breather in June. Despite the two basis points …

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New Home Sales Rise, But Only In The South

By Michael Neal Sales of new single-family homes rose by 6.7 percent in May to reach a seasonally adjusted annual rate of 689,000 according to a report released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. A downward revision to the sales pace in April, from 662,000 to 646,000, partly contributed to the increase …

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Consumer Prices Rise

By Michael Neal The Bureau of Labor Statistics (BLS) reported that consumer inflation rose by 0.2 percent in May, similar to its growth rate in April. Both food and energy prices decelerated over the month, but the slowdown in these items was offset by an acceleration in core CPI to 0.2 percent, from 0.1 percent in April. Over the year, …

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Quicken Loans Study Shows Slight Gap Between Owner Perception and Appraiser Opinion of Home Value

By QLAdmin • Quicken Loans’ National HPPI shows appraised values 0.34% lower than homeowners estimated in May • Home values rose 0.71% nationally in May, and posted a 6.56% year-over-year increase, according to the Quicken Loans HVI DETROIT, June 12, 2018 – Homeowners and appraisers are coming closer to being on the same page, and in an increasing number of …

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