Real Estate Information Archive

     Construction spending in the U.S. unexpectedly increased in June, boosted by gains in government programs that made up for declines in private residential and commercial projects.  The 0.1 percent increase in outlays followed a revised 1 percent drop in May that was larger than previously estimated, figures from the Commerce Department showed today in Washington. Homebuilding and sales are falling after the expiration of a government tax credit that boosted builder sentiment and brought starts to the highest level in more than a year in April. Demand will now depend on the state of the labor market and foreclosures.
 
Economists forecast construction spending would decline 0.5 percent, according to the median of 52 projections in a Bloomberg News survey. Estimates ranged from a drop of 2.1 percent to a 0.5 percent gain. Construction spending decreased 7.9 percent in the 12 months ended in June.

According to major home pricing sources, home pricing nation wide are gathering strength.  no big surges but, at least prices are showing strength in the last 2 quarters.  It is one thing to show movement nation wide but, we here on the firing line have seen strength in our personal businesses  in our Lake Tahoe, Truckee communities.

Data through May 2010, released by Standard & Poor's for its S&P/Case-Shiller Home Price Indices show that the annual growth rates in 15 of the 20 MSAs and the 10- and 20-City Composites improved in May compared to those reported for April 2010.
 
The 10-City Composite is up 5.4% and the 20-City Composite is up 4.6% from where they were in May 2009. While 19 MSAs and both Composites reported positive monthly changes in May over April, only 12 of the MSAs and the two Composites saw better month-over-month growth rates in May than those reported in April.
 
While still positive, Boston, Charlotte, Cleveland, Dallas and Denver reported weaker annual growth rates compared to their reports from last month. Seven of the 20 MSAs are still reporting negative annual growth rates with May's data.

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

Some thoughts on buying lakefront property. Your comments are appreciate!

Kane Schaller

530-550-5009

Kane@schallers.net