Housing markets continuing to improve say builders
The majority of US housing markets are showing improvement according to the National Association of Home Builders. Its Leading Markets Index produced in association with First American shows that 119 of around 340 metros have returned to, or are near, normal levels of activity.
The figures, based on permits, price and employment data for the first quarter of 2016, show that the nationwide average is at 95 per cent normal economic and housing market activity. Improvement has been recorded in 86 per cent markets in the past year.
“Housing markets continue to recover gradually, edged along by a firming economy, solid job creation and low mortgage interest rates,” said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill. “We expect the housing sector to improve at a slow, but steady pace throughout the year.”
Millennials are most likely to still be at home in this city
Mom and dad are getting to spend plenty of time with their millennial-age children, because they are still living at home. Zillow research found that more 25 to 34 year olds are living at home than at any time in the past decade.
Young Americans in Paso, Texas are the most likely to be living with mom and dad; 34 per cent of millennials in the city are still at home. Miami, LA, Philadelphia and Ventura, CA also have high proportions of reluctant-to-leave kids.
Affordability is, of course, the main reason for millennials staying in the family home; along with being able to use income to pay down student debt or save for a mortgage downpayment.
Colliers expands Florida operations
Colliers International Group has expanded its operations in Florida with the acquisition of its member-firm Colliers NE Florida. The purchase builds on the global entity’s purchase of Colliers Central Florida earlier in the year.
“We have been a proud member of Colliers International for many years, so for us becoming part of the global entity was the natural next step,” said Robert Selton, CEO of Colliers NE Florida. “By fully integrating our operations we are now able to leverage the size, capital and established infrastructure of the Colliers International global platform to better serve our clients and create more opportunities for our professionals. The future has never been brighter for our company and our people,” he concluded.