Trend Watch: Housing Market.

With the help of our friends at Hanley Wood Market Intelligence, NES helps you keep track of the ever-changing economy. 

Housing Supply
Rental vacancy rates increased slightly to 9.6% this quarter, while vacancy rates for homeowner units increased marginally to 2.2% in the second quarter. > MORE

Housing Demand
In the second quarter of 2006, the national homeownership rate increased slightly to 68.7 %. National homeownership continues to remain at a high level following the housing boom of the past several years boosted by historically low mortgage rates. > MORE

Existing Home Market
In September 2006, the median sales price of an existing home decreased to $220,000 from $224,000 in August. That is a 1.79% decline from last month and prices have declined 2.22% from September of last year. Median existing home prices had not experienced an annual decline in value since April 1995 until last month. > MORE

New Home Market
The median price for a new home in August increased to $237,000 from $230,000 in July. Although new home prices increased 3.0% from the last month and are at their highest levels since April, year-over-year prices in August fell for the first time since December 2003. On a year-over-year basis, the median price for a new home is down 1.3% from last August and 8.7% higher than the $218,100 median price recorded in August 2004. > MORE