Posted on May 19, 2009 | Tagged in: NAHB , economy
Newfound hope is now in sight for the Houston housing market, helping it get back on track after its economic slump.
The National Association of Home Builders has recently issued an index reporting an increase in the confidence levels measured among U.S. homebuilders, which rose from 12 points in April to 14 in May. The numbers have been increasing slowly and steadily since February, and have reached their highest in the past eight months, marking a shift in a positive direction.
Posted on May 13, 2009 | Tagged in: economy , business
After the record-high levels in April of foreclosures throughout the nation, May is looking to be the month of changes, with Texas in the lead.
The U.S. Foreclosure Market Report by RealtyTrac has estimated that one in every 347 housing units received a foreclosure notice last month, about 342,000 properties, the highest record in the last four years. In the same report, Texas showed 11,314 properties in the foreclosure process, a high amount due to the large size of the state, and therefore its corresponding population and number of homes.
As of May 13th, the percentage of foreclosures throughout the state has declined by 9%, indicating that Texas is performing better in the housing market than many other areas of the country.
These percentages have been on the rise for the past several years, peaking now because the economic stress on the housing market. With this new development spreading in Texas, it seems hopeful that national foreclosure rates will begin declining in the near future as well.
Source: Houston Business Journal
