US Housing Shows Sign of Recovery


Posted on Oct 17, 2012

The Commerce Department stated that single family homes and apartments were started at a seasonally adjusted annual rate of 872,000 in September, which was up 15% from the previous month.

Still, it is well below the 1.5 million seen as healthy pre-recession.

The large US banks reporting third-quarter results in the past week have referred to a housing market recovery.

JP Morgan Chase chief executive Jamie Dimon said last week: "Importantly, we believe the housing market has turned the corner."

His bank set aside less money to cover bad mortgage loans, as did Bank of America, which reported results earlier on Wednesday.

"If there was any doubt that the housing market was undergoing a recovery, even a modest one in the face of the terrible 2008 decline, those doubts should be erased by now," said Dan Greenhaus, chief global strategist at BTIG.

"Today's data reinforce the view that while housing is not going to be the driver of economic activity that it was in the middle of the prior decade, neither will it be the anchor on activity that it has been in recent years."

Applications for building permits, which are an indicator of future building activity, jumped 12% to an annual rate of 894,000 in September.

back to top


Get Title Quote Here

Contact Us

First Name:*

Last Name:*

Phone:*

Email:*

Tell us more:


 

Mega Title, LLC

721 Route 34, Suite 3
Matawan, NJ 07747
Phone: 732-242-9835
Toll Free: 877-550-MEGA
Get Directions | See Detail

Connect with Us:

Testimonials

  • Samah and her team at Mega Title were efficient and professional in
    handling our refinance closing. I had used them in a prior refinance
    and was so impressed with the attention to detail that I came back
    this time again. They are accomodating to your schedule, meet the
    deadlines so they don't waste your time and most of all treat you as
    if you are their most important customer at all times. I couldn't ask
    for better service - they took care of everything. Just had to show
    up and sign.
  • As a real estate attorney, I have dealt with numerous title companies.
  • I recently refinanced my home. Mega Title really made my life much easier.
  • I really appreciated the excellent service and caring attitude during my refinance.
  • I can't express how impressed I am with your customer service!

View All