U.S. Housing Market Continues to Show Growth

Chicago, IL (PRWEB) March 27, 2013

The Federal Savings Bank finds that multiple economic data points are supporting the housing market recovery. In yesterdays S&P/Case-Shiller report we found that home prices rose 8.1% on average among 20 cities from the end of January 2012 to 2013. Now, another similar indicator, the National Association of Home Builders/First American Improving Markets Index (IMI), states that the total number of metro areas on the rise has reached 274. This is the seventh straight month of improvement for this index. First-time homebuyers and veterans should take notice as interest rates remain very attractive to purchase a home.

The IMI reached 274 after a net gain of 15 markets since February 2012. While 19 markets were dropped 34 were added meeting the positive requirements of the index. The index is based on three different categories. Those categories highlight an improvement in housing permits, housing prices and employment. The three fields are analyzed by separate bodies: the U.S. Census Bureau, Freddie Mac and the Bureau of Labor Statistics.

The Census Bureau takes the growth of single-family housing permits into account, Freddie Mac follows house price appreciation and the Bureau of Labor Statistics monitors employment growth.

We monitor all the major housing indices to give us a broad understanding of the housing market to share with our prospective customers, says Nick, a banker at The Federal Savings Bank.

The Federal Savings Bank always passes on the positive data in the housing market to encourage their customers to purchase a home, provided they are credit worthy for a mortgage. Further, the bank, which specializes in veteran home loans, explains that current low interest rates may not remain forever as the Federal Reserve has pointed out a rate hike may be in order once unemployment declines to 6.5%. Veterans have a special opportunity these days, because not only are home prices still attractive, but VAs can buy a home with zero down payment says Nick. For more information on the housing market or to apply for veteran home loan visit: TheFederalSavingsBank.com

More Freddie Mac Press Releases

Tags: , , , , ,

Comments are closed.

Spanish Crisis Triggers Real Estate Price Collapse

Baltimore, MD (PRWEB) June 29, 2012 A move by Spanish banks to offload the build-up of foreclosed properties on their [...]

Self Storage Provider Coronado Mobile Storage Joins Forces with LAD Solutions in Promoting Storage Containers as Mobile Offices

San Diego, CA (PRWEB) July 03, 2012 With the collapse in real estate prices and explosive growth in home foreclosures [...]


Real Estate Prices LOFTS DOWNTOWN LOS ANGELES FOR SALE AND LEASE RENTALS. LA loft prices and market report Corey Chambers, [...]

Mortgage Rates Drop to New Record Lows Influencing Increase In Refinancing and Home Building Activity According to BurlingtonMortgage.biz

Wilmington, NC (PRWEB) July 24, 2012 Mortgage rates have reached a new historical low point for 30 year fixed, 15 [...]

NFIB Stated Confidence in Small Business Takes a Steep Drop XSM Services aimed to Restore Faith

Denver, Colorado (PRWEB) January 30, 2013 After the recession took its toll on the U.S. economy, the fiscal cliff and [...]

Junior State of America Releases Winter 2013 Edition of Student-Run Magazine, The Junior Statement

Washington, DC (PRWEB) January 31, 2013 The Junior State of America (JSA) today released the Winter 2013 Edition of The [...]