The economy is doing better—but is the single housing industry as well? Peter Muoio, head of research at Auction.com, talks to MHN about housing demand and his predictions for multifamily.
MHN: Auction.com recently released several housing reports. What were some of the findings?
Muoio: We reacted in our blog post to three releases regarding the single-family sector: two were on the price side—the Case Shiller and the FHFA Index—and the other was on new homes sales. Together they painted a similar story to what we had been seeing, and a similar story to what we had been expecting, which is continued recovery for single-family housing. On the price side, what we would suggest is a long, moderate improvement. And that [trend] continued with both the data from the FHFA and Case Shiller for the fourth quarter, confirming very similar movements in previous data for home prices that we had seen from both the National Association of Realtors and from Zillow.
Read more...MHN Interview: The State of the Housing Industry | Multi-Housing News Online