News Releases

Housing Tides Index™ December 2017 – Job Gains Create Housing Demand, but Other Factors Limit Household Growth

The Housing Tides Index decreased this month, falling to 70.1 from a downwardly-revised 71.0 in November. This is the fourth straight month of year-over-year declines in the Housing Tides Index.

December 12, 2017, DENVER – This week marks the release of the December Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

  • Job growth continues to outpace tepid housing construction across the U.S., with 2.97M net new jobs added but only 1.23M housing permits approved for the year ending September 2017. 1
  • This is at odds with recently-released demographic data which show only 652k new households formed in 2016. The slow rate of household formation suggests that a large portion of the newly-employed workers have delayed forming new independent households. Analysis from the Pew Research Center showed 15% of 25- to 35-year-old Millennials currently living with their parents, and the National Association of Realtors estimates the first-time homebuyer share at 34%, below the historical average of 39%. These trends signal pent-up housing demand that is not translating to purchase activity, but should provide a supportive environment for housing moving forward.
  • U.S. rent prices continue to ease, with the median rent for a two-bedroom unit falling to $1,520 in October.2 Nationally, prices are down 5% in the last year, but the story is different at the metropolitan level. Only three of the markets tracked by Housing Tides showed a yearly decline in rent prices. Instead, annual rent growth topped 5% in 29 markets, with prices rising as much as 17.4% in Riverside, CA, 16.1% in Atlanta, GA and 15.6% in Salt Lake City, UT.
  • As many expected, U.S. mortgage delinquency spiked in September following the devastation of Hurricane Harvey across the South. The share of loans 30 or more days past due increased to 4.4% after totaling 3.93% in August. Black Knight noted that there is historical precedent for a September rise in mortgage delinquency; the delinquency rate increased month-over-month in September 2015 and 2016, but by a much smaller margin than this year. Unsurprisingly, Florida and Texas were affected the most by the recent surge, with the delinquency rate increasing from 3.9% to 6.7% in Florida and from 5.3% to 6.9% in Texas.
  • The U.S. unemployment rate fell again in October, dipping below 4% for the first time since December 2000. At the same time, the Bureau of Economic Analysis estimates that per-capita income increased to $49.2k in 2016, up 1.6% from 2015. Jointly, strong hiring trends and increased compensation have led to the most-optimistic consumer outlook since late 2000, with the Consumer Confidence Index edging up to 129.5.3

1 Bureau of Labor Statistics, U.S. Census Bureau

2 Redfin

3 The Conference Board

The Ten Healthiest U.S. Housing Markets – December, 2017:

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media which delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.

Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind. For further information, please visit housingtides.com and connect on Twitter, Facebookand LinkedIn.

Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/12/prweb15003199.htm

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Housing Tides Index™ November 2017 – Strong Multi-family Construction Points to Continuing Softening of Rental Rates

FOR IMMEDIATE RELEASE

The Housing Tides Index increased by one point this month, reaching 71.1 after recording a value of 70.1 in October. However, the Index remains lower than its level of 72.6 in November 2016.

November 13, 2017, DENVER – This week marks the release of the October Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. This month’s Index update reveals an improvement in housing market health as 30 of the 41 markets tracked by Housing Tides saw improved conditions.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – November 2017:

  • The biggest driver of the small rise in the Index this month is the improvement in housing supply, which moved from 2.8 months of supply in August to 3.3 in September. Still, this level of supply is lower than that of a healthy, balanced market and we must note that this increase was due entirely to a 17% decrease in the number of home sales. This exceeded the drop in for-sale inventory, which fell month-over-month and in September marked the eighteenth consecutive month of year-over-year decreases. The increase in the months of supply measure could therefore be attributed to a combination of the typical seasonal sales slowdown and some price resistance among potential homebuyers, with the median sales price increasing 7.5% in the last year, a pace considerably higher than that of wage growth.
  • Strength in the U.S. employment market continued in September as the unemployment rate fell to 4.1%, its lowest level since late 2000. This strength was expressed in the October Consumer Confidence Index, which reached its most optimistic level since December 2000. Consumers noted improvements in both present-day conditions and the short-term economic outlook, though a slightly smaller share of respondents expected an improvement in short-term income prospects.
  • As we noted in June, the number of apartments under construction reached a forty-year high this summer and rental rates have been affected by the stream of completed units coming to market; the national median price for a two-bedroom unit fell year-over-year in each of the last eight months. Median monthly rents for these units have fallen by over $200 since mid-2014, from $1,750 in June 2014 to $1,545 in September 2017. Remarkably, these rent decreases have taken place at a time when much of the new multi-family construction in the U.S. has been in the high-cost luxury category. Taking a big-picture view, this trend should be beneficial for renters that have struggled to save for a down payment while home prices have continued their march upwards. Multi-family housing permits have totaled 292.9k through the first nine months of 2017, marginally higher than the same period in 2016, so we can expect the trend of moderating rent prices to continue in the short term.
  • Single-family permit approvals fell further than expected in September, with 32,400 approved in aggregate across the 41 Tides markets. Multi-family permitting was characteristically volatile, falling 15.7% in September with just 23,000 permits approved in the month. However, the six-month moving average was little changed at a rate of 25,000 permits per month.
  • Single-family permit totals followed our expectations, rising in aggregate across the metro areas tracked by the Tides team, with 37,300 permits approved in August following 35,400 in July. Multi-family permit approvals increased sizably, up by nearly 35% in August, with 27,300 permits approved after just 20,300 in July. The six-month moving average increased to a rate of 25,100 multi-family permits per month.

The Ten Healthiest U.S. Housing Markets – November, 2017:

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media which delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.

Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind.For further information, please visit housingtides.com and connect on Twitter, Facebook and LinkedIn.

Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/11/prweb14908510.htm

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Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

Housing Tides Index™ October 2017 – Household Data Show Formations Lagging Construction Permits

FOR IMMEDIATE RELEASE

The Housing Tides Index fell by nearly three points this month, and at a value of 70.1 the Index is at its lowest point since June 2016. 

October 13, 2017, DENVER – This week marks the release of the October Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. This month’s Index update reveals an improvement in housing market health as 30 of the 41 markets tracked by Housing Tides saw improved conditions.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – October 2017:

  • Driving the significant drop in the Index was the release of 2016 local household formation data from the U.S. Census Bureau’s American Community Survey (ACS). The Index component that measures the ratio of housing permits to household formations worsened considerably, from a largely healthy ratio of 1.24 in 2015 to a less-ideal 1.83 in 2016.  Specifically, while the U.S. saw 1.19M housing permits approved in 2016, the ACS data show that there were just 652k new households formed.  Compare this to 2015, with 1.18M permits approved and 949k new households formed. 
  • It’s difficult to reconcile the above, which suggests that housing construction is outpacing household formation by a large margin, with the extreme shortage of homes for sale, which fell to 2.8 months of supply in August. It’s possible that investors and second-home buyers continue to snap up homes, increasing the demand for housing beyond what the household formation data would suggest.  The National Association of Realtors reported that just 70% of home sales in 2016 were to buyers who intended to use the property as a primary residence, which is consistent with this hypothesis.  Still, our measure of housing permits to employment growth remains solidly in healthy territory, leaving it unclear why household formations slowed by so much in 2016.
  • Federal Housing Finance Agency data show that the effective mortgage interest rate for sales closed rose to 4.14% in August, up from a 2017 low of 4.02% in May, and remaining higher than the 2016 average of 3.86%. On September 18 the Federal Reserve announced a widely-anticipated plan to slowly reduce its balance sheet starting in October, as the central bank sees market conditions appropriate to slow reinvestment of the maturing mortgage-backed securities (MBS) and U.S. Treasury bonds that constitute the majority of holdings accumulated during periods of quantitative easing. 
  • Some analysts speculate that this will have similar effects as a hike of the federal funds rate, as decreasing overall demand for MBS and Treasuries should decrease their prices and subsequently increase their yields, all else equal. Consequently, mortgage rates would increase as investors could obtain higher yields elsewhere, increasing the mortgage risk premium.  To be sure, these effects are contingent on expectations of economic growth and inflation remaining unchanged, since prospects of lower growth or inflation would put downward pressure on interest rates.  Any substantive increase in mortgage rates would squash refinance activity and suppress new mortgage originations, as monthly mortgage payments would increase at a time when housing affordability is already stretched in most major U.S. metros.
  • Single-family permit totals followed our expectations, rising in aggregate across the metro areas tracked by the Tides team, with 37,300 permits approved in August following 35,400 in July. Multi-family permit approvals increased sizably, up by nearly 35% in August, with 27,300 permits approved after just 20,300 in July.  The six-month moving average increased to a rate of 25,100 multi-family permits per month.

The Ten Healthiest U.S. Housing Markets – October, 2017:

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media which delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.

Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind.For further information, please visit housingtides.com and connect on Twitter, Facebook and LinkedIn.

Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit http://www.prweb.com/releases/2017/10/prweb14804237.htm

###

Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

Housing Tides Index™ September 2017 – Robust Housing Demand Constrained by Tight Supply

FOR IMMEDIATE RELEASE

The Housing Tides Index increased for the second straight month in September, reaching a value of 73.5 following August’s reading of 73.2. This month’s Index value is unchanged from a level of 73.5 in September 2016.

September 13, 2017, DENVER – This week marks the release of the September Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. This month’s Index update reveals an improvement in housing market health as 30 of the 41 markets tracked by Housing Tides saw improved conditions.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – September 2017:

  • We noted last month that there were nearly 95k fewer homes for sale in June 2017 when compared to June 2016 and this pattern has continued, with Redfin reporting a similar year-over-year drop in July. The number of homes listed for sale is at its lowest level for any July since 2013 and this dearth of inventory surely contributed to the widely-publicized drop in new and existing home sales recorded in the month. However, the fall in the number of transactions means the months-of-supply measure improved in July, and the current inventory would be exhausted in three months at the current sales pace.
  • Still, continued price appreciation, intense competition among shoppers, and the fact that many current homeowners took advantage of low interest rates and refinanced in 2016 to lock in a low mortgage rate all mean that it’s likely a significant pool of potential buyers has been kept out of the market. This housing shortfall affects labor mobility, curbing U.S. economic growth at a time when unemployment rates are very low and homebuilders continue to lament the shortage of skilled laborers in major metros.
  • Though measures of homebuilder and consumer confidence have weakened slightly in recent months, the Housing Market Index and Consumer Confidence Index remain solidly in positive territory, signaling that builders and consumers alike maintain a positive outlook on their current and near-term prospects. Foreclosure activity continues to steadily decrease and mortgage delinquency remains near its lowest level in years.
  • Moreover, Bureau of Labor Statistics estimates show well over two million more persons employed as of July when compared to a year ago, and the Federal Reserve Bank of Atlanta estimates year-over-year median wage growth at 3.3%, outpacing still-tepid inflation. In short, the financial health and optimistic outlook of consumers suggests that housing demand will remain robust in the near-term, which is supported by the positive reading of homebuilder sentiment. It remains to be seen whether builders will be able to ramp up production to improve the supply shortfall, but strong pent-up demand for housing should persist.
  • After exceeding our expectations and reaching a ten-year high in June, single-family permit approvals fell in July by over 16% in aggregate across the metros we track with just 35,400 permits approved. Multi-family permit approvals fell considerably as well, dropping by over a third in July and pulling the six-month moving average down to a rate of 23,700 per month.

The Ten Healthiest U.S. Housing Markets – September, 2017:

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media which delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.

Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind.For further information, please visit housingtides.com and connect on Twitter, Facebook and LinkedIn.

Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/09/prweb14682851.htm

###

Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

Housing Tides Index™ August 2017 – Housing Market Health Improved Despite Tight Housing Inventory and Prices Outpacing Income Gains

FOR IMMEDIATE RELEASE

The Housing Tides Index increased one point in August, indicating modestly improved housing market conditions from one month ago.  The Index is at 73.2 after scoring 72.2 in July and remains in healthy territory.

August 10, 2017, DENVER – This week marks the release of the August Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. This month’s Index update reveals an improvement in housing market health as 32 of the 41 markets tracked by Housing Tides saw improved conditions.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – August 2017:
  • Real estate brokerage Redfin reported that there were nearly 95k fewer homes for sale in the U.S. in June when compared to June 2016. At the current sales pace this inventory amounts to just 2.5 months of supply, a post-recession low and far below the six months of supply that is regarded as balanced between supply and demand.  Consequently, the median price for homes sold reached $298k in June, its highest level since the company began tracking the data in 2009.  Median sales prices have risen 7.6% from $277k in June 2016.  The U.S. Case-Shiller Index of home prices also reached an all-time high in May per latest data from S&P and CoreLogic, and is up over 5.5% in the last year.  Home price gains continue to exceed wage increases, as U.S. per capita personal income was estimated at just over $50k in 2017Q2 and had increased only 2.1% from one year ago.
  • It’s clear that homebuilders have ramped up the pace of construction in an effort to satisfy the sustained demand for housing. Census data show that there were 81.8k U.S. single-family permit approvals in June, the highest monthly total since August 2007.  This observation gives reason to be optimistic about new construction efforts helping to balance the market between buyers and sellers and ease home price increases.  However, we should note that the Census Bureau estimates June housing permits at a 1.28M seasonally-adjusted annual pace, which remains lower than the approximately 1.5 million units the country needs per year. Using Census data, we estimate the long-run average pace of homebuilding was 1.45M units per year prior to the onset of the 2007-09 recession.
  • According to the Census Bureau, the U.S. rental vacancy rate has increased in the last four quarters and reached 7.3% in 2017Q2. In June we noted that the number of apartments under construction had reached a forty-year high and it’s apparent that the completion of these units has begun to put upward pressure on the vacancy rate.  It’s likely that the increased vacancy rate will suppress rental prices and as such may translate to lower demand in the purchase market as consumers incorporate these price effects into their buy-or-rent decisions.
  • Assuaging worries about the uptick in mortgage delinquency observed in April, latest data from Black Knight Financial Services showed that the delinquency rate resumed its long downward trend in May. The delinquency rate is now at 3.79%, still higher than the low of 3.62% in March 2017, but considerably lower than levels observed in recent years.
  • As noted above, single-family housing permits increased in June, with 42,500 permits approved across the 41 markets tracked by Housing Tides. This is the highest total in these markets since June 2007.  Multi-family permits rose by over a third in June, totaling 31,800, and the six-month moving average increased to a rate of 24,400 per month.

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The Ten Healthiest U.S. Housing Markets – August, 2017:

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media which delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.

Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind.For further information, please visit housingtides.com and connect on Twitter, Facebook and LinkedIn.

Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/08/prweb14583636.htm

###

Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

Housing Tides Index™ July 2017 – U.S. Market Health Little Changed, Though Significant Local Variations Persist

FOR IMMEDIATE RELEASE

The Housing Tides Index was little changed this month, falling just 0.2 points in July as our measure of U.S. housing market health dropped to 72.1 in July from 72.3 in June

July 12, 2017, DENVER – This week marks the release of the July Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. This month’s Index update reveals an improvement in housing market health as loan performance improved to the best levels in nearly a decade.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – July 2017

  • It’s important to note the considerable local variations in the Housing Tides Index. With a score of 76.8, Virginia Beach, VA held the top spot in our rankings for the fifth straight month, largely due to new construction levels that have matched employment and household growth, moderate home price and rent affordability, and strong mortgage performance. On the other hand, with an Index value of 62.9, New York City has languished at or near the bottom of our rankings for the last seven months, suffering from rental costs that require nearly 50% of the median local income, a net exodus of households from the metro area according to latest Census data, and the highest rate of homes in foreclosure in the country.
  • The ratio of U.S. housing permits to employment growth in the previous year fell to 0.45 in April from 0.51 in March, with 2.57 million workers added to payrolls but just 1.17 million housing permits approved. The Housing Tides team suggests a target healthy range of 0.5 – 1.5 housing permits per job added. As such, the number of homes permitted in the last year is well short of what’s needed to attain balance in the market. Economists estimate that the U.S. needs approximately 1.5 million housing units per year to keep up with household growth and the loss of obsolete units.
  • As a consequence, housing inventory fell to 2.7 months of supply in May, its lowest level since Redfin began tracking the market in 2010. Six months of supply is generally regarded as a balanced, healthy level of inventory. There is some variation among major metro areas; 28 of the 41 metropolitan areas tracked by the Tides team totaled less than 2.7 months of supply, with the Seattle, Denver, and San Jose markets all containing less than one month at the current sales pace. The shortfall of homes for sale signals continued price appreciation throughout the year barring any unforeseen economic shock.
  • The U.S. construction unemployment rate fell to 6.3% in April and is now better aligned with anecdotal evidence of industry labor shortages.
  • Last month we noted that the mortgage delinquency rate fell to 3.62% in March, its lowest level since 2007. April data show that delinquencies spiked in April, with 4.08% of all mortgages 30 or more days past due. However, we should remember that delinquencies also rose in April 2016 from the previous month.
  • Single-family housing permits rebounded in aggregate across the metro areas we track, totaling 40,300 in May after falling to 35,600 in April. Multi-family permits dropped slightly in May, totaling 23,700, and the six-month moving average fell for the fourth straight month to a rate of 23,300 permits per month.

Housing Tides Index National Infographic July 2017

Highlighting the Ten Healthiest U.S. Housing Markets – July 2017null

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media which delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.

Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind.For further information, please visit housingtides.com and connect on Twitter, Facebook and LinkedIn.

Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017housingtidesindex/07/prweb14499195.htm

###

Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

Housing Tides Index™ June 2017 – Housing Data Shows Improvement as Mortgage Delinquencies and Foreclosures Fall to New Lows

FOR IMMEDIATE RELEASE

U.S. housing markets strengthened marginally this month as the Housing Tides Index rose to 72.3 from 71.8 in May. This represents a modest improvement over the Index value of 70.0 in June 2016, and 26 of the 41 metropolitan areas tracked recorded higher Index scores this month when compared to one year ago.

June 15, 2017, DENVER – This week marks the release of the June Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. This month’s Index update reveals an improvement in housing market health as loan performance improved to the best levels in nearly a decade.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – June 2017

    • Black Knight Financial Services (BKFS) recently reported that the mortgage delinquency rate fell to 3.62% in March, and a review of historical U.S. mortgage delinquency data provided by the Federal Reserve Bank of St. Louis shows that this is the lowest rate of mortgage delinquency since late 2007. This continues the trend of mortgage market normalization, though delinquencies have not yet fallen to their pre-recession level of less than 3% of borrowers delinquent. On a similar note, BKFS reported a fall in the foreclosure rate to 0.88% of all mortgages, which is also a multi-year low. However, considerable differences in foreclosure rates remain among U.S. states. States with a judicial foreclosure process where proceedings must go through a court still have far higher foreclosure rates; judicial states New York and New Jersey had rates over 2.5% in March per the BKFS report, while non-judicial states Colorado and California recorded foreclosure rates of 0.2% and 0.3%, respectively.
    • After falling at the end of 2016, median asking rents for two-bedroom units have risen in two straight months according to latest data from Zillow. Still, with the asking rate at $1,575 per month nationally in April, rents remain below the peak of $1,750 seen June 2014. We expect rent price increases to ease in the near term given the high number of rental units under construction (U.S. Federal Reserve data show 612.1k housing units in buildings with five or more units under construction in April, the highest total since late 1974).
    • However, despite the large number of apartments approaching completion, upward pressure on rental prices should continue due to persistent tightness and rising prices in the for-sale market. Real estate brokerage Redfin reported that housing supply edged up slightly to 3.1 months of supply nationally in April while the median sales price reached a new high of $280k. 26 of the 41 metro areas tracked by the Tides team set new highs for nominal post-recession median sales price in April.
    • The Federal Housing Finance Agency reported that the U.S. effective mortgage interest rate for loans closed decreased to 4.1% in April after peaking at 4.4% in February. As such, mortgage interest rates are higher than the recent low of 3.72% seen just prior to the presidential election, though rates remain favorable when compared to the historical norm.
    • Single-family housing permits rose sharply in March, increasing more than 30% month-over-month. The Census Bureau reports 40,100 permits approved across the 41 metro areas we track, which is the highest total since June 2006. Multi-family permit approvals increased in March, but the six-month moving average fell to 23,900 permits per month.

Highlighting the Ten Healthiest U.S. Housing Markets – June 2017

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media that delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.

Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

For deeper insights into the Housing Tides Index, read our most recent blog discussing the indicators which are necessary to assessing market health.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind.For further information, please visit housingtides.com and connect on Twitter, Facebook and LinkedIn.

Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/05/prweb14316184.htm

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Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

Housing Tides Index™ May 2017 – Housing Health Falls for Second Straight Month as Supply Decreases Further

FOR IMMEDIATE RELEASE

U.S. housing and homebuilding market health declined again as the Housing Tides Index™ fell to 71.7 in May from 72.4 in April. The Index still indicates improved conditions from its year-ago value of 70.5.

May 11, 2017, DENVER – This week marks the release of the May Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. The Index value suggests that market health remains on solid ground despite the persistent mismatch between housing supply and demand.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – May 2017

    • The fall in housing supply constituted the biggest movement among Index variables this month, as Redfin reported a decrease to just 2.9 months of supply at the current sales rate. This is tied with December 2016 for the tightest supply of housing on record since Redfin data began in 2010. Note that although the total number of homes listed for sale improved to 707k month-over-month, this increase was outpaced by a sharp increase in the rate of sales, pushing the months-of-supply measure lower. Substantial variation across local markets remains, but 40 of the 41 metropolitan areas tracked by Housing Tides show less than six months of supply, which is widely agreed upon as a healthy, balanced level.
    • Last month we highlighted the construction unemployment rate which had reached a 22-month high of 9.4% in January. As expected, latest data from the Bureau of Labor Statistics show industry unemployment dropped to 8.8% in February as homebuilders ramped up operations to begin the warm-weather construction season. The improvement in this metric partially offsets the negative effect of the decrease in housing supply on the Index.
    • Zillow reported a fall in asking rents for two-bedroom units to $1,500 per month in February, and January’s figure was upwardly revised to $1,545 per month. Census data show rental vacancy remained near 7% in the first quarter, suggesting stability in rental prices in coming months. Availability of rental units and moderating rent costs are beneficial to prospective homebuyers that have been deterred by tight housing supply and rising home prices in recent years.
    • The median home sales price increased to $273k in March, up 4.5% month-over-month. The median sales price has increased 7.5% since March 2016, though home prices remain lower than the peak of $277k seen in June 2016. Extreme tightness in housing supply should continue this trend in the near future, and we wouldn’t be surprised to see home prices surpass last year’s peak as the summer proceeds.
    • The Consumer Confidence Index fell to 120.3 from its multi-year high of 124.9 in March, but the current level continues to indicate considerably optimistic consumer outlook in historical context. In a press release The Conference Board explained that “Looking ahead, consumers were somewhat less optimistic about the short-term outlook for business conditions, employment, and income prospects. Despite April’s decline, consumers remain confident that the economy will continue to expand in the months ahead.”
    • Single-family housing permits rose sharply in March, increasing more than 30% month-over-month. The Census Bureau reports 40,100 permits approved across the 41 metro areas we track, which is the highest total since June 2006. Multi-family permit approvals increased in March, but the six-month moving average fell to 23,900 permits per month.

Highlighting the Ten Healthiest U.S. Housing Markets – May 2017

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media that delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.
Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind. More information is available at https://www.housingtides.com.
Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/05/prweb14316184.htm

###

Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

Housing Tides Index™ April 2017 – Market Health Falls with Rise in Construction Sector Unemployment

FOR IMMEDIATE RELEASE

The Housing Tides Index™ fell to 72.4 in April, down 1.1 points from March. April’s score is the lowest Index value in the past six months, though only 0.1 point lower than April of 2016.

April 13, 2017, DENVER – This week marks the release of the April Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. At 72.4, the Index shows the U.S. housing market remains strong even with a rise in the construction sector unemployment rate and tight housing supply.

Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – April 2017

    • The construction unemployment rate rose to 9.4% in January, up considerably from a 4.5% rate in June 2016. It’s difficult to reconcile the reported construction unemployment rate with the tales of labor scarcity coming from the industry in recent years, though part of the disconnect may be due to the grouping of workers into the larger construction supersector; for instance, there may be a relative surplus of unskilled laborers and a simultaneous shortage of skilled tradespersons, a distinction that isn’t made in the overall rate.
    • Median asking rents for two-bedroom units increased nationally in January to $1,536 per month, contributing in part to the fall in this month’s Index value. Moreover, asking rents increased in 37 of the 41 major metropolitan areas covered by Housing Tides.
    • Housing inventory remains below our healthy target of six months of supply, and with only 678k homes on the market in February this represents just four months of supply at the current sales rate. For-sale inventory is down 12.9% from February 2016 when there were over 100k more homes on the market.
    • The U.S. unemployment rate fell to 4.9% in February after increasing to 5.1% in January. We interpret this level of unemployment as balanced between supporting wage growth while enabling employers to find needed workers.

Highlighting the Ten Healthiest U.S. Housing Markets – April 2017

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media that delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.
Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind. More information is available at https://www.housingtides.com.
Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/03/prweb14132231.htm

###

Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

Housing Tides Index™ March 2017 – Market Health Increases in 33 of the Top 41 Local U.S. Markets

FOR IMMEDIATE RELEASE

Housing Tides Index™ reveals that the U.S. housing and homebuilding industry resumed its strengthening trend with the Index increasing to a vlaue of 73.6, after falling slightly to 72.4 in February. 

March 10, 2017, DENVER – This week marks the release of the March Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. The U.S. housing market remains in healthy territory as purchase and rental affordability improve marginally despite a drop in the number of homes for sale.
Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – March 2017

  • The Housing Tides Index increased from 72.4 in February to 73.6 in March as the U.S. housing and homebuilding industry resumed its strengthening trend. The Index scores increased in 33 of the top 41 local markets this month.
  • The construction unemployment rate increased from 5.7% in November to 7.4% in December. While this is higher than our designated “healthy” range, readers should remember that unemployment rates vary seasonally and homebuilders have often pointed to labor scarcity as an obstacle to increasing construction volume.
  • Housing supply improved markedly, rising from 2.9 months of supply in November to 3.9 in December. However, it’s important to note that this supply increase is due to a large decrease in home sales while for-sale inventory simultaneously fell to its lowest level since December 2013.
  • Also contributing to the increase in the Housing Tides Index, U.S. rent prices reversed course and fell in December. The median asking rent for two-bedroom units decreased from $1,630 in November to $1,500 in January.
  • Mortgage foreclosure rates continued to decline in December, with latest data showing that just 0.9% of all homes with a mortgage are in foreclosure. The mortgage foreclosure rate is down from 1.37% in December 2015.

 

Highlighting the Ten Healthiest U.S. Housing Markets – March 2017

 

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media that delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.
Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced and reliable than any other report of its kind. More information is available at https://www.housingtides.com.
Housing Tides is proudly partnered with IBM Watson®.
###

Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

2017 HousingWire Tech100 Winner: Housing Tides™

FOR IMMEDIATE RELEASE

Housing Tides is proud to be listed as one of the most innovative technology companies in housing, contributing to the innovation this industry needs to do its most important job: supporting the American Dream.

March 6, 2017, DENVER “The companies that make up the 2017 HW TECH100™ are the cream of the crop of the entire housing industry, from real estate to mortgage lending, servicing, and investment,” said HousingWire Senior Financial Reporter Ben Lane. “These companies aren’t just taking part in the housing industry’s technological revolution; they’re leading it.”

Housing Tides is a comprehensive, objective report that synthesizes all of the existing perspectives, predictions and views into one convenient source, enabling efficient, data-based decisions through four powerful components: Market Specific Building Permit Forecasts (Top 41 Metros), Housing Tides Index™, Housing Tides Forecaster Report Card™, Housing Media Analysis, Using IBM Watson® Natural Language Processing. Each component provides its own unique insights to the U.S. homebuilding market as well as adding context to the other components. Collectively, the components are a powerful guide to better understanding the market.

Housing Tides uses machine learning to comprehensively aggregate and analyze the housing media.

As an IBM Watson partner, Housing Tides uses a mix of natural language processing, natural language classification and sentiment analysis to gain insight into the overall direction and sentiment of housing media.

Using IBM Watson tools, Housing Tides not only captures all relevant news flow, but analyzes it for sentiment on a positive to negative scale. This enables Housing Tides to discern overall sentiment movement as well as sentiment by media source, author and other perspectives.

Additionally, Housing Tides uses machine learning to identify and capture forecasts made across the media sources it aggregates.

“The companies in the 2017 HW Tech100 cover the entire mortgage finance spectrum. There’s hardly a corner of our industry that hasn’t been transformed in some way, either by fintech startups focusing on a specific software need or legacy companies evolving to compete in the new environment,” said HousingWire Magazine Editor Sarah Wheeler. “Now more than ever, these companies are delivering the innovation this industry needs to do its most important job: supporting the American Dream.”

Tides was developed by EnergyLogic, Inc., a Berthoud, Colorado-based software and building consulting company. EnergyLogic’s data-driven philosophy and its deep expertise in, and insight into, housing drove it to develop the report as a solution to its clients’ need for better, higher resolution data about the home building industry.

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media that delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.
Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced, and reliable than any other report of its kind. More information is available at https://www.housingtides.com.
Housing Tides is proudly partnered with IBM Watson®.

For the original version on PRWeb visit: http://www.prweb.com/releases/2017/03/prweb14132231.htm

###

Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

Housing Tides Index™ February 2017 – Market Health Decreases in 30 of the Top 41 Local U.S. Markets

FOR IMMEDIATE RELEASE

Housing Tides Index™ reveals a decline as U.S. housing homebuilding markets weaken slightly with supply shortfall

Feb. 16, 2017, DENVER – This week marks the release of the February Housing Tides Report™, featuring an update to the Housing Tides Index™, an objective and sophisticated approach to quantifying and comparing the health of U.S. housing markets. Analysis of economic indicators comprising the Index reveals that while the national housing market is healthy when viewed in historical context, the shortage of homes for sale continues to present an obstacle.
Understanding the health of a housing market and its relationship to other top markets requires an aggregated, comprehensive view of the industry. The Housing Tides Index provides a succinct monthly measure of market health across the top 41 U.S. markets. Referencing 18 market indicators ranging from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, the Tides Index helps users understand exposure at a deeper level than is currently possible.

National Housing Tides Index Summary – February 2017

  • The U.S. housing industry weakened slightly this month as the Housing Tides Index decreased to 72.4 in February from 73.1 in January. The February Index value is down from 73.4 one year ago.
  • The Housing Tides Index values decreased in 30 of the top 41 local markets this month.
  • Much of the decrease in the Index is due to worsening of housing supply, which was already constrained. Nationally, housing inventory fell to 2.9 months of supply in December per latest data from real estate brokerage Redfin.
  • It’s important to recognize that significant geographic differences in housing supply remain; for example, Seattle and San Jose currently have less than one month of supply while Fort Myers and Miami have 5.1 and 6.7 months of supply, respectively.
  • U.S. rent prices increased further in November according to Zillow, with the median list price for a two-bedroom unit rising to $1,635 per month. The U.S. rental vacancy rate rose one-tenth of one percent to 6.9% in Q4 2016 per recent published data from the Census Bureau.
  • Data from the Federal Housing Finance Agency show that effective mortgage rates rose to 3.99% in December after the Federal Reserve decided to hike the target federal funds rate by 0.25 percentage points at the December, 2016 meeting.
  • Homebuilder sentiment improved in December as the NAHB & Wells Fargo Housing Market Index survey of builders rose to a value of 69. This is substantially higher than the neutral Index value of 50 and is the most optimistic reading of homebuilder sentiment since July, 2005.

 

Highlighting the Ten Healthiest U.S. Housing Markets – February 2017

Click here to view the complete Housing Tides Index of the top 41 U.S. markets.

Media Exclusive! Housing Tides Media Monthly Pulse.

An email service exclusively created for media that delivers an updated infographic depicting the latest monthly Housing Tides Index, the complete Index as it appears in the Housing Tides Report™, and a brief executive summary. All content can be shared in print and digital publications, with attribution to the Housing Tides Report.
Members of the media can subscribe to the Housing Tides Media Monthly Pulse here.

About Housing Tides

Housing Tides™ (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced and reliable than any other report of its kind. More information is available at https://www.housingtides.com.
Housing Tides is proudly partnered with IBM Watson®.
###

Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

sharpspring-automate-email-headerartboard-1

First-ever Monthly Report to Offer Comprehensive Look at U.S. Housing Market  Now Commercially Available

FOR IMMEDIATE RELEASE

‘Housing Tides’ Delivers City-specific Updates when Housing Market Conditions Change

Nov. 1, 2016, DENVER – It is easy today to be overwhelmed by the vast amount of information published about the U.S. housing market, and to make inaccurate assumptions about market activity based on the wildly divergent views and forecasts published in the media. A new report called Housing Tides is the first of its kind to deliver complete, in-depth, balanced information about the housing and home building market. With Tides, financial advisors, mortgage lenders, product manufacturers, home builders and others will now be better informed, better prepared to respond to changing market conditions, and able to make smarter investment decisions.

As the only monthly report to provide a comprehensive measure and aggregated understanding of the state of housing and home construction across the top 41 U.S. markets, Tides collects, analyzes and synthesizes all of the existing perspectives, predictions and views into one convenient source. Delivered to subscribers every month, Tides features a monthly permit forecast, a housing media summary, a forecaster report card, and an index containing country-wide trending information and comparative market analysis. Clients cut through the clutter of information published about the industry, saving frustration and time, and are able to come to their own conclusions about market health.

Referencing 18 market indicators that range from unemployment rates and housing permits to rental vacancy and mortgage foreclosure rates, Tides provides a comprehensive view of the industry. The report also offers transparency in its own historical accuracy and the accuracy of other published forecasts, making it a reliable source of comparative information across time and creating accountability for reporting accuracy.

Tides was developed by EnergyLogic Inc., a Berthoud, Colorado-based software and building consulting company. EnergyLogic’s data-driven philosophy and its deep expertise in, and insight into, housing drove it to develop the report as a solution to its clients’ need for better, higher resolution data about the home building industry.

One client who has already benefited from Tides’ sophisticated aggregation and analysis technologies is Cal Trumbo, managing partner with Momentum Innovation Group.

“What sets the Housing Tides Report apart is the use of IBM’s Watson technology to analyze every media source reporting on the state of construction to provide a detailed sentiment of the industry,” said Trumbo. “As an innovation consulting group, we make a living helping our customers stay in front of their competition and stay ahead of the construction market. We will use the Tides Report to track current trends that allow us to help customers skate to where the puck is going to be – and see the changes coming before anyone else.”

Those interested in learning more about and subscribing to Tides may visit www.housingtides.com.

About Housing Tides

Housing Tides (“Tides”) is the only monthly report that provides a comprehensive measure and aggregated understanding of the health of the U.S. housing and home building industry. Designed to take the guesswork out of the vast amount of forecasting information published about this sector, Tides is a sophisticated report that delivers city-specific, updated information when market conditions change. It is the only report that uses natural language processing and machine learning to correctly understand and synthesize large volumes of data, making it more comprehensive, balanced and reliable than any other report of its kind. More information is available at www.housingtides.com.

 

About EnergyLogic

Berthoud, Colo.-based EnergyLogic is a software and building consulting company that provides expert resources, education and support to new home builders and energy raters involved in the construction of high‐performance homes. EnergyLogic serves as a resource to other organizations that are influential in creating energy efficient housing across America, and also built the system that analyzes and detects fraud in all of the country’s residential energy ratings. More information may be found at www.nrglogic.com.

About IBM Watson: Pioneering a New Era of Computing 

Watson represents a new era in computing called cognitive computing, where systems understand the world the way humans do: through senses, learning, and experience. Watson continuously learns from previous interactions, gaining in value and knowledge over time. With the help of Watson, organizations are harnessing the power of cognitive computing to transform industries, help professionals do their jobs better, and solve important challenges.

As part of IBM’s strategy to accelerate the growth of cognitive computing, Watson is open to the world, allowing a growing community of developers, students, entrepreneurs and tech enthusiasts to easily tap into the most advanced and diverse cognitive computing platform available today. Watson solutions are being built, used and deployed in more than 45 countries and across 20 different industries.

For more information on IBM Watson, visit ibm.com/Watson. Join the conversation at #ibmwatson.

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Media Contact:

Hannah Finch
970-556-0203
hannah.finch[at]housingtides.com

IBM External Relations
Nancy Ngo
nngo[at]us.ibm.com