Posted by kpanchuk on 10/19/12 at 10:20am

Positive housing data that shows existing-home sales up from year ago levels should be weighed against ongoing employment concerns and consumers’ economic fears, Fitch Ratings said in a new report Friday.

In other words, the nation may be in a modest housing recovery, but too many outliers remain to declare an end to the nation’s real estate troubles.

As for who may benefit from housing data that shows the supply of distressed assets dwindling and rents rising, Fitch points to homebuilders who may experience an uptick in new home construction.

The Commerce Department even reported this week that new home construction rose 15% in September to 872,000 units on a seasonally-adjusted basis. While existing-home sales fell month-over-month in September, they remain significantly higher than year ago levels.

“However, we note that new home construction numbers can be volatile as they fluctuate more frequently versus other indicators,” said Robert Curran, managing director of homebuilding for Fitch. “Although starts have been stronger for several months, we are hesitant to suggest that a V-shaped housing recovery is forming.”

Today, there is less competition from distressed home sales and rental prices are on the rise, Curran noted. These factors alone could send homebuyers scrambling for the creation of new homes.

With this in mind, Curran says single-family housing starts could rise a total of 19% in 2012, while existing home sales are expected to grow 8.5% for the year. He expects “further moderate improvement” next year.

kpanchuk@housingwire.com
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Fewer distressed homes could spur home construction

Posted by kpanchuk on 10/19/12 at 10:20am

Positive housing data that shows existing-home sales up from year ago levels should be weighed against ongoing employment concerns and consumers’ economic fears, Fitch Ratings said in a new report Friday.

In other words, the nation may be in a modest housing recovery, but too many outliers remain to declare an end to the nation’s real estate troubles.

As for who may benefit from housing data that shows the supply of distressed assets dwindling and rents rising, Fitch points to homebuilders who may experience an uptick in new home construction.

The Commerce Department even reported this week that new home construction rose 15% in September to 872,000 units on a seasonally-adjusted basis. While existing-home sales fell month-over-month in September, they remain significantly higher than year ago levels.

“However, we note that new home construction numbers can be volatile as they fluctuate more frequently versus other indicators,” said Robert Curran, managing director of homebuilding for Fitch. “Although starts have been stronger for several months, we are hesitant to suggest that a V-shaped housing recovery is forming.”

Today, there is less competition from distressed home sales and rental prices are on the rise, Curran noted. These factors alone could send homebuyers scrambling for the creation of new homes.

With this in mind, Curran says single-family housing starts could rise a total of 19% in 2012, while existing home sales are expected to grow 8.5% for the year. He expects “further moderate improvement” next year.

kpanchuk@housingwire.com
.

HousingWire Newsletters

Don’t miss out: get HW delivered via email

CurrentChg.
NASDAQ 3005.62 -67.24
S&P 500 1433.19 -24.15
Volitility Index 17.06 2.03
KBW Mort. Financial Index 26.05 -0.13
MSCI US REIT Index 898.85 -6.73

Jul 23Aug 6Aug 20Sep 3Sep 17Oct 1Oct 1529003000310032003300

On August 27, Governor Brown signed three significant legislative bills into law that may be of interest to REALTORS®. The full text of each law is available at www.leginfo.ca.gov.
Restricting New Degree Brokers: Under a C.A.R.-sponsored law that comes into effect on January 1, 2013, the education exemption to the experience requirement for applying for a new real estate broker’s license is more stringent. Under existing law, an applicant must, among other things, be actively engaged in the business of a real estate salesperson for at least two of the last five years. The applicant, however, may petition the DRE for an exemption from the experience requirement if he or she graduated from a four-year college or university with a specialization in real estate. Because “specialization in real estate” is broadly worded, the new law requires that, to satisfy this exemption from the experience requirement, a degree broker’s course of study must have included “a major or minor in real estate.” Both the existing and new law also allows an applicant to petition the DRE for another exemption from the experience requirement by demonstrating at least two years of general real estate experience. Source: AB 1718.

Jennifer Rodgers DRE# 01892602

The Duke and Duchess of Cambridge spent some time at the All England Lawn Tennis and Croquet Club earlier today to watch their fellow countryman, tennis pro Andy Murray defeat Richard Gasquet of France on day seven of the Wimbledon Championship.

The newlyweds looked relaxed as they sat court side during the match. The Duchess, aka Catherine Middleton, looked wonderful in white as her husband looked ever so royal in a navy blue suit.

Catherine was praised by the British media for showing a “relaxed” demeanor during her first appearance as a member of the royal family at a military event. (Words by Katelyn Mullen)

I’ll be watching World Cup Soccer and Kate and Wills Tour of Canada…Talk soon!

BritishJennifer@gmail.com

I just watched Maria Sharapova demolish Cibulkova and it seems that all 8 the the quarter finalists were Europeans…cool!! (Although I do love Serena and Venus Williams’ power game and mental toughness).  Although these players are Europeans, their love of the USA translate into most of them either living here or at least have 1 home on these shores.  Sharapova for example lives in Florida and now paired with New Jersey Nets Basketball Player, Shasha Vujacic the lives will predominately be lived out on the East Coast.

Boy!! would I love to sell them a home, near Kobe Bryant’s in Newport Beach perhaps…[like action=like]

BritishJennifer@gmail.com

… British Airways theme…hummm

Jennifer Rodgers DRE# 01892602

I am working with a Master! Someone who gives and gives tirelessly of his time, talent and knowledge. Jim Forde – cannot say enough!! His dedication to his art is beyond bounds.

I am unsure where all that energy comes from but it really shows in the quasi-custom sites he builds for his clients. I use the word client very loosely because once you have met Jim, you’ll understand that his approach is one of pure selfless philanthropy.

Over coffee, he share about his life, his family and his son who is following very closely in his father’s footsteps. I am so overwhelmed by his generosity that I am on a mission to find ‘clients’ for my dear friend.

Please continue to watch this space as I will continue to post about Jim Forde, Founder of JimsList.com and many other creative endeavors.

Jennifer Rodgers
J ASSOCIATES REAL ESTATE BROKERS
2081 Business Center Drive, Ste. 275
Irvine, CA 92612
Phone (949) 887-6720
Email BritishJennifer@gmail.com
Web Site: http://IBrokerOCRealty.com