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Housing indicators continue to improve at the start of the year Housing data for North Carolina improved in January 2012 compared North Carolina Existing Home Sales to January 2011. Existing home sales January 2008 to Present were higher in January compared to l0000 9000 Housing Market Statistics Previous Month last year, although sales levels 8000 continue to be below 2008 levels. As 7000 02008 the chart to the right indicates, year- 12 Month Average 6000 02009 over - year comparisons are a more 5000 02010 important indicator of vitality for 4000 02011 housing numbers due to heavy 3000 02012 seasonal variations. Housing 2000 1000 Existing Homes - Units Sold authorizations, an indicator of future o (1,489) economic activity, were 20 percent r PQi �a� � `, �` higher in January 2012 than January P 'acJat e o`�o�a` ,a`c�et a� o e 2011. Foreclosure activity is down Source: N.C. Association of Realtors, Existing Home Sales Data this month on a year- over -year basis, falling 16 percent from the levels seen a year ago. Realtylrac; N.C. Assoc. of Realtors, Existing Homes Sales Data; U.S. Census, fable 2 -New Privately Owned Housing Units Authorized Index falls to lowest level of 2011 behind declines in building permits and manufacturing hours and earnings The NCState University Index of North Carolina Leading Economic Indicators (the "Index "), a forecast of the economy's direction four to six month ahead, rose in January to its highest level in a year. All components of the Index improved except for a modest increase in new unemployment claims. The strongest gain was in building permits, which have been volatile in recent months. The Index has now trended upward since last fall, suggesting that the State economy may be poised for acceleration in growth in early 2012. As at the national level, a key will be sustained improvement in the housing market in terms of better sales and a floor on prices. NCSI1 INDEX OF NORTH CAROLINA LEADING ECONOMIC INDICATORS 100 95 90 85 8* 75 70 Source. calculations by Dr. MichW Walden The index was developed by Dr. Michael Walden ( michael walden @ncsu.edu at NC State. Dr. Walden has a PhD in economics and over thirty years of experience studying the North Carolina economy. Special thanks to Dr. Walden for allowing the reproduction of the Index (February 2012, volume 3, number 2) in this publication. The complete online version of the index may be found here. Policy, Research & Strategic Planning; February 2012 Report 1 -4 Page 261 North Carolina Housing Market Statistics Previous Month Last Year -Same Month Dec -11 Jan -12 (1112 compared to 12/11) (1112 compared to 1/11) 12 Month Average (revised) (Preliminary) Change I %Change Change %Change (Beg.of2 /11- Endof1/12) Properties with Foreclosure Filings 2,736 2,541 (195) -7.1% (499) -16.4% 2,690 Existing Homes - Units Sold 6,489 5,000 (1,489) -22.9% 250 5.3% 6,699 Housing Units Auth. by Bldg. Permit 1 1,811 1,942 131 7.2% 328 20.3% 2,040 Realtylrac; N.C. Assoc. of Realtors, Existing Homes Sales Data; U.S. Census, fable 2 -New Privately Owned Housing Units Authorized Index falls to lowest level of 2011 behind declines in building permits and manufacturing hours and earnings The NCState University Index of North Carolina Leading Economic Indicators (the "Index "), a forecast of the economy's direction four to six month ahead, rose in January to its highest level in a year. All components of the Index improved except for a modest increase in new unemployment claims. The strongest gain was in building permits, which have been volatile in recent months. The Index has now trended upward since last fall, suggesting that the State economy may be poised for acceleration in growth in early 2012. As at the national level, a key will be sustained improvement in the housing market in terms of better sales and a floor on prices. NCSI1 INDEX OF NORTH CAROLINA LEADING ECONOMIC INDICATORS 100 95 90 85 8* 75 70 Source. calculations by Dr. MichW Walden The index was developed by Dr. Michael Walden ( michael walden @ncsu.edu at NC State. Dr. Walden has a PhD in economics and over thirty years of experience studying the North Carolina economy. Special thanks to Dr. Walden for allowing the reproduction of the Index (February 2012, volume 3, number 2) in this publication. The complete online version of the index may be found here. Policy, Research & Strategic Planning; February 2012 Report 1 -4 Page 261