The National Association of Homebuilders released its recent results for the month of January 2020. The housing market index (HMI) came in at 75; this compares with the reported index for December of 76. The difference of one single point in the course of the market does not represent a dip in the housing market since the HMI for January 2019 was 58, representing a 29% increase year-to-year. 
The components for the housing market index include single-family sales. Single family sales year after year show a similar strong demand for housing. The January 2019 HMI for single-family homes with 64 while the January 2020 single-family sales index was 81. This Improvement comes in at 27% year of the year.
What is most encouraging is the traffic of prospective buyer category which in January 2019 was posted at 44 and for January 2020 came in at 58, representing a 32% jump in buyers.
Regionally the HMI for the Northeast showed significant increase year-over-year. The January HMI for 2019 was 47 while the January 2020 HMI was 62. This represents a 32% improvement year-over-year.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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