Monday, December 31, 2012
Happy New Year from MetroIntelligence
Friday, December 21, 2012
BuilderBytes' MetroIntelligence Economic Update for 12/21/12

Please click here to see the edition of BuilderBytes for 12/21/12 on the Web.
- Housing starts in November dip by 3.0% from October but still 21.6% above November 2011
- Existing home sales in November up by 14.5% from a year ago; prices have risen by 1.1%
- FHFA House Price Index rose by 5.6% for 12-month period ending in October 2012; now 15.7% below April 2007 peak
- GDP in 3Q2012 rises from 2.7% to 3.1% in third and final estimate
- Leading Economic Index declined slightly in November following two months of gains
Please note that due to the Christmas holiday the next edition of this update will be next Friday, December 28th.
Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.
Wednesday, December 19, 2012
BuilderBytes' MetroIntelligence Economic Update for 12/19/12

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
- Housing Market Index rose to 47 in December, the highest level since April 2006
- Empire State Manufacturing Survey shows declining conditions in December
Monday, December 17, 2012
BuilderBytes' MetroIntelligence Economic Update for 12/17/12

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
- Consumer Price Index fell by 0.3% in November as gas prices plummet and is up by 1.9% over last 12 months
- Industrial production rebounded by 1.1% in November as recovery from Hurricane Sandy continues
- Mortgage applications rise by 6.2% in latest survey, due mostly to refinancings
Sunday, December 16, 2012
Demographics as Destiny: How the Changing Country Will Impact the Housing Market
When Bob Dylan penned those words back in 1963, the country was embarking on a generational political and social upheaval that would come to define the next decade, especially for civil rights, voting rights and a national safety net. At the same time, the demographic make-up of the country in the 1960 Census was still quite traditional: over 88% Caucasian, 19% foreign born, 70% lived in cities, 63% owned their own homes, 69% of men were married, 65% of women were married and the average family size was 3.65 persons. Total population: 183.2 million.

Friday, December 14, 2012
BuilderBytes' MetroIntelligence Economic Update for 12/14/12

Please click here to see the edition of BuilderBytes for 12/14/12 on the Web.
- Federal Reserve to keep rates low as long as unemployment above 6.5% and inflation below 2.5%
- Retail sales up by 0.3% from October and by 3.7% from November 2011
- Producer Price Index fell by 0.8% in November but still up by 1.5% for prior 12-month period
- Initial unemployment claims fall by 29,000 in latest report
Wednesday, December 12, 2012
BuilderBytes' MetroIntelligence Economic Update for 12/12/12

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
- Improving Markets Index surges by 76 to 201 areas in December
- Wholesale trade in October down by 1.2% from September but still 2.3% above October 2011
- U.S. trade deficit rises to $42.2 billion in October
Monday, December 10, 2012
Fremantle Media is now casting female real estate agents in Los Angeles for a new cable series
Also let us know why you have the edge over your competition to sfurlong.gsd@gmail.com or call 818-748-1299.
BuilderBytes' MetroIntelligence Economic Update for 12/10/12
Please click here to see the edition of BuilderBytes for 12/10/12 on the Web.
In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
- Nonfarm employment rose by 146,000 in November as unemployment rate edged down to 7.7%
- Consumer confidence dips in early December due to uncertainty about 'fiscal cliff.'
- Initial unemployment claims fall by 25,000 in latest report following temporary increase due to Hurricane Sandy
- Mortgage applications rise by 4.5% in latest survey, although purchase loans remain flat
Saturday, December 8, 2012
Happy Hanukkah from Housing Chronicles
Friday, December 7, 2012
10 tips for a greener holiday season
Fortunately, the folks at Greenpeace have come up with a list of 10 things you can do to make your own holidays even more green this year.
Read on…
BuilderBytes' MetroIntelligence Economic Update for 12/7/12
Please click here to see the edition of BuilderBytes for 12/7/12 on the Web.
- Private sector employment rose by 118,000 jobs in October
- Job cuts increased for third consecutive month in November but YTD totals still 13% lower than in 2011
- Labor productivity rose at 2.9% annual rate in 3Q 2012
- Factory orders up by 0.8% in October as inventories rise to highest level since 1992
- Service sector economy improving slightly faster in November than in manufacturing sector
Wednesday, December 5, 2012
BuilderBytes' MetroIntelligence Economic Update for 12/5/12
Please click here to see the edition of BuilderBytes for 12/5/12 on the Web.
In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
- Construction spending climbed nearly three times more than more forecast in October
- Manufacturing sector activity falls in November following two months of modest expansion
Tuesday, December 4, 2012
Last day to register for the 2012 Riverside San Bernardino Economic Forecast Conference
Online registration is almost closed for the 2012 Riverside/San Bernardino Economic Forecast Conference! As in years past, MetroIntelligence has written the sections on residential and commercial real estate for the conference book handed out to all attendees. Discounts available for clients and blog readers!
What's next for the Riverside/San Bernardino, California, and U.S. economies?
Where are housing prices heading and how fast will they get there?
Employment is recovering slowly in Riverside/San Bernardino. What is the latest jobs forecast for 2013?
Which of Riverside/San Bernardino's industries are poised for growth?
For over 40 years, the California Environmental Quality Act (CEQA) has been in place as a statewide policy of environmental protection. Has the process become abused? Or is it working the way it should?
Is CEQA really one of the greatest barriers to investment in the state as some critics claim? Is economic growth being affected?
Will removing or altering CEQA protections threaten California's environment? How can that be prevented?
Monday, December 3, 2012
BuilderBytes' MetroIntelligence Economic Update for 12/3/12
Please click here to see the edition of BuilderBytes for 12/3/12 on the Web.
In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
- Federal Reserve reports expanded economic activity 'at a measured pace'
- Personal income flat in October but savings rate rises from 3.3% to 3.4%
- Chicago PMI improves in November after falling for two months
- Initial unemployment claims fall by 23,000 in latest report
- Mortgage applications fall by 0.9% in latest survey, although purchase loans rose by 3%
Friday, November 30, 2012
BuilderBytes' MetroIntelligence Economic Update for 11/30/12

Please click here to see the edition of BuilderBytes for 11/30/12 on the Web.
- New home sales in October dip by 0.3% from September but 17.2% above October 2011
- Pending home sales rose by 5.2% in October to 104.8, the highest level since March 2007
- S&P Home Price Indices rise for sixth consecutive month
- Conference Board Consumer Confidence Index rises to highest level since February 2008
- 3rd quarter 2012 GDP rises to 2.7% from 2.0% in second estimate
Wednesday, November 28, 2012
BuilderBytes' MetroIntelligence Economic Update for 11/28/12

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
- FHFA House Price Index up by 4.0% over last year
- Leading Economic Index rises for second consecutive month
- Consumer confidence treads water in November as consumers await news on "fiscal cliff" agreement
- Durable goods orders rose slightly in October
- Initial unemployment claims fall by 41,000 in latest report following previous spike due to Hurricane Sandy
Thursday, November 22, 2012
Happy Thanksgiving 2012!
Happy Thanksgiving from The Housing Chronicles Blog and MetroIntelligence! In the fall of 1621, the Pilgrims, early settlers of Plymouth Colony, held a three-day feast to celebrate a bountiful harvest, an event many regard as the nation's first Thanksgiving. Historians have also recorded ceremonies of thanks among other groups of European settlers in North America, including British colonists in Virginia in 1619.
The legacy of thanks and the feast have survived the centuries, as the event became a national holiday in 1863 when President Abraham Lincoln proclaimed the last Thursday of November as a national day of thanksgiving. Later, President Franklin Roosevelt clarified that Thanksgiving should always be celebrated on the fourth Thursday of the month to encourage earlier holiday shopping, never on the occasional fifth Thursday.
Here at Housing Chronicles, you may have noticed that we like our statistics. So, in honor of Thanksgiving 2012, here are some interesting stats about the day:
Wednesday, November 21, 2012
BuilderBytes' MetroIntelligence Economic Update for 11/21/12

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
- Existing home sales rose by 2.1% in October as inventory falls to 5.4-month supply
- Builder confidence rises by five points in November to 46
- Building permits in October rise by 2.7% over September and by 29.8% since October of 2011
- Housing starts in October rise by 3.6% over September and by 41.9% since October of 2011
- Some fun statistical facts about Thanksgiving 2012
Monday, November 19, 2012
Registration now open for the 2012 Riverside San Bernardino Economic Forecast Conference
Registration is now open for the 2012 Riverside/San Bernardino Economic Forecast Conference! As in years past, MetroIntelligence has written the sections on residential and commercial real estate for the conference book handed out to all attendees. Discounts available for clients and blog readers!
What's next for the Riverside/San Bernardino, California, and U.S. economies?
Where are housing prices heading and how fast will they get there?
Employment is recovering slowly in Riverside/San Bernardino. What is the latest jobs forecast for 2013?
Which of Riverside/San Bernardino's industries are poised for growth?
For over 40 years, the California Environmental Quality Act (CEQA) has been in place as a statewide policy of environmental protection. Has the process become abused? Or is it working the way it should?
Is CEQA really one of the greatest barriers to investment in the state as some critics claim? Is economic growth being affected?
Will removing or altering CEQA protections threaten California's environment? How can that be prevented?
Builder confidence rises by five points to 46
Builder confidence in the market for newly built, single-family homes posted a solid, five-point gain to 46 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November, released today. This marks the seventh consecutive monthly gain in the confidence gauge and brings it to its highest point since May of 2006.“While our confidence gauge has yet to breach the 50 mark -- at which point an equal number of builders view sales conditions as good versus poor -- we have certainly made substantial progress since this time last year, when the HMI stood at 19,” observed NAHB Chief Economist David Crowe. “At this point, difficult appraisals and tight lending conditions for builders and buyers remain limiting factors for the burgeoning housing recovery, along with shortages of buildable lots that have begun popping up in certain markets.”
Existing home sales and prices rise in October
According to the NAR, existing home sales rose by 2.1% from September to October as prices rose for an eighth consecutive month to $178,600 (up 11.1% from a year ago). From the press release:
Sales of existing homes increased in October, even with some regional impact from Hurricane Sandy, while home prices continued to rise due to lower levels of inventory supply, according to the National Association of Realtors®.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 2.1 percent to a seasonally adjusted annual rate of 4.79 million in October from a downwardly revised 4.69 million in September, and are 10.9 percent above the 4.32 million-unit level in October 2011.
The national median existing-home price for all housing types was $178,600 in October, which is 11.1 percent above a year ago. This marks eight consecutive monthly year-over-year increases, which last occurred from October 2005 to May 2006.
Distressed homes - foreclosures and short sales sold at deep discounts - accounted for 24 percent of October sales (12 percent were foreclosures and 12 percent were short sales), unchanged from September; they were 28 percent in October 2011. Foreclosures sold for an average discount of 20 percent below market value in October, while short sales were discounted 14 percent.
Total housing inventory at the end of October fell 1.4 percent to 2.14 million existing homes available for sale, which represents a 5.4-month supply 4 at the current sales pace, down from 5.6 months in September, and is the lowest housing supply since February of 2006 when it was 5.2 months. Listed inventory is 21.9 percent below a year ago when there was a 7.6-month supply.
You can read the entire release here.