Las Vegas Housing-Market Conditions
|
|
- Scott Caldwell
- 5 years ago
- Views:
Transcription
1 Las Vegas Housing-Market Conditions The Center for Business and Economic Research Not So Much of a Recovery Volume 53, 4th Sales of existing US homes registered another drop in December. The 17 percent decline represents the largest since And with incomes dropping and credit still contracting, this trend in the housing market is likely to continue in the near future. The so-called recovery of the housing market has yet to materialize. Indeed, even though existing home sales rose by 5.9 percent in, the median sale price dropped 12 percent from. What this unusual combination of events suggests is that most of the sales are occurring at the lower end of the market where the $8,000 federal tax credit is likely to provide the most relative gain. The situation is no less dramatic in Nevada, where roughly two out of every three home mortgages have negative equity. With the state unemployment numbers already at historically high levels and not likely to improve in the near term, there is a real possibility that these underwater mortgages will turn into massive foreclosures. The Nevada foreclosure rate, which is currently at 10 percent, is already the highest in the nation. The Southern Nevada housing-market conditions did not improve much in the fourth quarter of. Our estimate of the excess supply of housing units is at 12,080 down 2 percent from the previous quarter. See table below. The small decrease in excess supply was a combination of a lower excess supply of single-family units and a higher excess supply in apartment units. This suggests that households are moving away from traditional apartment units to take advantage of cheaper rental rates on vacant singlefamily homes. Estimated Excess Supply of Housing Units in the Greater Las Vegas Area by Housing Type: January 2010 Type of Housing Unit 1 Vacant Units Estimated Units in the Greater Las Vegas Area Single-family detached 10, , ,035 3,959 Condominium 1,958 82, ,873 (915) Townhouse , Multifamily 3 19, , ,667 8,886 Total 33, , ,347 12,080 1 Excludes mobile homes 2 Estimated excess supply = vacant units less estimated normal vacancy inventory 3 Includes apartments and multiplex units Assumed Percent Normal Vacancy Rate (%) Estimated Normal Vacant Inventory Estimated Excess Supply 2 Las Vegas Housing-Market Conditions, Volume 53, 4th Mary Riddel, Ph.D.
2 Housing-Market Overview Las Vegas Housing-Market Conditions Cont d The data show that housing prices continued to fall in the fourth quarter of. The median Las Vegas housing price of a single-family home was $141,000 in the fourth quarter. This corresponds to a 12 percent decrease from the third quarter of and a 28 percent decrease from the same quarter a year ago. The Las Vegas area S&P/Case-Shiller Home Price Index hit another record low in November of, continuing a trend of 39 consecutive months of decline. Housing prices have now declined 55.6 percent from the peak. More evidence of a struggling Southern Nevada housing market is found in permitting activity. Permitting activity dropped measurably during the fourth quarter. A total of 1,220 housing permits were issued by Clark County. This compares with 1,803 for the fourth quarter of, a decrease of 32 percent from the same quarter a year ago. The apartment rental and vacancy rates have been affected by higher-than-normal vacancy rates of single-family units. Vacant single-family units end up on the rental housing market, thereby placing a downward pressure on apartment rental rates. The average apartment rental rate was $787 in the fourth quarter, a 7 percent decrease from the third quarter. Meanwhile, the average apartment vacancy rate inched forward to 11 percent, up 2.9 percentage points from the third quarter. Constant Tra, PhD Mary Riddel, PhD Las Vegas Housing-Market Conditions, Volume 53, 4th Page 2
3 Housing-Market Overview Permits Issued in Clark County by Type of Unit 1 2,000 1,800 1,600 1,400 1,200 1, th Total: 1,803 1st Total: 1,197 2nd Total: 1,822 3rd Total: 1,753 4th Total: 1,220 Commercial Units Multifamily Units Single-Family Units , ,200 Residential-Building Permits All Types of Unit Permits Issued by Issuing Authority 1 1, th Total: 1,676 1st Total: 1,124 2nd Total: 1,755 3rd Total: 1,686 4th Total: 1,164 Uninc. Clark County 1, , City of Las Vegas City of North Las Vegas Henderson Boulder City Mesquite Las Vegas Housing-Market Conditions, Volume 53, 4th Page 3
4 Local Growth 80,000 Clark County Redeemed Drivers' Licenses 2 70,000 60,000 50,000 40,000 30,000 20,000 10, th st 2nd 3rd 4th 1st 2nd 3rd 4th Quarterly 17,114 16,397 16,101 17,461 14,715 13,889 13,458 14,654 13,047 Year-to-Date 74,677 16,397 32,498 49,959 64,674 13,889 27,347 42,001 55,048 Unemployment 6 Las Vegas Q4 8.1% Q1 10.2% Q2 11.3% Q3 13.5% Q4 12.7% U.S. Q4 6.9% Q1 8.1% Q2 9.3% Q3 9.6% Q4 10.1% Clark County Redeemed Drivers' Licenses: Major Categories 2 35% 30% 25% 20% 15% 10% 5% 0% 4th st 2nd 3rd 4th 1st 2nd 3rd 4th Percent from Outside the 50 States and DC 0.4% 0.2% 0.2% 0.1% 0.1% 0.1% 0.1% 0.2% 0.1% Percent from California 31.6% 31.8% 31.4% 31.1% 32.0% 32.8% 31.8% 31.5% 31.2% Percent Senior: Age 60 or Older 12.2% 10.5% 12.6% 11.4% 12.8% 10.9% 11.5% 11.2% 14.4% Las Vegas Housing-Market Conditions, Volume 53, 4th Page 4
5 Substitute Market: Apartments Apartment Rental and Vacancy Rates by Zip Code Area 2 ZIP CODE UNIT RATES Studio 1 Bed 2 Bed/1 Bath 2 Bed/2 Bath 3 Bed AVERAGE RATES Furnished Unfurnished Furnished Unfurnished Furnished Unfurnished Furnished Unfurnished Furnished Unfurnished Rent Vacancy * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 908 * * % * * * 780 * * * 951 * % * * * 695 * 837 * 846 * % * * * 634 * 725 * 779 * % * * * 602 * 604 * 716 * % * * * * * * * * * * * * * * * 663 * * * 785 * % * * * 838 * 962 * 983 * % * * * 787 * * * 926 * % * * * 758 * * * 941 * % * * * * * * * * * * * * * * * 715 * * * 901 * % * 633 * 684 * % * 565 * 600 * 648 * 749 * % * 557 * 642 * 688 * 771 * % * 430 * 546 * 651 * 684 * % * * * 595 * 634 * 801 * % * 488 * 591 * 637 * 666 * % * 554 * 635 * 695 * 789 * % * 485 * 582 * 638 * 733 * % * * * 615 * 655 * 728 * % * * * * * * * * * * * * * 532 * 556 * 600 * 696 * % * * * 759 * * * 917 * % * * * 739 * 737 * 910 * % * 663 * 828 * % * * * 641 * * * 794 * * % * 518 * 599 * 650 * 716 * % * * * 574 * 557 * 697 * % * * * 818 * * * 996 * % * * * 672 * * * 749 * % * * * 723 * * * 866 * % * * * * * * * * * * % * * * * * * * * * * * * * * * * * * * * * * * * * * * 898 * * * 1202 * * % * * * 899 * * * 1104 * % * * * * * * * * * * * * * * * 639 * * * 709 * % * * * 958 * * * 1163 * % * * * 857 * * * 981 * % * * * 671 * 633 * 817 * % * * * 780 * * * 915 * % * * * 869 * * * 976 * % * * * 850 * * * 1300 * % * * * 661 * * * 802 * % * * * 897 * * * 1158 * % * 634 * 740 * % * * * 813 * * * 933 * % METRO LV * * % * Number of observations insufficient for statistical purposes. Las Vegas Housing-Market Conditions, Volume 53, 4th Page 5
6 Substitute Market: Apartments Apartment Rental and Vacancy Rates by Zip Code Area Rent Q4 Data Suppressed Vacancy Q4 Data Suppressed Las Vegas Housing-Market Conditions, Volume 53, 4th Page 6
7 Single-Family Housing-Market Details 6,000 Distribution of House Size in Square Feet 3 5,000 4,892 4,867 4,958 4,880 4,923 4,000 3,000 2,000 2,449 2,442 2,442 2,408 1,878 1,880 1,891 1,891 2,270 1,788 1,521 1,526 1,557 1,556 1,470 1,000 1,031 1,019 1,032 1, th 1st 2nd 3rd 4th Note: The boxplots can be interpreted as Half the houses have a [square footage, price, price per square foot, or mortgage] between [value at bottom of box] and [value at top of box], with the median being [value in middle of box]. The other half of the houses is evenly split between values that are higher and values that are lower. To show this, lines extend out of the box upward and downward, with 98 percent of houses between [value at top of line] and [value at bottom of line]. The extremely high 1 percent and the extremely low 1 percent are not shown in order to avoid the detrimental effects of outliers, data entry errors, or other anomalies of the market. $1,600,000 Distribution of Sales Price 3 $1,400,000 $1,200,000 $1,000,000 $800,000 $746,200 $725,000 $724,983 $750,640 $600,000 $620,700 $400,000 $200,000 $0 $260,000 $245,000 $226,075 $220,000 $197,666 $197,000 $175,150 $165,000 $160,000 $150,000 $141,000 $133,875 $124,000 $120,500 $71,919 $103,000 $55,000 $54,917 $55,000 $30,000 4th 1st 2nd 3rd 4th Las Vegas Housing-Market Conditions, Volume 53, 4th Page 7
8 Single-Family Housing-Market Details $400 Distribution of Price per Square Foot 3 $350 $300 $250 $200 $229 $219 $205 $207 $184 $150 $100 $50 $0 $120 $110 $104 $103 $101 $95 $93 $88 $85 $84 $79 $77 $71 $70 $63 $52 $41 $39 $40 $24 4th 1st 2nd 3rd 4th Note: The boxplots can be interpreted as Half the houses have a [square footage, price, price per square foot, or mortgage] between [value at bottom of box] and [value at top of box], with the median being [value in middle of box]. The other half of the houses is evenly split between values that are higher and values that are lower. To show this, lines extend out of the box upward and downward, with 98 percent of houses between [value at top of line] and [value at bottom of line]. The extremely high 1 percent and the extremely low 1 percent are not shown in order to avoid the detrimental effects of outliers, data entry errors, or other anomalies of the market. $1,200,000 Distribution of Total Mortgage Value 3 $1,000,000 $800,000 $600,000 $400,000 $417,000 $417,000 $417,000 $417,000 $407,000 $200,000 $0 $210,000 $188,522 $186,435 $171,853 $152,192 $153,598 $130,591 $127,645 $118,750 $97,621 $89,900 $34,967 $68,732 $33,000 $0 $0 $0 $0 $0 $0 4th 1st 2nd 3rd 4th Las Vegas Housing-Market Conditions, Volume 53, 4th Page 8
9 Housing-Market Comparisons $600,000 Median Home Prices in Selected Western Counties 4 $500,000 $400,000 $300,000 $200,000 $100,000 $0 4th 1st 2nd 3rd 4th Clark County, NV $200,000 $165,000 $149,530 $145,000 $145,000 Maricopa County, AZ $181,000 $150,000 $143,000 $149,900 $154,000 Salt Lake County, UT $231,096 $230,570 $227,347 $218,869 $215,748 Los Angeles County, CA $350,000 $305,000 $315,000 $332,000 $343,000 Orange County, CA $450,000 $430,000 $471,000 $500,000 $505, % Quarterly Increase in Median Home Price % 5.0% 0.0% -5.0% -10.0% -15.0% -20.0% 4th 1st 2nd 3rd 4th Clark County, NV -9.1% -17.5% -9.4% -3.0% 0.0% Maricopa County, AZ -9.5% -17.1% -4.7% 4.8% 2.7% Salt Lake County, UT -1.5% -0.2% -1.4% -3.7% -1.4% Los Angeles County, CA -8.5% -12.9% 3.3% 5.4% 3.3% Orange County, CA -10.0% -4.4% 9.5% 6.2% 1.0% Las Vegas Housing-Market Conditions, Volume 53, 4th Page 9
10 Single-Family Housing-Market Details Number Available and Median List Price of Existing Single-Family Residential Units 5 22,500 $166,000 21,500 $162,000 20,500 $158,000 19,500 $154,000 18,500 $150,000 17,500 April May June July August September October November December $146,000 Available units (left axis) 22,112 21,181 20,613 20,423 20,999 20,801 20,998 20,847 19,707 Median list price (right axis) $164,900 $160,000 $159,000 $158,000 $155,000 $154,000 $150,000 $150,000 $149,900 Percent Existing Single-Family Residential Units Sold by Time on Market 5 100% 90% 80% 70% 60% 50% 18.7% 18.8% 17.9% 16.3% 15.3% 6.2% 9.9% 7.7% 7.3% 8.0% 11.7% 13.1% 11.3% 16.4% 16.4% 18.4% 18.8% 9.1% 10.4% 13.8% 13.9% 12.6% 10.9% 11.9% 4.5% 5.2% 5.3% 6.1% 7.3% 7.7% 8.4% 8.7% 15.0% 15.5% 16.7% 15.9% 40% 30% 20% 43.7% 43.4% 42.9% 48.9% 55.6% 59.3% 59.0% 58.7% 57.4% 10% 0% April May June July August September October November December 0-30 days days days days 120+ days Las Vegas Housing-Market Conditions, Volume 53, 4th Page 10
11 Single-Family Housing-Market Details Number of Single-Family Home Sales, 4 th Number of Sales Q Las Vegas Housing-Market Conditions, Volume 53, 4th Page 11
12 National Housing Market Conditions 7 Latest quarter Previous quarter Same quarter previous year % change from previous quarter % change from last year HOUSING PRODUCTION Permits Starts Under construction Completions Manufactured (mobile) home shipments HOUSING MARKETING New homes sold New homes for sale Month's supply of new homes Existing homes sold Existing homes for sale Month's supply of existing homes Median new home price Average new home price Constant house quality new home price Median existing home price Average existing home price Composite housing affordability index Fixed-rate housing affordability index Apartments completed Percentage of apartments rented in 3 months Median asking rent Manufactured (mobile) home placements Average manufactured (mobile) home sales price (in dollars) Housing market index Current sales activity Future sales expectations Prospective buyer traffic HOUSING FINANCE Conventional fixed-rate 30 year Conventional ARMs Conventional fixed-rate 15 year FHA applications received FHA total endorsements FHA purchase endorsements VA certificates PMI certificates Total past due, all loans Total past due, conventional subprime loans Total past due, conventional subprime ARMs days past due, all loans days past due, conventional subprime loans days past due, conventional subprime ARMs Foreclosures started, all loans Foreclosures started, conventional subprime loans Foreclosures started, conventional subprime ARMs HOUSING INVESTMENT GDP (in billions of dollars) Residential Fixed Investment (in billions of dollars) RFI percent of GDP HOUSING INVENTORY All housing units Occupied units Owner occupied Rental vacancy rate Las Vegas Housing-Market Conditions, Volume 53, 4th Page 12
13 Housing-Market Overview Figure 1 Case-Shiller Housing Price Index: January 1987 to November Housing Price Index Las Vegas, NV U.S. (10-city composite) Base month, January 2000 = Source: S&P/Case-Shiller Home Price Indices < as of 1/27/2010 Sources: 1 Local building permitting agencies. 2 CBER. 3 CBER calculations using First American Real Estate Solutions RealQuest data based on new and existing recorded home sales. 4 Metroscan, First American Real Estate Solutions data based on recorded home sales. These statistics may differ from CBER calculations based on the same data (reported on page 10) because Metroscan uses raw estimates. 5 Greater Las Vegas Association of Realtors data based on MLS records, which do not necessarily account for newly constructed homes sold by local builders. 6 Bureau of Labor Statistics and Nevada Department of Training and Rehabilitation. 7 U.S. Housing Market Conditions 3rd. Note: As of the 1st 2005 report, statistics in the Single-Family Housing-Market Details section have been revised to reflect only single-family housing. Copyright 2010 Conditions Las Vegas Metropolitan Housing-Market Conditions is intended for subscribers. Subscribers may reproduce the publication s items if they cite the publication name and date, and note the copyright of the Center for Business and Economic Research. Send address changes to: The Center for Business and Economic Research, UNLV, Box , 4505 S. Maryland Parkway, Las Vegas, NV, Phone: (702) Fax: (702) cber@unlv.nevada.edu. Web page: Las Vegas Housing-Market Conditions, Volume 53, 4th Page 13
Las Vegas Housing-Market Conditions
Las Vegas Housing-Market Conditions The Center for Business and Economic Research Las Vegas Housing Market Searching for Bottom Volume 56, 3rd The national housing market was beset with problems in third
More informationLas Vegas Housing-Market Conditions
Las Vegas Housing-Market Conditions The Center for Business and Economic Research Facing Difficulties Volume 44, 3rd Residential construction remains depressed. The supply of empty housing units (new homes,
More informationCBER-LIED Report on Housing-Market Conditions
CBER-LIED Report on Housing-Market Conditions CBER and Lied Institute Report Volume 59, 2nd, Housing Markets Remained Downbeat in Second United States: Growth of the U.S. economy picked up to a slow pace
More informationLas Vegas Housing-Market Conditions
Las Vegas Housing-Market Conditions The Center for Business and Economic Research Still, a Ways to Go Volume 45, 4th The oversupply of single-family units that was created in the speculative-housing euphoria
More informationLas Vegas Housing Market Conditions
Las Vegas Housing Market Conditions The Center for Business and Economic Research Las Vegas Housing Market Conditions, Volume 35, 2nd 2005 Volume 35, 2nd 2005 Please note: the numbers at the end of the
More informationLas Vegas Housing-Market Conditions
Las Vegas Housing-Market Conditions The Center for Business and Economic Research Volume 40, 3rd Please note: the numbers at the end of the figure and table titles correspond to sources of data, which
More informationLas Vegas Housing-Market Conditions
Las Vegas Housing-Market Conditions The Center for Business and Economic Research Space Available Volume 50, 1st Quarter, 2009 A windshield survey, the simplest one to take, shows that Las Vegas offers
More informationLas Vegas Housing Market Conditions Volume 34, 1st Quarter, 2005
Las Vegas Housing Market Conditions The Center for Business and Economic Research Volume 34, 1st Quarter, 25 The Las Vegas Housing Market Conditions has a new look, with several new statistical additions.
More informationLas Vegas Housing-Market Conditions
Las Vegas Housing-Market Conditions The Center for Business and Economic Research Grandfather s Depression or Father s Recession? Volume 48, 3rd Quarter, Las Vegas housing conditions, having peaked in
More informationManaging Your Money: "Housing and Public Policy the Bubble, Present, and Future
Managing Your Money: "Housing and Public Policy the Bubble, Present, and Future PLATO (Participatory Learning and Teaching Organization) J. Michael Collins UW Madison Center for Financial Security Overview
More informationNational Housing Market Summary
1st 2017 June 2017 HUD PD&R National Housing Market Summary The Housing Market Recovery Showed Progress in the First The housing market improved in the first quarter of 2017. Construction starts rose for
More informationHOUSING RECOVERY. 2017: Strongest Year for Housing Recovery. Charles C. Shinn, Jr., Ph.D. President, The Shinn Group / Builder Partnerships
HOUSING RECOVERY 2017: Strongest Year for Housing Recovery Presented by: Charles C. Shinn, Jr., Ph.D. President, The Shinn Group / Builder Partnerships January 28, 2018 U. S. Economy Recession ended 3rd
More informationCBER Indexes for Nevada and Southern Nevada
CBER Indexes for Nevada and Southern Nevada Published June 23, 2017 Stephen M. Miller, PhD, Director Nicolas Prada, Graduate Research Assistant Summary of CBER s Nevada Indexes Coincident Index (March)
More informationPolling Question 1: Should the first-time home buyer tax credit of $8,000 be extended past November 30, 2009?
Polling Question 1: Should the first-time home buyer tax credit of $8, be extended past November 3,? 1. No 2. Yes, keep to $8, 3. Yes, increase to $15, and expand to all Polling Question 2: Which mortgage
More informationCBER Economic Indexes for Nevada and Southern Nevada
CBER Economic Indexes for Nevada and Southern Nevada Published December 19, 2017 Stephen M. Miller, PhD, Director Nicolas Prada, M.A., Graduate Research Assistant Summary of CBER s Nevada Indexes Coincident
More informationU.S. Housing Markets: Looking Back, Looking Forward
U.S. Housing Markets: Looking Back, Looking Forward Dr. Raphael Bostic Assistant Secretary, Office of Policy Development and Research U.S. Department of Housing and Urban Development Special Thanks Ed
More informationWeakness in the U.S. Housing Market Likely to Persist in 2008
Weakness in the U.S. Housing Market Likely to Persist in 2008 Commentary by Sondra Albert, Chief Economist AFL-CIO Housing Investment Trust January 29, 2008 The national housing market entered 2008 mired
More informationThe state of the nation s Housing 2013
The state of the nation s Housing 2013 Fact Sheet PURPOSE The State of the Nation s Housing report has been released annually by Harvard University s Joint Center for Housing Studies since 1988. Now in
More informationThe Office of Economic Policy HOUSING DASHBOARD. March 16, 2016
The Office of Economic Policy HOUSING DASHBOARD March 16, 216 Recent housing market indicators suggest that housing activity continues to strengthen. Solid residential investment in 215Q4 contributed.3
More informationA Divided Real Estate Nation
Real Estate Reality Check Explanation of "What Happened" from the 26 Leadership Conference Boom ended August 2 Mortgage rates rose almost one point Affordability conditions deteriorated Speculative investors
More informationECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY
THE SOUTH FLORIDA ECONOMIC QUARTERLY Volume I, Issue 1 Introduction Economic Currents provides a comprehensive overview of the South Florida regional economy. The report combines current employment, economic
More informationThe Obama Administration s Efforts To Stabilize the Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize the Housing Market and Help American Homeowners February 2015 U.S. Department of Housing and Urban Development Office of Policy Development and Research
More informationThe Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners May 2011 U.S. Department of Housing and Urban Development Office of Policy Development Research U.S Department
More informationCBER Economic Indexes for Nevada and Southern Nevada
CBER Economic Indexes for Nevada and Southern Nevada Published February 9, 2018 Stephen M. Miller, PhD, Director Marshall Krakauer, Graduate Research Assistant Summary of CBER s Nevada Indexes Coincident
More informationThe Housing Market and the Macroeconomy. Karl E. Case. University of North Carolina February 18, 2010
The Housing Market and the Macroeconomy Karl E. Case University of North Carolina February 18, 2010 Briefly describe some of the connections between the housing market and the Macroeconomy Discuss how
More informationThe Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners November 2012 U.S. Department U.S Department of Housing of Housing and Urban and Urban Development Development
More informationHousing Recovery is Underway, But Not for Everyone
Housing Recovery is Underway, But Not for Everyone Eric Belsky August 2013 Dallas, TX Housing Markets Have Corrected In Significant Ways Both price and quantity reductions have occurred Even after price
More informationIdentifying Issues in the Subprime Mortgage Market: The Bay Area
Identifying Issues in the Subprime Mortgage Market: The Bay Area Presentation prepared by Carolina Reid, Ph.D. Community Development Department Federal Reserve Bank of San Francisco March 7, 2008 Analysis
More information2016 CALIFORNIA ECONOMIC & MARKET FORECAST. November 18, 2015 Newport Beach AOR Leslie Appleton-Young, Vice President & Chief Economist
2016 CALIFORNIA ECONOMIC & MARKET FORECAST November 18, 2015 Newport Beach AOR Leslie Appleton-Young, Vice President & Chief Economist New Legal Hotline App App Available NOW! The Future 2016 FORECAST
More informationCost of Living Comparisons: Valdosta, Georgia, and the Nation 2011 Annual Review February 15, 2012
Overview The fourth quarter of 2011 survey comparing relative costs of living for middle management households among U.S. metropolitan areas and cities shows that it costs 6.1 percent less to live in Georgia
More informationThe Obama Administration s Efforts To Stabilize the Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize the Housing Market and Help American Homeowners August 2015 U.S. Department of Housing and Urban Development Office of Policy Development and Research U.S
More informationThe Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners April 2012 U.S. Department of Housing and Urban Development Office of Policy Development Research U.S Department
More informationREBUILD & RECOVER. VEGAS HOUSING REPORT Suncoast Hotel & Casino April 22, Prepared by:
REBUILD & RECOVER VEGAS HOUSING REPORT Suncoast Hotel & Casino April 22, 2014 Prepared by: REBUILD The Great Recovery continues moderately. Nevada Recovery Comparison: Last 11 Recessions % Job Losses Compared
More informationThe State of the Nation s Housing Report 2017
The State of the Nation s Housing Report 217 Tennessee Governor s Housing Conference Nashville, Tennessee September 2, 217 The Report s Major Themes National home prices have regained their previous peak,
More informationThe Changing Nature of Las Vegas Tourism
A monthly report produced for Commerce Real Estate Solutions by Stephen P. A. Brown, PhD, Center for Business & Economic Research University of Nevada, Las Vegas Issue 16 April 2012 The Changing Nature
More informationFY 2015 SECOND QUARTER REVENUE UPDATE, CURRENT ECONOMIC OUTLOOK & FY GENERAL REVENUE FORECAST
FY 2015 SECOND QUARTER REVENUE UPDATE, CURRENT ECONOMIC OUTLOOK & FY 2016-2020 GENERAL REVENUE FORECAST Michelle L. Attreed Director of Finance February 17, 2015 Proposed FY2016-2020 General Revenue Forecast-
More informationNevada Economy More Firmly in Recovery than Previously Realized
A monthly report produced for Commerce Real Estate Solutions by Stephen P. A. Brown, PhD, Center for Business & Economic Research University of Nevada, Las Vegas Issue 14 February 2012 Nevada Economy More
More information(Table A-2). Again, this is the first time in recorded history. Plumbing the Depths. Promising Signs. The State of the Nation s Housing 2010
2 Housing Markets Housing markets showed some signs of recovery in 29. The question now is whether the large overhang of vacant units combined with high unemployment and record foreclosures will allow
More informationHousing and Economic Outlook
Housing and Economic Outlook JANUARY 22, 2013 // 2:30 4:00PM Presenters: David Crowe // NAHB, Washington DC Frank Nothaft // Freddie Mac, McLean, VA David Berson // Nationwide Insurance, Columbus, OH Housing
More informationFannie Mae 2012 Second-Quarter Credit Supplement. August 8, 2012
Fannie Mae 2012 Second-Quarter Credit Supplement August 8, 2012 This presentation includes information about Fannie Mae, including information contained in Fannie Mae s Quarterly Report on Form 10-Q for
More informationTRENDS IN DELINQUENCIES AND FORECLOSURES IN NEVADA
TRENDS IN DELINQUENCIES AND FORECLOSURES IN NEVADA January 2011 Community Development Research Federal Reserve Bank of San Francisco National Trends Even though NBER officially announced the recession
More informationCBER Economic Indexes for Nevada and Southern Nevada
CBER Economic Indexes for Nevada and Southern Nevada Published November 14, 2018 Stephen M. Miller, PhD, Director Hasara Rathnasekara, Graduate Research Assistant Summary of CBER s Nevada Indexes Coincident
More informationThe Real Estate Report Volume 41, Number 2 Fall 2017 GENERAL SUMMARY
OVERVIEW GENERAL SUMMARY What are the demographic patterns of the market? What does the inventory look like? What are the characteristics of the labor market and the income patterns? In the long history
More informationAEI Center on Housing Markets and Finance Announces Ten Best and Worst Metro Areas to Be a First Time Homebuyer
AEI Center on Housing Markets and Finance Announces Ten Best and Worst Metro Areas to Be a First Time Homebuyer Edward Pinto and Tobias Peter November 28th, 2018 New AEI study ranks 50 metros by home price
More informationFannie Mae 2009 First Quarter Credit Supplement. May 8, 2009
Fannie Mae 2009 First Quarter Credit Supplement May 8, 2009 1 These materials present tables and other information about Fannie Mae, including information contained in Fannie Mae s Quarterly Report on
More informationIdentifying Issues in the Subprime Mortgage Market: North San Joaquin Valley
Identifying Issues in the Subprime Mortgage Market: North San Joaquin Valley Presentation prepared by Carolina Reid, Ph.D. Community Development Department Federal Reserve Bank of San Francisco March 5,
More informationRising Risks for the Housing Outlook
Rising Risks for the Housing Outlook Master Builders Association of Pierce County October 17, 2018 Robert Dietz, Ph.D. NAHB Chief Economist Population Growth Pierce County population growing faster than
More informationIs the bounce for real? Christopher Thornberg Principal, Beacon Economics
Is the bounce for real? Christopher Thornberg Principal, Beacon Economics Will the real economy stand up? Where are we now? The good news: The recession is over The bad news: we haven t completely fixed
More informationThe Recovery Downshifts But Not In Reverse
Chapman University A. Gary Anderson Center for Economic Research FOR RELEASE: ONLINE: June 16, 211; 1: a.m. PRINT: June 17, 211 CONTACT: James Doti, President and Donald Bren Distinguished Chair of Business
More informationCBER Indexes for Nevada and Southern Nevada
CBER Indexes for Nevada and Southern Nevada Published March 24, 2016 Stephen M. Miller, PhD, Director Jinju Lee, Economic Analyst Summary of CBER s Nevada Indexes Coincident Index Leading Index Mo. to
More informationIdentifying Issues in the Subprime Mortgage Market: Arizona
Identifying Issues in the Subprime Mortgage Market: Arizona Presentation prepared by Carolina Reid, Ph.D. Community Development Department Federal Reserve Bank of San Francisco March 7, 2008 Analysis of
More informationFannie Mae 2009 Second Quarter Credit Supplement. August 6, 2009
Fannie Mae 2009 Second Quarter Credit Supplement August 6, 2009 1 These materials present tables and other information about Fannie Mae, including information contained in Fannie Mae s Quarterly Report
More informationTestimony of Dean Baker. Before the Subcommittee on Housing and Community Opportunity of the House Financial Services Committee
Testimony of Dean Baker Before the Subcommittee on Housing and Community Opportunity of the House Financial Services Committee Hearing on the Recently Announced Revisions to the Home Affordable Modification
More informationTRENDS IN DELINQUENCIES AND FORECLOSURES IN
TRENDS IN DELINQUENCIES AND FORECLOSURES IN SOUTHERN CALIFORNIA August 2009 Melody Nava, Community Development Department, Federal Reserve Bank of San Francisco Outline of Presentation National Trends
More informationTRENDS IN DELINQUENCIES AND FORECLOSURES IN
TRENDS IN DELINQUENCIES AND FORECLOSURES IN CALIFORNIA August 2009 Community Development Department, Federal Reserve Bank of San Francisco Outline of Presentation National Trends Recession and turmoil
More information2015 Mid-Year Economic Update
BROOMFIELD Economic Development 2015 Mid-Year Economic Update Provided by: Broomfield Economic Development One Descombes Drive Broomfield, CO 80020 303-464-5579 www.investbroomfield.com Prepared by: Development
More informationTwinRock Partners. Single Family Housing Research Western Region. Newport Beach, California
TwinRock Partners Single Family Housing Research Western Region Newport Beach, California 1 Presentation Outline I. Market Data 3 A. Inland Empire 4 B. Sacramento 25 C. Stockton 33 D. Modesto 40 E. Phoenix
More informationMay 1965 CONSTRUCTION AND MORTGAGE MARKETS. Digitized for FRASER Federal Reserve Bank of St. Louis
May 1965 CONSTRUCTION AND MORTGAGE MARKETS May 1965 outlays for new construction in April continued at the high established in the first quarter. Total outlays for the first 4 months of the year were moderately
More informationINLAND EMPIRE REGIONAL INTELLIGENCE REPORT. School of Business. Fourth Quarter 2018 CENTER FOR ECONOMIC FORECASTING & DE VELOPMENT
INLAND EMPIRE REGIONAL INTELLIGENCE REPORT Fourth Quarter 2018 School of Business CENTER FOR ECONOMIC FORECASTING & DE VELOPMENT INTRODUCTION 2018 was another strong year for the Inland Empire. The region
More informationNAR Research on the Impact of Jumbo Mortgage Credit Crunch
NAR Research on the Impact of Jumbo Mortgage Credit Crunch Introduction Mortgage rates are at 50 year lows, thereby raising housing affordability conditions to all-time high levels. However, the historically
More informationThe 2017 Economic Outlook Summit
The 2017 Economic Outlook Summit Southeast Fairfax Development Corporation Mount Vernon-Lee Chamber of Commerce Frank Nothaft, CoreLogic SVP & Chief Economist April 6, 2017 2017 Market: Less Affordability
More informationFannie Mae 2010 First Quarter Credit Supplement. May 10, 2010
Fannie Mae 2010 First Quarter Credit Supplement May 10, 2010 1 These materials present tables and other information about Fannie Mae, including information contained in Fannie Mae s Quarterly Report on
More informationHousing & Mortgage Outlook. Frank Nothaft Chief Economist May 22, 2018
Housing & Mortgage Outlook Frank Nothaft Chief Economist May 22, 2018 Economic & Housing Outlook Effect of higher mortgage rates Inventory-for-sale remains low Less refinance, more purchase & home-improvement
More informationTennessee Housing Market Brief
3rd quarter Housing ket Brief Business and Economic Research Center David A. Penn, Director Jennings A. Jones College of Business Middle State University his is the first in a series of quarterly reports
More informationLawrence Yun, Ph.D. Chief Economist NATIONAL ASSOCIATION OF REALTORS. Presentation at NAR Leadership Summit Chicago, IL
Lawrence Yun, Ph.D. Chief Economist NATIONAL ASSOCIATION OF REALTORS Presentation at NAR Leadership Summit Chicago, IL August 21, 2008 60 50 Home Sales Starting to Recover from Improving Affordability
More informationW. Galleria Drive, Suite 220 P / Henderson, NV 89014
MORTGAGE, LLC www.consolidatedmortgage.com P 702.739.9090 / 877.739.9094 Henderson, NV 89014 1291 W. Galleria Drive, Suite 220 FUTURE MARKET OF LAS VEGAS E X P L O S I V E G R O W T H Outside of the residential
More informationFannie Mae 2014 Second Quarter Credit Supplement. August 7, 2014
Fannie Mae Second Quarter Credit Supplement August 7, This presentation includes information about Fannie Mae, including information contained in Fannie Mae s Quarterly Report on Form 10-Q for the quarter
More informationEconomic Activity Report. October 2016
Economic Activity Report October 2016 The current economic activity report for Commerce City economy reported mixed trends across many indicators. The employment situation improved, with overall employment
More informationThe Index Leading Indicators
Our Sponsors: Housing Sales Up, Wide Growth Professor Erick Eschker, Director Jonathan Ashbach, Assistant Editor Catherine Carter, Assistant Analyst While no especially dramatic records were broken in
More informationFebruary Home Sales Rebound, Strong National Figures. Composite & Sectors. Our Sponsors:
Our Sponsors: Home Sales Rebound, Strong National Figures Professor Erick Eschker, Director Schuyler Kirsch, Assistant Editor Mike Kowto Jr., Assistant Analyst The composite index expanded by 3.0 to 99.0.
More informationLEARN Conference Federal Reserve Bank of Atlanta New Orleans Branch September 18-19, 2008
LEARN Conference Federal Reserve Bank of Atlanta New Orleans Branch September 18-19, 2008 The State of the Alabama Residential Real Estate Market Sweet Home Alabama where the skies are so Alabama Real
More informationA Closer Look at U.S. Economic Weakness
October 24, 2011 A Closer Look at U.S. Economic Weakness Stephen P. A. Brown and Hui Liu The most recent recession was the deepest of any since World War II. During the 2007 09 recession, U.S. real gross
More informationPRESS RELEASE. Home Prices Continue Climbing in June 2013 According to the S&P/Case-Shiller Home Price Indices
Home Prices Continue Climbing in June 2013 According to the S&P/Case-Shiller Home Price Indices New York, August 27, 2013 Data through June 2013, released today by for its S&P/Case-Shiller 1 Home Price
More informationEconomic and Housing Outlook
Economic and Housing Outlook Volusia Building Industry Association July 18, 218 Robert Dietz, Ph.D. NAHB Chief Economist Housing Market Growing; Single-Family Lags Tax reform changes Macroeconomics post-tax
More information2007 Outlook for Southern California Housing
Outlook for Southern Housing Presentation at the RERCSC Quarterly Luncheon Meeting, Cal Poly University, Pomona, March, U.S. Expansion Continues Outlook for Southern Housing Real Estate Research Council
More information4 th Quarter Revenue and Expenditures
4 th Quarter Revenue and Expenditures REPORTFY 2017 Published 8/15/2017 Revenues Section 2.09 of the Principles of Sound Financial Management requires quarterly updates to the Board of County Supervisors
More informationFannie Mae 2011 Third-Quarter Credit Supplement. November 8, 2011
Fannie Mae 2011 Third-Quarter Credit Supplement November 8, 2011 This presentation includes information about Fannie Mae, including information contained in Fannie Mae s Quarterly Report on Form 10-Q for
More informationHAND/CNHED Joint Meeting. Washington Area Economy and Housing Market Trends and Outlook
1/26/12 HAND/CNHED Joint Meeting Washington Area Economy and Housing ket Trends and Outlook Lisa A. Sturtevant, PhD Center for Regional Analysis School of Public Policy George Mason University October
More informationMarch 2008 Third District Housing Market Conditions Nathan Brownback
March 28 Third District Housing Market Conditions Nathan Brownback By many measures, the economy of the Third District closely tracks the national economy. Thus far in the current housing cycle, this appears
More informationFannie Mae 2008 Q3 10-Q Credit Supplement. November 10, 2008
Fannie Mae 2008 Q3 10-Q Credit Supplement November 10, 2008 1 These materials present tables and other information about Fannie Mae, including information contained in Fannie Mae s Quarterly Report on
More informationMetropolitan Area Statistics (4Q 2012)
Metropolitan Area Statistics (4Q 2012) Apartment Completions 4Q 2011 4Q 2012 % Chg. Atlanta 490 288-41% Boston 678 995 47% Chicago 506 711 41% Cleveland 4 13 225% Columbus 255 322 26% Dallas-Ft. Worth
More informationNationally, Home Prices Went Up in the Second Quarter of 2011 According to the S&P/Case-Shiller Home Price Indices
Nationally, Home Prices Went Up in the Second Quarter of 2011 According to the S&P/Case-Shiller Home Price Indices New York, August 30, 2011 Data through June 2011, released today by S&P Indices for its
More informationHOUSING MARKET OUTLOOK Calgary CMA
H o u s i n g M a r k e t I n f o r m a t i o n HOUSING MARKET OUTLOOK Calgary CMA C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: Spring 2013 Table of Contents NEW
More informationHOUSING AND LABOR MARKET TRENDS: UTAH
HOUSING AND LABOR MARKET TRENDS: UTAH May 2011 Community Development Research Federal Reserve Bank of San Francisco National Trends Source: Bureau of Labor Statistics, November 2010 Unemployment dips below
More informationAll Three Home Price Composites End 2011 at New Lows According to the S&P/Case-Shiller Home Price Indices
PRESS RELEASE All Three Home Price Composites End 2011 at New Lows According to the S&P/Case-Shiller Home Price Indices New York, February 28, 2012 Data through December 2011, released today by S&P Indices
More informationWAFD October 21, 2008
Presented to Western Association of Fastener Distributors A. GARY ANDERSON CENTER FOR ECONOMIC RESEARCH CHAPMAN UNIVERSITY Federal Reserve Monetary Policy Objectives Economic Growth Low Unemployment Rate/High
More informationPartnerships with Federal Home Loan Banks: Funding for Home Builders, Developers, Homebuyers, and Renters
Partnerships with Federal Home Loan Banks: Funding for Home Builders, Developers, Homebuyers, and Renters Meet Your Speakers Robert Dozier FHLBank Atlanta Jennifer Ernst FHLB Des Moines Arthur Fleming
More informationDurango. Medical Building ±15,163 SF $3,639,000 UNIQUE OPPORTUNITY SINGLE-STORY MEDICAL BUILDING FOR SALE VIRTUAL TOUR
FOR SALE 3012 S. Drive, Las Vegas, NV 89117 DO NOT DISTURB BUSINESS OPERATOR. CALL FOR DETAILS OR TO SCHEDULE A TOUR WITH BROKER. UNIQUE OPPORTUNITY SINGLE-STORY MEDICAL BUILDING ±15,163 SF $3,639,000
More informationMaking Home Affordable Program Servicer Performance Report Through December 2009
EXHIBIT 6 Overview of Administration Housing Stability Initiatives Initiatives to Support Access to Affordable Mortgage Credit and Housing Initiatives to Prevent Avoidable Foreclosures and Stabilize Neighborhoods
More informationSupply-Side Factors and Housing Affordability
Supply-Side Factors and Housing Affordability CoreLogic-NAHB Residential Construction Roundtable December 12, 2018 Robert Dietz, Ph.D. NAHB Chief Economist Housing Affordability NAHB/Wells Fargo HOI CoreLogic
More informationEconomic Slowdown Ahead
Economic Slowdown Ahead NAHB Meeting of the Members February 20, 2019 Robert Dietz, Ph.D. NAHB Chief Economist GDP Growth Economic slowdown approaching 10% 8% 6% Q/Q Percent Change, SAAR Annual Growth
More information7.6% The YOY percent increase in Nevada taxable sales in August--up $259 million from August 2011.
Jan-03 Jun-03 Nov-03 Apr-04 Sep-04 Feb-05 Jul-05 Dec-05 May-06 Oct-06 Mar-07 Aug-07 Jan-08 Jun-08 Nov-08 Apr-09 Sep-09 Feb-10 Dec-10 May-11 Oct-11 Aug-12 Index Municipal Investment Management In This Issue
More informationKey Findings from Recent Joint Center Research Chris Herbert Real Estate Trends in Central Ohio January 26, 2017
Key Findings from Recent Joint Center Research Chris Herbert Real Estate Trends in Central Ohio January 26, 2017 Outlook for Household Growth Through 2035 Millennials and Baby Boomers Will Drive Coming
More informationWestern Economic. evelopments IN THIS ISSUE. District economies gain momentum in early Job growth intensifies and spreads
IN THIS ISSUE F E D E R A L R E S E R V E B A N K O F S A N F R A N C I S C O Western Economic Developments District economies gain momentum in early Figure : Nonagricultural payroll growth by state (annualized
More information2015 End of Year Economic Update
BROOMFIELD Economic Development 2015 End of Year Economic Update RELEASED: FEBRUARY 2016 Provided by: Broomfield Economic Development One Descombes Drive Broomfield, CO 80020 303-464-5579 www.investbroomfield.com
More informationReal Estate Market. Lawrence Yun, Ph.D. Presentation to New England REALTORS Conference. February 2, 2010 NATIONAL ASSOCIATION OF REALTORS
Real Estate Market Trends & Outlook Lawrence Yun, Ph.D. Chief Economist NATIONAL ASSOCIATION OF REALTORS Presentation to New England REALTORS Conference February 2, 2010 Housing Stimulus Impact Tax Credit
More informationECONOMIC CURRENTS. Vol. 2, Issue 3 THE SOUTH FLORIDA ECONOMIC QUARTERLY. Introduction. In this Issue:
ECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY Vol. 2, Issue 3 Introduction Economic Currents provides an overview of the South Florida regional economy. The report combines current employment,
More informationTRENDS IN DELINQUENCIES AND FORECLOSURES IN SOUTHERN CALIFORNIA
TRENDS IN DELINQUENCIES AND FORECLOSURES IN SOUTHERN CALIFORNIA April 2009 Melody Nava, Community Development Department, Federal Reserve Bank of San Francisco Outline of Presentation National Trends Rising
More informationS&P/Case Shiller index
S&P/Case Shiller index Home price index Index Jan. 2000=100, 3 month ending 240 220 200 180 160 10-metro composite 140 20-metro composite 120 100 80 2000 2001 2002 2003 2004 Sources: Standard & Poor's
More informationRecap of 2017: The Best Year in a Decade
NOVEMBER 217 Recap of 217: The Best Year in a Decade Macroeconomic conditions remained favorable for housing and mortgage markets in 217. Despite challenges, the housing markets remain on track for their
More information