AG 2012 10 15 - Laserfiche WebLink

Home Browse Search

Rea ItyTrac; N.C. Assoc. of Rea Ito rs, Exist ing Homes Sales Data; U.S. Census, Table 2 -New Private ly Owned Housing Units Authorized Higher demand for apartments is causing rents to rise at faster rates. Nationwide, the apartment portion of the real estate market appeared to be relatively healthy in the second quarter of 2012. The Multifamily Production Index (MPI), which measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100, rose from 51 in the first quarter to 54. Home values in the state depreciated 12.0 percent since the first quarter of 2009, according to the Federal Reserve Bank of Richmond. NCSU Index of North Carolina Leading Economic Indicators remains unchanged. The NCSU INDEX OF NORTH CAROLINA LEADING ECONOMIC INDICATORS (the "Index "), a forecast of the economy's direction four to six months ahead, was virtually unchanged in July, falling a mere 0.1 %. Improvements from the national index and from state building permits were counterbalanced by an increase in initial jobless claims and drops in both manufacturing hours and earnings. The state economy is essentially "treading water," with no clear direction up or down. The Manufacturing sector has certainly slowed, but residential housing is showing some promising signs. Investors may be waiting for clearer signs from the upcoming election results. NCSU INDEX OF NORTH CAROLINA LEADING ECONOMIC INDICATORS 100 - 95 90 North Carolina Housing Market Statistics Previous Month Last Year -Same Month Jun -12 Jul -12 (7/12 compared to 6/12) (7/12 compa red to 7/11) 12 Month Average 75 (revised) (Preliminary) Change %Change Chang %Change (Beg. of 8 /11 End of 7/12) Properties with Foreclosure Filings 3,469 2,954 (515) -14.8% 387 15.1% 2,938 Existing Homes - Units Sold 9,417 8,767 (650) -6.9% 1,280 17.1% 7,172 l Housing Units Auth. by Bldg. Permit 1 2,6881 2,607 (81) -3.0% 667 34.4%1 2,245 Rea ItyTrac; N.C. Assoc. of Rea Ito rs, Exist ing Homes Sales Data; U.S. Census, Table 2 -New Private ly Owned Housing Units Authorized Higher demand for apartments is causing rents to rise at faster rates. Nationwide, the apartment portion of the real estate market appeared to be relatively healthy in the second quarter of 2012. The Multifamily Production Index (MPI), which measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100, rose from 51 in the first quarter to 54. Home values in the state depreciated 12.0 percent since the first quarter of 2009, according to the Federal Reserve Bank of Richmond. NCSU Index of North Carolina Leading Economic Indicators remains unchanged. The NCSU INDEX OF NORTH CAROLINA LEADING ECONOMIC INDICATORS (the "Index "), a forecast of the economy's direction four to six months ahead, was virtually unchanged in July, falling a mere 0.1 %. Improvements from the national index and from state building permits were counterbalanced by an increase in initial jobless claims and drops in both manufacturing hours and earnings. The state economy is essentially "treading water," with no clear direction up or down. The Manufacturing sector has certainly slowed, but residential housing is showing some promising signs. Investors may be waiting for clearer signs from the upcoming election results. The Index was developed by Dr. Michael Walden ( michaelwalden @ncsu.edu at NC State University. Dr. Walden has a PhD in economics and more than 30 years of experience studying North Carolina's economy. Special thanks to Dr. Walden for allowing the reproduction of the Index (August 2012, volume 3, number 8) in this publication. The complete online version of the index may be found here. Labor & Economic Analysis Division; August M(14r j3ptnber 1 1 -1 Page 151 NCSU INDEX OF NORTH CAROLINA LEADING ECONOMIC INDICATORS 100 - 95 90 85 80 75 70 , S7 >^ " 7 7^ ti9 7 S� T d4 7 ?^ ti4 7 T d9 7 17 T 2 2 C7 n r N O cc O M O "'� '~ C7 O O O O O e�-1 .~-I C7 O O O O O O O 9 O O O O Q- O O O N O O C] N N O N CA N O N C N O YY N N © (.,! N CA O N N h4 C7 N CJ N N N N Source. calculations by Dr. Michael Walden The Index was developed by Dr. Michael Walden ( michaelwalden @ncsu.edu at NC State University. Dr. Walden has a PhD in economics and more than 30 years of experience studying North Carolina's economy. Special thanks to Dr. Walden for allowing the reproduction of the Index (August 2012, volume 3, number 8) in this publication. The complete online version of the index may be found here. Labor & Economic Analysis Division; August M(14r j3ptnber 1 1 -1 Page 151