Today's Numbers: Architecture Billings, Calif. Defaults, Hamptons Home Prices...

Consecutive months that architecture billings have risen: 5

From the American Institute of Architects:

"Business conditions at architecture firms continue to improve. As a leading economic indicator of construction activity, the Architecture Billings Index (ABI) reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the December ABI score was 52.0, down from the mark of 53.2 in November.  This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings)."

Calif. homes to receive Notices of Default, 4Q 2012: 38,212

That's a six-year low which hasn't been seen since the dawn of the foreclosure crisis. From Mortgage News Daily:

"DataQuick attributed the decline in early foreclosure filing to rising home values, an improving economy, and a shift toward short sales which accounted for an estimated 26 percent of statewide resale activity in the fourth quarter.  The median price paid for a home during the quarter was $300,000, up 22.4 percent from a year ago and 32.2 percent off the median's $227,000 bottom in first-quarter 2009.

"Home values increased through most of 2012, and the rate of increase picked up toward the end of the year. That means fewer and fewer homeowners are underwater, where they owe more than their homes are worth. That in turn means they can sell and pay off the mortgage, or perhaps refinance at today's low interest rates."

U.S. union membership in 2012: 14.3 million

From the New York Times:

"The percentage of workers in unions fell to 11.3 percent, down from 11.8 percent in 2011, the bureau found in its annual report on union membership. That brought unionization to its lowest level since 1916, when it was 11.2 percent, according to a study by two Rutgers economists, Leo Troy and Neil Sheflin. 

"Labor specialists cited several reasons for the steep one-year decline in union membership. Among the factors were new laws that rolled back the power of unions in Wisconsin, Indiana and other states, the continued expansion by manufacturers like Boeing and Volkswagen in nonunion states and the growth of sectors like retail and restaurants, where unions have little presence."

Average home price in New York's Hamptons: $2.13 million

From Bloomberg:






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Housing on the Comeback Trail (So They Say)

Remodeling has been the little housing engine that never konked out entirely, even during the darkest days of the recession. And now, supported by stocks closing Friday at their highest level in five years, remodeling and new construction alike are expected to get even stronger in 2013, a number of sources have written.

At Bloomberg, there's this from John Gittelsohn:

"U.S. home sales and prices are poised to rise in 2013, solidifying a recovery that began last year after a  half-decade slump that was the deepest since the Great Depression.... Record-low mortgage rates and attractive prices, supported by declining unemployment, are luring buyers as the inventory of distressed homes shrinks. Homebuilders are responding by adding supply, bolstering economic growth."

More at "Housing a Sweet Spot for U.S. Economy as Recovery Expands" 

At The Washington Post, Moody's Analytics' Mark Zandi published this on Saturday:

"A housing renaissance has begun. This may be hard to believe after the dizzying, six-year-long crash in home sales, construction and house prices. But housing turned the corner last year, and it will take off in 2013....

"Buying a home wouldn't make much sense if house prices were likely to decline further; no one wants to catch a falling knife. But it seems increasingly likely that prices will rise. No one should expect the value of their house to appreciate quickly -- counting on your home to be a significant part of your retirement saving isn't a winning strategy -- but it is reasonable to expect that prices generally will rise with at least the rate of inflation for some time to come."

More at "Housing's renaissance could lead an economic recovery" 

At Time, Christopher Matthews wrote this about "the great housing rebound of 2012": 

"There’s no doubt that we’re finally seeing the beginnings of what economists call a positive feedback loop when it comes to housing. Rising home prices allow lenders to be more generous with home financing, which allows even more prospective home buyers to access the market, further driving up home prices. And higher home values give consumers and builders more confidence to go out and spend money or make investments, which also stimulates the real estate market and broader economy."

More at "The Great Housing Rebound of 2012: How the Fed Helped Sellers Beat the Odds" 

What do you think, remodelers? Is housing on the comeback trail? Is your business?

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