Archive for December, 2011
November Housing Starts Increase
Housing starts for November rose 9.3% to 685,000. The highest annual rate since April 2010. Leading the way was multi-family units, rising 32.2%. Single-family units saw an increase of 2.3%. Over the last year, housing starts are up 24.3%. The Housing Starts report measures the number of residential units on which construction is begun each… Read More »
Delinquency Rate Down- Homeownership rate up.
The Virginia Mortgage Lenders Association release the National Delinquency Survey today. It showed that Homeownership in Virginia rose by 1.3% in the 3rd quarter of 2011 compared to the 3rd quarter 2010. Virginia’s homeownership rate is above the national average by 2.5% at 68.8. Delinquency rates and foreclosure starts fell during the third quarter of… Read More »
Initial Jobless Claims Reach 3-Year Low
Initial jobless claims dropped 19,000 for the week ending December 10th to 366,000. This marks the lowest level for initial claims since May 2008. Though the weekly claims report can be volatile, 5 of the past 6 weeks have come in below the 400,000 mark. A sign that perhaps the employment sector is improving. The… Read More »