Share Save Homebuilders Housing Starts Leading Market Index National Association of Homebuilders 2014-11-07 Scott Morgan Sign up for DS News Daily Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Report: Housing Market Not Completely Back, But Getting Closer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Homebuilders Housing Starts Leading Market Index National Association of Homebuilders Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Servicers Navigate the Post-Pandemic World 2 days ago Print This Post November 7, 2014 1,135 Views Home / Daily Dose / Report: Housing Market Not Completely Back, But Getting Closer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News The National Association of Home Builders (NAHB) released its Q3 Leading Markets Index (LMI) report Thursday, and the verdict is: National housing recovery is getting there, slowly but surely.For months, NAHB has been reporting that recovery in the national and in most metro markets is inching its way back to normal levels. The latest report virtually mirrors the LMI report released in August, which stated that 56 of 350 metros were at or better than normal, and the national housing market overall was 89 percent of where it should be.Now, those numbers are 59 out of 350 and 90 percent nationwide. Year over year, this is an additional seven metros at or better than normal and an improvement in 66 percent of all markets compared to Q3 of 2013.The LMI looks at average permit, price, and employment data over a 12-month period, then divides each by their annual averages over the last period of normal growth. For single-family permits and home prices, 2003 is considered the last normal year; for employment, 2007.As it has this whole year, Baton Rouge, Louisiana, tops the list of major metros on the LMI. Baton Rouge, according to NAHB, is 39 percent better than its last normal market level a decade ago. Other major metros doing far better than what would be considered normal include Austin, Honolulu, Oklahoma City, Houston, Los Angeles, San Jose, Salt Lake City, New Orleans, and Charleston.Some smaller metros are doing even better. Midland and Odessa, Texas, for example, are twice as strong as they were before the recession. Grand Forks and Bismarck, North Dakota; and Casper, Wyoming, are also doing far better now than they were 10 years ago.For markets not all the way back, things are nevertheless up.”Nearly half of all the markets on the Leading Markets Index are up since August, which is a good sign that the ongoing housing recovery will keep moving forward in 2015,” said Kurt Pfotenhauer, vice chairman of First American Title Insurance Company, which co-sponsors the LMI report.According to NAHB chairman Kevin Kelly, markets are recovering at a slow, gradual pace, and continued job creation, economic growth and increasing consumer confidence “should help spur pent-up demand for housing.”Where there is room for improvement is in the area of permits for new construction.”An uptick in the number of single-family permits, which is currently only 44 percent of normal activity, is the key to a full-fledged housing recovery,” said David Crowe, NAHB’s chief economist. “In the 17 metros where permits are at or above normal, the overall index shows that these markets have fully recovered.” The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Republicans Expected to Use New Majority Power to Push for CFPB Reform Next: DS News Webcast: Monday 11/9/2014 Servicers Navigate the Post-Pandemic World 2 days ago About Author: Scott Morgan Subscribe
Newsroom GuidelinesNews TipsContact UsReport an Error In late April, Sterling’s racist comments — including ones specifically naming Johnson — were published on TMZ, prompting the NBA to ban the longtime franchise owner for life. On Monday, Judge Michael Levanas ruled heavily in Shelly Sterling’s favor, allowing her to complete the record sale to former Microsoft CEO Steve Ballmer.It’s not quite over. Donald Sterling’s attorneys still have 10 days to file objections. Even after the ruling is finalized, they can file a writ contesting a specific portion of the ruling. Sterling also has another lawsuit pending in federal court.Still, an end is at least in sight.Perhaps no one was happier than Clipper Darrell, who declared in a phone interview Tuesday “a new era in NBA Clipper basketball!” For years, Darrell Bailey has held the de facto role of the Clippers’ biggest fan, dressing up in his half-red, half-blue suit and cheering from the same spot in Staples Center: Section 107, Row 9, Seat 21. Hearing Sterling’s comments and watching him fight to keep the team was, he said, “like a stab in the heart.”Bailey had been sitting on his couch busy with work Monday afternoon when news of the ruling popped up on his Twitter feed. He turned on his TV and rejoiced.“It’s a beautiful thing,” he said. “Now we can move on. We can forget about the past and move on to the future.”Asked where the ruling stands among his most memorable moments as a fan, Bailey demurred. He tried to divorce the last three months from what he wanted to focus on: the basketball.Los Angeles Mayor Eric Garcetti has been a vocal proponent of seeing the Clippers sold, and has repeatedly said the team needs an owner that reflects the “values” of Los Angeles .On Tuesday, the mayor said in a statement that he “hopes to see a swift change in ownership” and that he looks forward to working with Ballmer.“Clippers fans want the action to be on the court, not in the courtroom,” said Garcetti, who met with Ballmer at City Hall in May, the day after the former Microsoft executive signed a deal to buy the team.Los Angeles City Council President Herb Wesson said in a statement he was glad the court was able to render a decision so quickly. “The Clipper franchise and the City of L.A. will now get a fresh start, and an opportunity to put this sad chapter behind us, and that’s a good thing,” Wesson said.The public sale agreement with Ballmer includes numerous perks for Shelly Sterling, including a pair of courtside seats and the lifetime title of “Clipper’s Number 1 Fan.”Bailey said he didn’t mind. “The fans know, the public knows, everybody knows,” he said. “You can’t name yourself that. You’ve got to be that. People know. It doesn’t bother me one bit. I wish her the best.”But not everyone was pleased this week that Shelly Sterling could continue to have involvement with the Clippers.Los Angeles-based housing rights advocate Larry Gross is critical of Donald and Shelly’s record on housing rights issues, and allegations of racism by Shelly, which her lawyers have denied. After Monday’s court verdict, Gross took to Twitter to complain the judge’s decision isn’t a “total Sterling exorcism.”“If Shelly Sterling is involved, players, (Coach Doc) Rivers, & fans should still shun team,” wrote Gross, the executive director for the Coalition for Economic Survival.Others were more forgiving.“The more the merrier,” Bailey said. “I welcome her with open arms.”Staff reporters Dakota Smith, Jill Painter and Thuc Nhi Nguyen contributed to this story. At a Lakers’ press conference introducing its new head coach Tuesday, team legend Magic Johnson was asked about — of all things — the Clippers.“What’s my reaction to the Sterling ruling?” he responded.And then he smiled.The NBA Hall of Famer was at ground zero of the Donald Sterling saga, one near a potential end Monday when a judge’s tentative ruling cleared the way for the Clippers’ $2 billion sale.