Housing Starts Fall in August

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for August 2017.

Building Permits

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000. This is 5.7 percent above the revised July rate of 1,230,000 and is 8.3 percent above the August 2016 rate of 1,200,000. Single-family authorizations in August were at a rate of 800,000; this is 1.5 percent below the revised July figure of 812,000. Authorizations of units in buildings with five units or more were at a rate of 464,000 in August.

Housing Starts

Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000. This is 0.8 percent below the revised July estimate of 1,190,000, but is 1.4 percent above the August 2016 rate of 1,164,000. Single-family housing starts in August were at a rate of 851,000; this is 1.6 percent above the revised July figure of 838,000. The August rate for units in buildings with five units or more was 323,000.

Housing Completions

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,075,000. This is 10.2 percent below the revised July estimate of 1,197,000, but is 3.4 percent above the August 2016 rate of 1,040,000. Single-family housing completions in August were at a rate of 724,000; this is 13.3 percent below the revised July rate of 835,000. The August rate for units in buildings with five units or more was 348,000.

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Pending Homes Sales Fall in July

Pending homes sales stumbled in July for the fourth time in five months as only the West saw an increase in contract activity, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.8 percent to 109.1 in July from a downwardly revised 110.0 in June. After last month’s decline, the index is now 1.3 percent below a year ago and has fallen on an annual basis in three of the past four months.

The Pending Homes Sales Index in the Northeast inched backward 0.3 percent to 97.7 in July, but is still 2.4 percent above a year ago. In the Midwest the index decreased 0.7 percent to 103.3 in July, and is now 2.8 percent lower than July 2016.

Pending home sales in the South declined 1.7 percent to an index of 123.1 in July and are now 0.2 percent below last July. The index in the West expanded 0.6 percent in July to 102.3, but is still 4.0 percent below a year ago.

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National Home Prices Continue to Rise

Data released for S&P CoreLogic Case-Shiller Indices, for June 2017 shows that home prices continued their rise across the country over the last 12 months.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 5.8% annual gain in June, up from 5.7% the previous month. The 10-City Composite posted a 4.9% annual increase, down from 5.0% the previous month. The 20-City Composite reported a 5.7% year-over-year gain, the same as the previous month.

The chart depicts the annual returns of the U.S. National, the 10-City Composite, and the 20-City Composite Home Price Indices. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, recorded a 5.8% annual gain in June 2017. The 10- City and 20-City Composites reported year-over-year increases of 4.9% and 5.7%, respectively.

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New Home Sales Down in July

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for July 2017.

New Home Sales
Sales of new single-family houses in July 2017 were at a seasonally adjusted annual rate of 571,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.4 percent below the revised June rate of 630,000 and is 8.9 percent below the July 2016 estimate of 627,000.

Sales Price
The median sales price of new houses sold in July 2017 was $313,700. The average sales price was $371,200. The seasonally-adjusted estimate of new houses for sale at the end of July was 276,000. This represents a supply of 5.8 months at the current sales rate.

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Housing Starts Fall July

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2017.

Building Permits

Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,223,000. This is 4.1 percent below the revised June rate of 1,275,000, but is 4.1 percent above the July 2016 rate of 1,175,000. Single-family authorizations in July were at a rate of 811,000; this is unchanged from the revised June figure of 811,000. Authorizations of units in buildings with five units or more were at a rate of 377,000 in July.

Housing Starts

Single-family housing starts in July were at a rate of 856,000; this is 0.5 percent below the revised June figure of 860,000. The July rate for units in buildings with five units or more was 287,000.

Housing Completions

Privately-owned housing completions in July were at a seasonally adjusted annual rate of 1,175,000. This is 6.2 percent below the revised June estimate of 1,252,000, but is 8.2 percent above the July 2016 rate of 1,086,000. Single-family housing completions in July were at a rate of 814,000; this is 1.6 percent below the revised June rate of 827,000. The July rate for units in buildings with five units or more was 354,000.

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2016 Hammock Beach Home Market Report (Jan thru Jun)

The first half of 2016 saw a continued increase in the prices for Hammock Beach Resort real estate in general and Hammock Beach homes in particular. The table below represents Hammock Beach home listings sold through June, the average days on market for these homes was 118 days, the average home Sq. Ft. for these sold Hammock Beach homes was 3,618 Sq. Ft. yielding an average price per Sq. Ft. of $185.

2016 Hammock Beach Home Market Report (January thru June)
Date Sold Days on Market Location Sq. Ft. BR/BA Price Per Sq. Ft. Sale Price
02/26/2016 147 26 Hammock Beach Cir S 5,513 5/4 $175 $975,000
01/11/2016 324 20 Hammock Beach Pkwy 3,468 3/4 $228 $790,000
05/10/2016 28 20 Sandpiper Lane 4,245 6/6 $159 $675,000
01/01/2016 144 17 Hammock Beach Pkwy 3,332 3/4 $255 $848,000
02/05/2016 57 9 Oak View Circle 3,137 4/3 $127 $398,000
04/29/2016 91 11 Las Palmas Way 3,864 3/3 $155 $600,000
05/02/2016 81 11 Kingfisher Lane 2,415 3/3 $217 $525,000
06/15/2016 73 5 Driftwood Lane 2,969 4/3 $162 $480,000

Interested in a market evaluation of your Hammock Beach property or in purchasing a property in the Hammock Beach Resort? We’d love to help you, feel free to call Take Action Properties at (386) 385-7325 to speak with one of our professional team members.

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