Skip to main content

U. S. Housing Market Conditions, 1st Quarter 2010

HUD.GOV HUDUser.gov
eList
HUDUSERNEWS
HUD USER eList
22 June 2010    
eList banner
cell background cell background
U. S. Housing Market Conditions,
1st Quarter 2010
USHMC 1st Quarter 2010HUD's Office of Policy Development and Research (PD&R) has released the first quarter of 2010 U.S. Housing Market Conditions report with updates of production, marketing, and multifamily sector indictors. It also includes the latest quarterly data on housing affordability, homeownership, and foreclosures. In addition to the quarterly data, the report includes comparisons with the first quarter of 2009, profiles of economic and housing market activity in each of HUD's 10 regions, and updates of historical trends in national and regional housing markets.
This quarter's feature article explores the availability of new data for Low Income Housing Tax Credit projects.
Download or order free print copies by phone at 800–245–2691, option 1.
Download Report
cell background cell background
Follow us on:
Facebook and twitter icons
cell background
line
Key Findings

  • Single-family housing permits and starts rose 9% from the previous quarter, the fourth successive improvement after 14 consecutive quarters of decline.


  • Completions of single-family homes fell 12% from the previous quarter, likely because of unusually cold weather.


  • Manufactured housing reversed a downward trend that began after the hurricane-induced sales increases of late 2005.


  • New home sales were down 4% from last quarter, while existing home sales dropped 14%. Distressed sales (foreclosures and short sales) represented 36% of all home sales.


  • New homebuyers accounted for 42% of all home sales.


  • Housing affordability rose 3% since the last quarter of 2009. This is attributed to a 2% decrease in the median price of existing single-family homes and a 0.4% rise in median family income, both of which offset a 3-basis-point increase in mortgage interest rates.


  • Homeownership rates for the nation and for minorities declined, reflecting the subprime lending crisis, high rates of unemployment, and the recession.


  • When compared with the last quarter of 2009, the multifamily (five or more units) housing sector improved.


  • The housing sector component of GDP (residential fixed investment) declined 10.9%, compared with a 3.8% increase in the previous quarter.



    • line
    PD&R Newsletters  PD&R Research PD&R Data sets   

    You were sent this HUD USER News update because you expressed interest in receiving a weekly email to stay informed of new HUD research and resources. If you no longer wish to receive this email, please send an email to hudusernews@huduser.gov with "unsubscribe" as the SUBJECT.

    HUD USER HUD USER
    P.O. Box 23268, Washington, DC 20026-3268
    1-800-245-2691 | 1-800-927-7589 (TDD) | 202-708-9981 (fax)
    PD&R

     

    eList Archives