Archive for February, 2012

NAHB Data Say the Downturn Is Over

posted on February 29th, 2012 filed under: Real Estate Market Data

The Housing Market Index (HMI) maintained by the National Association of Home Builders and Wells Fargo suggests the bottom is in and the downturn is over.

The HMI is a sentiment index.  It reflects a monthly survey of home builders that measures their opinions of current conditions and future expectations.  So even if lagging or concurrent price or sales data continue to struggle, home builders may become more optimistic about the future based on their inside insight.

A minor uptick in the HMI would not be noteworthy.  But the HMI has spiked over the last few months in a manner that previously has been associated with the end of a downturn (compare the recent spike to that in the early 1990s in the chart below).

NAHB Housing Market Index (HMI) -- Chart, Graph -- February 2012

Risks remain — especially the possibility of higher inflation and interest rates without corresponding wage gains.  But for now at least, the HMI is telling a different tale.

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Must Be High Season

posted on February 21st, 2012 filed under: Miami and Coral Gables Living

No shortage of things to do in Miami in February.  You couldn’t go anywhere without stumbling onto some event this Presidents’ Day weekend . . . .

  • The inaugural Art Wynwood International Contemporary Art Fair filled the streets of Miami’s current bohemia in Wynwood, where artists go to struggle these days
  • The Coconut Grove Arts Festival filled the streets of Miami’s erstwhile bohemia, where real estate values are way too high and the ambiance way too conventional for those artists who truly struggle
  • The Miami International Boat Show stoked the imaginations of buyers and gawkers alike

Miami Beach Real Estate Photos -- Miami International Boat Show 2012 (1)

  • The University of Miami Hurricanes baseball team led off its 2012 season in fine form with a 3-game sweep of the Rutgers Scarlet Knights, including a 12-inning nail-biter in Game 2 that saw both teams blow bases-loaded opportunities to break a 1-1 tie.

Coral Gables Real Estate Photos -- UM Univ Miami Hurricanes Baseball 2012

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Supply of Single-Family Homes for Sale in Coral Gables Drops Below 300

posted on February 3rd, 2012 filed under: Real Estate Market Data, Real Estate News

The number of single-family homes for sale in Coral Gables has dropped below 300 (to be precise, the number stands at 297), according to MLS data.  The supply has steadily declined since hitting a high of 631 in March 2008.

Coral Gables Real Estate Photos -- Entrance Arch at Miracle Mile and Douglas Rd 2

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