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Posts Tagged ‘lmi’

Manufactured Homes Still on Assistance List in the Wake of Hurricane Sandy

June 10th, 2015 Comments off

hurricane_sandy_aftermath__cnn_news_creditNew Jersey continues to deal with the rebuilding of homes along the Atlantic Coast as a result of Hurricane Sandy, the Oct. 2012 storm which killed 117 people in the U. S., leveled thousands of homes and left a path of destruction costing $65 billion. The Christie administration has set another information session for June 15 in Toms River to provide personal assistance for storm-affected homeowners participating in the Low and Moderate Income (LMI) Homeowners Rebuilding program.

Over 1,000 applicants attended the last such meeting, according to thesandpaper.villagesoup, indicating there remains much work yet to be done nearly three years out. The N.J. Department of Community Affairs will have staff on hand to answer questions about all aspects of the program. A portion of funding has been specifically set aside for owners of manufactured homes who seek to rehabilitate, reconstruct and elevate their homes, as long as it was their primary residence. MHProNews understands the applicants must meet the limited financial means requirements. ##

(Photo credit: cnnnews–Hurricane Sandy aftermath)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Housing Market Recovery Moving Slowly

May 8th, 2015 Comments off

question_mark_houses__fotosearchThe National Association of Home Builders/First American Leading Markets Index (LMI) tells MHProNews 68 of the 360 metro areas nationwide equaled or exceeded their last normal levels of economic and housing activity in Q1 of 2015. Based on current permit, price and employment information, nationwide the average is running at 91 percent of normal economic and housing activity. The LMI is based on employment data, house appreciation statistics and single-family housing permits.

Baton Rouge, LA leads the larger metro markets with a score of 1.43, which means it is 43 above its last normal market level. The remaining top five markets, in order, are Austin, Texas, Honolulu, Houston and Oklahoma City.

Noting the gradual pace of the housing market recovery, NAHB’s Chief Economist David Crowe says, “Despite a minor uptick in single-family permits, only 7 percent of the markets are at or above their normal permit activity.

Kurt Pfotenhauer, vice chairman of First American Title Insurance Company, which co-sponsors the LMI report, reports 157 of the 360 metro areas have attained 90 percent of their previous normal normal levels, based on 2000-2003 as the comparison. ##

(Image credit: fotosearch–question mark homes)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

NAHB: Housing Numbers Showing Modest Rise

April 8th, 2014 Comments off

Statistics from the National Association of Home Builders (NAHB) indicate modest improvement this month over March, and anticipates a traditional, solid, spring home-buying season. Based on employment, permits and price data, the NAHB/First American Leading Markets Index (LMI) reports 28 percent of metro areas experienced a rise in their score this month, and 83 percent saw a rise within the last year. Baton Rouge, LA tops the list of large metro LMI areas, MHProNews.com has learned, followed by Honolulu, Oklahoma City, Austin and Houston, Texas, San Jose, CA. and Harrisburg, PA. Smaller metro areas with strong LMIs are centered around energy exploration sites such as Odessa and Midland, Texas, and western North Dakota. ##

(Image credit: etftrends.com)

Leading Housing Markets Index Nudges Higher

February 6th, 2014 Comments off

According to the National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI), markets in 58 out of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, a net gain of two points over last month. Based on current permits, prices and employment data, the nationwide average is running at 87 percent of normal economic and housing activity, with 2000-2003 used as the last normal period for permits and prices, and 2007 for employment.

“Firming home prices are hastening the return of normal economic and housing activity in an increasing number of markets,” said NAHB Chief Economist David Crowe. “The healthiest markets continue to be centered in smaller metros that boast strong local economies, particularly in the oil and gas producing states of Texas, North Dakota, Louisiana and Wyoming.” MHProNews.com understands that 85 percent of all metropolitan areas have indicated signs of improvement in the last year.

(Image credit: globest.com–housing recovery)

Housing Market Gradually Picks up Steam

January 8th, 2014 Comments off

The National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI), which recently replace NAHB’s improving market index (IMI), indicates markets in 56 of the 350 major metro markets returned to or exceeded their last normal levels of economic activity, indicating a net gain of two over the previous month. Based on current permits, prices and employment data, LMI data for December indicates the nationwide market is operating at 86 percent of normal economic and housing activity. Says NAHB Chief Economist David Crowe, “Forty-five percent of metro areas are recovering at a faster pace than the nation as a whole, with smaller markets leading the way. Of the 56 markets that are at or above normal levels, 48 of them have populations that are less than 500,000, and many of these local metros are fueled by a strong energy sector, which is producing solid job and economic growth.”

MHProNews has learned Baton Rouge, Louisiana is the top large metro area with an LMI of 1.42—42 percent above its last normal market level, followed by Honolulu, Oklahoma City, Austin and Houston, Texas, and Harrisburg and Pittsburgh, Pennsylvania. Kurt Pfotenhauer, vice chairman of First American Title Insurance Co., which co-sponsors the LMI report, adds, “More than 35 percent of all the markets on this month’s LMI are operating at a capacity of 90 percent or better of previous norms, which is a good sign that the housing recovery will continue to pick up steam in 2014.”

(Photo credit: Ryan Garza/flintjournal.com)