Info That Hits Us Where We Live – Multi-Family Sector

QUOTE OF THE WEEK… “Don’t talk unless you can improve the silence.” –Jorge Luis Borges, Argentine writer

INFO THAT HITS US WHERE WE LIVE… It certainly is a nice improvement over silence to report that Building Permits for new homes were up 5.2% in September, 6.2% in October, and are now up 13% in the past year. The multifamily sector is hot right now, accounting for most of the monthly increases and for 60% of the annual gains. But single-family permits were also up from September to October and are now at a seasonally adjusted rate of 620,000 units, an 8.8% gain versus a year ago. The Census Bureau said September and October Housing Starts would be released with November numbers onDecember 18.

Home prices also continued to strengthen. The S&P/Case-Shiller home price index went up 1% in September, to a 13.3% gain for the year, increasing in all 20 metros measured. The FHFA index of prices for homes financed by conforming mortgages edged up 0.3% in September and is up 8.5% over last year. Speaking of conforming mortgages, the acting director of the FHFA announced last week that the $417,000 conforming loan limit will not be lowered, good news for the housing market. A glitch: Pending Home Sales dipped 0.6% in October, but some expect existing home sales to start back up in December.

Kristen Zorda
Loan Officer
648 Plank Rd. Suite 203
Clifton Park NY 12065
Office: 518-366-7999
PrimeLending, a PlainsCapital Company

Orson B.Klender,  Associate Broker

Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866

www.RealEstateSaleSaratogaSpringsNY.com

www.OrsonKlender.com

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Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066

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About Real Estate Agent in Saratoga Springs

As an agent who's an expert in this local area, I bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you can trust for up-to-date information. I am eager to serve you.

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