Arizona Mortgage Lenders Association
“The Challenge Ahead: Navigating a Changing Landscape” — this year’s Annual Conference Theme Join us back at the awesome Surf & Sand in Laguna Beach to hear great speakers and network with your industry peers! Thank You to Class Valuation for being our Title Sponsor! (more…)
If you missed last summer’s first ever AMLA game night, you missed a GOOD TIME! This year, we will have more games for you to play Your registration cost includes wine, beer, soda, water, snacks AND of course the Games! More details to follow! (more…)
This 8 hour continuing education class, required by NMLS for loan originators, includes the 1 hour of Arizona Law. The instructor will be Mary Kay Scully, National Trainer for Enact. Price includes morning coffee sponsored by Norris Property Consultants, a buffet lunch, training materials and uploading fees to NMLS. Registration starts at 7:30am — the (more…)
It wouldn’t be August without our annual Happy Hour at the Blue Martini sponsored by Toro Insurance. Your price includes 2 drink tickets and plenty of appetizers. (more…)
It only happens once a year — a meeting of minds from the Arizona Association of Realtors, the Arizona Escrow Association, and the Arizona Mortgage Lenders Association. Look for more information soon. You will be registering through the AAR Website (more…)
AMLA is excited to be celebrating it’s 65th anniversary! To thank our members, every member company is entitled one free ticket to this special event. Our group will be in the “Bizarre and Beautiful” gallery, where you will be enjoy many exhibits, while enjoying an open bar and appetizers. (more…)
Warmer and longer days are brightening our surroundings and maycontribute to a rosier outlook for housing.
So let's put our troubles behind us (for at least one issue of the CapitalCommentary) and laissez le bon temps rouler!
1-Big Thing: Housing's Looking Up!
Is the worst of housing's downturn behind us?
Why it matters: Builder and buyer sentiments are critical componentsof a vibrant housing market and both are looking up these days.
As the chart below indicates, the Housing Market Index, a monthly calculation of home builder sentiment, shows rising optimism for three consecutive months. It is now at its highest point in six months.
Source: National Association of Home Builders/Wells Fargo
Bloomberg News touted: "Housing Is Suddenly a Bright Spot in theEconomy."
What they're saying:
"After bottoming in November, single-family housing starts havepicked up a bit — not the surge we saw in mid-2020, but another sign that builders feel like they are in a position to continue building in the current market rather than pulling back even more." - Conor Sen, Bloomberg News.
Reviewing the state of the nation's housing economy in a recent weekly Housing and Mortgage Market Review (HaMMR) Digest, ArchCapital Group's Global Chief Economist Parker Ross, wrote:
"The share of homes selling within two weeks has climbed to 46%,6 percentage points above the typical pre-pandemic level for this time of year. Competition has pushed prices up on a seasonally adjusted basis since the end of 2022, with annualized price growth now well into the double digits."
The bottom line: The rising optimism among home builders and faster-selling homes suggests that the worst of housing's downturn may be behind us.
2. Chart of the Week - Home Prices Up
Source: Lance Lambert, Fortune Magazine
Back in the bleaker housing days of last fall, home prices were declining in most markets. Despite the Federal Reserve continually raising interest rates over the past 12 months, more than 70% of markets showed home prices rising in March.
3. Millennials Move from Rent to Own
