National
Economy Watch: Bank Failures Sluggish in ’14
Over the weekend, the FDIC closed its 14th failed bank of 2014, Greenchoice Bank in Chicago.
Economy Watch: New Home Sales Drop in June
Sales of new single-family houses nationwide came in at an annualized rate of 406,000 units, according to the Census Bureau. That’s 8.1 percent below the May rate of 442,000 units, and 11.5 percent lower than the rate in June 2013.
Apartment Market Remains Strong in First Half of 2014
According to a recent report from apartment research company Axiometrics, the U.S. apartment market has remained strong through the first half of 2014, thanks in part to low concession rates, high annualized rent growth and occupancy rates.
Insider’s Perspective: Banks Eager to Make CRE Loans, Still Unloading Distressed Assets
As an officer who confers with banks on a daily basis, Richard Walter, senior managing director of Promontory Interfinancial Network and head of Bank Assetpoint, can provide borrowers with a perspective into the financial institutions.
Apartment Markets Continue Expansion in July NMHC Quarterly Survey
Apartment markets continued to expand in the second quarter of 2014, as growth accelerated in all four indexes in the National Multifamily Housing Council Quarterly Survey of Apartment Market Conditions.
Remodeler Confidence Regains Momentum, Says NAHB
The National Association of Home Builders’ Remodeling Market Index rose three points to 56 in the second quarter of 2014, regaining the momentum built in 2013. This is the fifth consecutive quarter for an RMI reading above 50.
Economy Watch: Mortgages in Foreclosure Drop Steeply Since ’13
Black Night reported that the number of delinquent U.S. residential loans increased slightly in June compared with May, but is down 15 percent year- over-year.
CDT Reaches $1B in Cumulative Investments on Organization’s 15th Anniversary
The nation’s first and largest private REIT, Community Development Trust, has announced that it has surpassed the $1 billion mark in cumulative investments in affordable housing after closing on a $40 million portfolio in California. The accomplishment coincides with the organization’s 15-year anniversary.
Economy Watch: Existing Home Sales Up in June
The National Association of Realtors reported that total existing-home sales rose in June by 2.6 percent month-over-month to an annualized rate of 5.04 million units, compared with 4.91 units million in May.
Economy Watch: Chicago Fed Says Economy Still Growing
The Chicago Fed National Activity Index edged down to +0.12 in June from +0.16 in May, according to the Chicago Fed.