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State Associations and Agencies
Stay informed directly by the source. On both the national and state levels, our Associations & Agencies section is the place to find the latest news and information impacting the housing industry. Press Releases and Notifications are posted as they are released by industry associations and regulatory agencies.
Check back often. This comprehensive directory of Professional Associations and Regulatory Agencies is state specific and will provide the information you need. For direct access to these organizations just click any of the links above.
The National Associations page covers Professional Associations and Regulatory Agencies links in addition to the latest press coverage from respected sources including NCSHA, MBA, NAR, NAMB, Fannie Mae, FHA and many more.
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| St. George housing market steadies out in 3Q11 |
| Tuesday, 15 November 2011 10:16 |
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Metrostudy Report - St. George, UT– November 1, 2011 - In the St. George MSA, job losses contribute to a volatile housing market, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market. According to the most recent numbers released by the BLS, the St. George MSA is showing a loss of –500 jobs in the past 12 months, however they are showing an improvement compared to the loss of –900 at this time last year. The unemployment rate in the St. George MSA took a slight jump in May and June (to end at 9.8%). However, the rate has decreased and remained unchanged at 9.4% for the past two months ending August 2011. Annual new home starts for the St. George market totaled 523 as of 3Q11, which is a 15.3% decrease when compared to the annual pace last year at this time. “Quarter over quarter starts have also decreased, down 15.4% compared to last year and down 1% from last quarter,” said Eric Allen, director of Metrostudy’s St. George Division. There has been a total decrease of 102 new homes closed this quarter which is down 59.7% compared to 3Q10 and another 16.4% from last quarter. In 2010, new home starts received a boost from the tax credit, and therefore resulting in the recent slowdown as builders continue their focus on selling that inventory. There is currently an 8.3 month supply of new homes, both attached and detached, in the St. George market, which is an overall decrease of 35 homes, or 8.3% compared to last year at this time. “The current supply of finished vacant homes are at levels the market has not seen since the boom time in 2006, with only a 2.3 month supply of these homes” said Allen. Under construction inventory has increased 39% from last year and 11% from last quarter. Builders are now at a point that when they sell a home, they must build a new one to replace it, therefore demonstrated by the recent increase of homes under construction. “The St. George market area is slowly showing improvements in both housing and the economy, however expectations for the next 12-18 months should be pretty similar to the present situation; a slow recovery but progress is being made,” said Allen. For information contact: |
