State of the Nation's Housing 2012 - Executive Summary & Fact Sheet

Here are just some of the findings in the report:

  • The monthly mortgage payment for the typical home currently compares more favorably to rents than at any time since the early 1970s.
  • By the first quarter of 2012, existing home sales were 5.2 percent above year-earlier levels, with single-family sales up 6.3 percent.
  • Sales of newly constructed homes in the first quarter of 2012 stood 16.7 percent above year-earlier levels.
  • The inventory of existing homes for sale shrank by some 23 percent in 2011, reducing the supply in the first quarter of 2012 to its lowest level since 2006.
  • Single-family permitting, a leading indicator of starts, was also up 16.9 percent in the first quarter of 2012.

The complete report provides a current assessment of:

  • The state of the housing market and the foreclosure crisis
  • The economic and demographic trends driving housing demand
  • The state of mortgage finance
  • Ongoing housing affordability challenges

 

 

  -Sunil

  Fremont, Newark and Union City REALTORS