As the U.S. economy shows improvement and the unemployment picture brightens, a batch of new housing data released this week will offer the market some clues about the strength and vitality of the U.S. housing recovery.
U.S. Housing Calendar for this week:
Monday- NAHB (National Assoc of Homebuilders)/ Wells Fargo Housing Index (HMI) gauges home builder sentiment.
Tuesday- Housing Starts and Building Permits
Wednesday- Existing Home Sales- Mortgage and Refinance Indices
Thursday- FHFA (Federal Housing Finance Agency) house prices
Friday-New Home Sales
According to the research of Corelogic, 23 percent of the roughly 50 million residential mortgages in the United States are currently “underwater”. Nationally, U.S. home values declined 4% in 2011.
But there are signs of hope for the beaten down U.S. housing market in 2012.
The latest survey of housing markets showing measurable improvement reached 99 U.S. housing markets in March, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released on March 15, 2012.
January U.S. home sales are housing starts are showing improvement
According to the National Association of Realtors, existing home sales attained their fastest pace in 20 months in January 2012 while more Americans than expected signed contracts to purchase homes. Housing starts also rose 1.5% in January to a rate of 699,000, according to the Commerce Department.