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Just Released: U.S. Housing Market Conditions, 2nd Quarter, 2005

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HUD announces the release of its latest analysis of the
housing market, based on performance numbers covering
housing production, sales, affordability, and multi-family
(5+ units) housing production. The housing sector
continued to be a major contributor to the U.S. economy
during the second quarter of 2005. New records were set
for single-family permits, new home sales, and existing
home sales. Interest rates remained at less than six
percent, but the challenge to affordability for new
homebuyers grew. Compared to the most recent quarter, the
median sales price of an existing home rose by 10.3
percent, and was 13.7 percent higher than a year earlier.

Compared to the second quarter of 2004, permits for new
homes were up 2.1 percent; construction starts were up 4.6
percent; and new housing completions increased by 4.7
percent. Sales of existing homes and new single-family
units rose, by 4.6 percent and 10.2 percent, respectively.
Permits and new starts for multi-family units slowed after
the first quarter of 2005, but remained stronger than in
the second quarter of 2004. These data, and more, are
reported at the national and regional levels, and can be
compared to historical trends.

The latest issue of "U.S. Housing Market Conditions"
features discussions about building with new technologies,
the status of selected regional housing markets, and in-
depth housing market profiles of Boise, ID; Bremerton-
Silverdale, WA; Charlottesville, VA; Denver-Boulder, CO;
Grand Junction, CO; Hamilton-Middletown, OH; Phoenix, AZ;
St. Tammany Parish, LA; San Francisco Bay Area, CA; and
Washington, DC-MD-VA-WV. It is available online at
https://www.huduser.gov/periodicals/ushmc/summer05/USHMC_05Q2.pdf
and printed copies are available from HUD USER by calling
1-800-245-2691.


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