As of June 2016, Unemployment rate in the US has dropped to 4.9%
US economy added 161,000 Jobs in October.
Hourly wages have climbed 2.8% over the past year.
Hourly pay notches most rapid 12-month gain since mid-2009
Real Estate in Numbers for the Central Florida Market
Home prices moving in a positive trend
- According to the CoreLogic U.S. Home Price Insights Report, home prices, including distressed sales, are up 1.3 percent month-over-month, and up 5.9 percent year-over-year.
- CoreLogic predicts that home prices, including distressed sales, will rise 0.8 percent month-over-month and 5.3 percent year-over-year.
- Twenty-two states experienced new home price highs, while only three states (Connecticut, New Jersey and Pennsylvania) experienced negative home appreciations.
Foreclosures: Distressed home sales hit nine-year low in 3Q
ATTOM Data Solutions’ latest study for the third quarter finds that distressed sales – bank-owned (REO) sales, sales of homes actively in foreclosure and short sales – accounted for 12.9 percent of all U.S. single family home and condo sales in Q3 2016, a drop from 15 percent in the previous quarter and 15.9 percent year-to-year.
New Construction Single Family Homes
New construction starts for single-family homes rose 23 percent since last year for a total of 791,000 units in Q1 — their highest level since the final quarter of 2007.
Demand and affordability:
New and existing home sales both rose in the last quarter. New single-family home purchases grew 2 percent from a year prior and 5 percent from Q4. Existing home sales increased 5 percent year-over-year, and 2 percent from the previous quarter.
Home equity rates in US: