Valentine's Day Fun Facts

Expressing one's love to another is a celebrated custom on Valentine's Day. Sweethearts and family members present gifts to one another, such as cards, candy, flowers and other symbols of affection. Opinions differ as to who was the original Valentine, but the most popular theory is that he was a clergyman who was executed for secretly marrying couples in ancient Rome. In A.D. 496, Pope Gelasius I declared Feb. 14 as Valentine Day. Esther Howland, a native of Massachusetts, is given credit for selling the first mass-produced valentine cards in the 1840s. The spirit continues today with even young children exchanging valentine's cards with their fellow classmates.

Candy

1,379 Number of U.S. manufacturing establishments that produced chocolate products in 2012, employing 37,998 people. California led the nation with 152 of these establishments, followed by New York, with 119. 
Source: U.S. Census Bureau, County Business Patterns: 2012, NAICS code (31135)http://factfinder2.census.gov/bkmk/table/1.0/en/BP/2012/00A1/naics~31135

445 Number of U.S. establishments that manufactured nonchocolate confectionary products in 2012. These establishments employed 20,419 people. California led the nation in this category with 46 establishments.  
Source: U.S. Census Bureau, County Business Patterns: 2012, NAICS code (31134)  
http://factfinder2.census.gov/bkmk/table/1.0/en/BP/2012/00A1/naics~31134

$13.5 billion The estimated value of shipments in 2011 for firms producing chocolate and cocoa products.
Source: U.S. Census Bureau, 2011 Annual Survey of Manufactures, Products and Service Codes (311320 and 311330)
http://factfinder2.census.gov/bkmk/table/1.0/en/ASM/2011/31VS201//prodsvc~311320|311330

Nonchocolate confectionery product manufacturing, meanwhile, was an estimated $8.4 billion industry. 
Source: U.S. Census Bureau, 2011 Annual Survey of Manufactures, Products and Service Code (311340) 
http://factfinder2.census.gov/bkmk/table/1.0/en/ASM/2011/31VS201//prodsvc~311340

3,170Number of confectionery and nut stores in the United States in 2012. 
Source: U.S. Census Bureau, County Business Patterns, NAICS code (445292)http://factfinder2.census.gov/bkmk/table/1.0/en/BP/2012/00A1/naics~445292

Flowers

14,344 The total number of florist establishments nationwide in 2012. These businesses employed 62,397 people.  
Source: U.S. Census Bureau, County Business Patterns, NAICS code (4531) 
http://factfinder2.census.gov/bkmk/table/1.0/en/BP/2012/00A1/naics~4531

$294,730,180 The value of imports for cut flowers and buds for bouquets in 2014 through November. The total value of fresh cut roses as ofOctober 2014 was $407,807,220. 
Source: U.S. Census Bureau: Foreign Trade Division USA Trade Online U.S. Import and Export Merchandise trade (Commodity code-060319 and 060311)
https://usatrade.census.gov/

Jewelry

23,413 The estimated number of jewelry stores in the United States in 2012.  Jewelry stores offer engagement, wedding and other rings to couples of all ages. 
Sources: U.S. Census Bureau, County Business Patterns, NAICS code (448310)http://factfinder2.census.gov/bkmk/table/1.0/en/BP/2012/00A1/0100000US/naics~448310

"Please Be Mine"

29.0 and 26.6 years 
Median age at first marriage in 2013 for men and women, respectively. 
Source: U.S. Census Bureau, Families and Living Arrangements: 2013, 
http://www.census.gov/hhes/families/data/marital.html Table MS-2

52.7% The overall percentage of people 15 and older who reported being married. 
Source: U.S. Census Bureau, Families and Living Arrangements: 2013,
http://www.census.gov/hhes/families/data/cps2013A.html Table A1

68.6% Percentage of people 15 and older in 2013 who had been married at some point in their lives — either currently or formerly. 
Source: U.S. Census Bureau, Families and Living Arrangements: 2013,
http://www.census.gov/hhes/families/data/cps2013A.html Table A1

36.9              The provisional rate of marriages per 1,000 people performed in Nevada during 2011. So many couples tie the knot in the Silver State that it ranked number one nationally in marriage rates. Hawaii ranked second with a marriage rate of 17.6. 
Source: National Center for Health Statistics, 
http://www.cdc.gov/nchs/data/dvs/marriage_rates_90_95_99-11.pdf

2.1 million The provisional number of marriages that took place in the United States in 2011. That breaks down to nearly 5,800 a day.
Source: National Center for Health Statistics, 
http://www.cdc.gov/nchs/fastats/marriage-divorce.htm

74.5% 
The percentage of women who married for the first time between 1990 and 1994, who reached their 10th anniversary. This compares with 82.8 percent of women who married for the first time between 1960 and 1964. Men who married for the first time between 1990 and 1994, who reached their 10th anniversary was 77.3 percent. This compares with 83.4 percent who married for the first time between 1960 and 1964. 
Source: U.S. Census Bureau, Number, Timing, and Duration of Marriages and Divorces: 2009, 
http://www.census.gov/prod/2011pubs/p70-125.pdf Table 4

Giving Love a Second Chance

19.2% Among people 15 and older who have been married, the percentage of men and women in 2013 who have been married twice, and 5.3 percent have been married three or more times. By comparison, 75.5 percent of people who have been married have done so just once. 
Source: 2013 American Community Survey (Table B12505)http://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_13_1YR_B12505&prodType=table

8   Median length, in years, of first marriages that ended in divorce.
Source: Number, Timing, and Duration of Marriages and Divorces: 2009 http://www.census.gov/prod/2011pubs/p70-125.pdf Table 8

3.8 and 3.7 The median time in years between divorce and a second marriage for men and women, respectively. However, the two medians are not statistically different from each other.
Source: Number, Timing, and Duration of Marriages and Divorces: 2009 http://www.census.gov/prod/2011pubs/p70-125.pdf Table 8

9% and 7.9% Among people 15 and older in 2009, the percentage of men and women, respectively, who had married twice and were still married.
Source: Number, Timing, and Duration of Marriages and Divorces: 2009 http://www.census.gov/prod/2011pubs/p70-125.pdf Table 6

Looking for Love

393 The number of dating service establishments nationwide as of 2007. These establishments, which include Internet dating services, employed 3,125 people and pulled in $928 million in revenue. 
Source: U.S. Census Bureau, 2007 Economic Censushttp://factfinder2.census.gov/bkmk/table/1.0/en/ECN/2007_US/00A1//naics~8129902

Try Looking Here . . .Romantic-sounding places to spend Valentine's Day:          

Rose City, Texas 
(Population – 509)

Loveland, Colo.
(Population – 71,334)

Romeo, Colo.
(Population – 400)

Lovejoy, Ga.
(Population – 6,302)

Loves Park, Ill.
(Population – 23,703)

Lovington, Ill.
(Population – 1,116)

Romeoville, Ill.
(Population – 39,650)

Rosemont, Ill.
(Population – 4,236)

Romeo, Mich.
(Population – 3,582)

Rose City, Mich.
(Population – 640)

Darling, Minn.
(Population – 531)

Sacred Heart, Minn.
(Population  – 527)

Valentine, Neb.
(Population – 2,789)

Lovelock, Nev.
(Population – 1,958)

Loving, N.M.
(Population – 1,412)

Lovington, N.M.
(Population – 11,550)

Rosemont, Md.  
(Population – 304)                 

Love Valley, N.C.
(Population – 98)

South Heart, N.D.
(Population – 358)

Loveland, Ohio
(Population – 12,326)

Loveland Park, Ohio   
(Population – 1,523)

Love County, Okla.
(Population – 9,742)

Loveland, Okla.
(Population – 13)

Lovelady, Texas
(Population – 623)

Loving County, Texas
(Population – 95)       

Valentine, Texas
(Population – 129)

Rose Hill Acres, Texas
(Population – 445)

Source: U.S. Census Bureau, American FactFinder 
http://factfinder2.census.gov

Realtors® Support Safe Entry to Housing Market with More Affordable FHA-Backed Loans

National Association of Realtors® President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Arkansas, issued the following statement at the conclusion of today's hearing of the U.S. House Financial Services Committee, The Future of Housing in America: Oversight of the Federal Housing Administration:

"The new mortgage insurance premium reduction policy implemented last month by the Secretary of the Department of Housing and Urban Development, Julian Castro, will help more first-time borrowers achieve homeownership without increasing the risk of mortgage defaults or of another taxpayer bailout.

 
 
 

Chris Polychron, a Realtor(r) from Hot Springs, Ark., is the 2015 President of the National Association of Realtors(r). NAR, The Voice for Real...

"Realtors® support safe lending practices based on strong underwriting requirements, and the Federal Housing Administration's new prices encourage sustainable homeownership for creditworthy borrowers. FHA is not lowering its underwriting standards or luring irresponsible borrowers into homeownership, instead it is resetting its fees to appropriately balance anticipated risk while still making a profit to support its funds. 

"After four years of increases, the fees had become so expensive that last year alone, roughly 234,000 creditworthy borrowers were priced out of the market.

"For first-time buyers in particular, the premium reduction could not have come at a better time. As the cost of FHA premiums increased, the percent share of first-time buyers using FHA-backed loans shrank from 56 percent to 39 percent. Meanwhile, an NAR surveyreleased in late 2014 revealed that the annual share of first-time buyers fell to its lowest level in nearly three decades.

"The new policy lowers the cost of FHA's mortgage insurance premiums by 50 basis points, which translates into an average savings of $900 a year for future homeowners and current borrowers who refinance. NAR estimates that the reduction will price-in an additional 1.6 million to 2.1 million renters, along with many trade-up buyers, and could result in 90,000 to 140,000 additional annual home purchases.

"FHA's new pricing is not going to magically bring all of the missing millennials to the closing table, but they, and the housing market, will certainly benefit from the reduction."

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.        

Relationships Affect Homeownership, Say Realtors®

Whether married, dating or single, most Americans believe that owning a home is a good financial decision. According to a new infographic from the National Association of Realtors®, relationship status can affect when and where buyers purchase a home and how much they spend on it.

NAR analyzed the median age, income and size of home purchased for married couples, unmarried couples and single men and women; the infographic also shows the home and neighborhood features deemed most important by each group.

 
 
 

How does relationship status affect the kind of home you buy? This infographic from NAR shows how household composition can affect homeownership...

Data is from NAR's 2014 Profile of Home Buyers and Sellers, an annual report that evaluates the demographics, preferences, motivations, plans and experiences of recent home buyers and sellers.

For additional hig

Consumers' Positive Financial Attitudes a Good Sign for Housing

Consumer optimism toward the housing market gained some momentum last month following a dip in December, likely getting a boost from their increasingly positive financial outlook, according to results from Fannie Mae's January 2015 National Housing Survey™. The share of respondents who said their household income is significantly higher than it was 12 months ago rose 4 percentage points to 29 percent, and the share expecting their personal financial situation to improve over the next year increased to 48 percent – both all-time survey highs. After dropping in December, the share who said it is a good time to buy a home increased 3 percentage points to 67 percent, and the share saying they would buy rather than rent if they were to move jumped 5 percentage points to 66 percent, marking the first increase since September 2014.

"Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010, and this optimism seems to be spilling over into housing market attitudes," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "Consumers are more optimistic about the environment both for buying and for selling a home today, and the share who plan to own on their next move has jumped back up, reversing a three-month trend toward renting. These results are in line with lender optimism about future growth in their mortgage origination business, as shown in our Mortgage Lender Sentiment Survey™. Overall, these are good signs to start off 2015 and are consistent with our expectation that strengthening employment and economic activity will boost the speed of the housing recovery."

SURVEY HIGHLIGHTS

Homeownership and Renting

• The average 12-month home price change expectation rose to 2.5 percent.
• The share of respondents who say home prices will go up in the next 12 months rose to 49 percent. The share who say home prices will go down remained constant at 8 percent.
• The share of respondents who say mortgage rates will go up in the next 12 months decreased by 3 percentage points to 45 percent.
• Those who say it is a good time to buy a house increased to 67 percent. Those who say it is a good time to sell increased to 44 percent—tying an all-time survey high.
• The average 12-month rental price change expectation decreased to 3.6 percent.
• The percentage of respondents who expect home rental prices to go up in the next 12 months fell slightly to 52 percent.
• The share of respondents who think it would be easy to get a home mortgage today fell to 50 percent, while the share saying it would be difficult to get a mortgage rose 3 percentage points to 47 percent.
• The share who say they would buy if they were going to move rose to 66 percent, while the share who would rent decreased 5 percentage points to 29 percent.

The Economy and Household Finances

• The share of respondents who say the economy is on the right track increased by 3 percentage points to 44 percent.
• The percentage of respondents who expect their personal financial situation to get better over the next 12 months increased to 48 percent—an all-time survey high.
• The share of respondents who say their household income is significantly higher than it was 12 months ago rose 4 percentage points to 29 percent—an all-time survey high.
• The share of respondents who say their household expenses are significantly higher than they were 12 months increased to 35 percent.

The most detailed consumer attitudinal survey of its kind, Fannie Mae's National Housing Survey™ polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts (findings are compared to the same survey conducted monthly beginning June 2010). To reflect the growing share of households with a cell phone but no landline, the National Housing Survey has increased its cell phone dialing rate to 60 percent as of October 2014. For more information, please see the Technical Notes. Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future.

For detailed findings from the January 2015 survey, as well as technical notes on survey methodology and questions asked of respondents associated with each monthly indicator, please visit the Fannie Mae Monthly National Housing Survey page on fanniemae.com. Also available on the site are in-depth topic analyses, which provide a detailed assessment of combined data results from three monthly studies. The January 2015 National Housing Survey was conducted between January 1, 2015 and January 22, 2015. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae.

Mortgage Rates Hover at Lowest Levels Since May 2013

Mortgage rates were little changed, with the benchmark 30-year fixed mortgage rate holding at 3.80 percent, according to Bankrate.com's weekly national survey. The 30-year fixed mortgage has an average of 0.30 discount and origination points.

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/

The average 15-year fixed mortgage inched lower to 3.12 percent while the larger jumbo 30-year fixed mortgage remained at 4.02 percent. Adjustable rate mortgages moved modestly higher, with the 5-year ARM inching upward to 3.20 percent and the 7-year ARM climbing to 3.41 percent.        

Mortgage rates have entered a period of calm, remaining at the lowest levels since May 2013. Although the U.S. economy is improving, not much has changed on the global stage, with continued weakness and slower growth in both developed and emerging markets worldwide. This has helped sustain a high level of demand for the safety of U.S. Treasury securities, keeping both bond yields and mortgage rates low. Mortgage rates are closely related to yields on long-term government bonds.

One year ago, the average 30-year fixed mortgage rate was 4.43 percent. At that time, a $200,000 loan would have carried a monthly payment of $1,005.07. With the average rate now at 3.80 percent, the monthly payment for the same size loan would be $931.91, a savings of approximately $73 per month for anyone refinancing now.  

SURVEY RESULTS

30-year fixed: 3.80% -- unchanged from last week (avg. points: 0.30)

15-year fixed: 3.12% -- down from 3.13% last week (avg. points: 0.16)

5/1 ARM: 3.20% -- up from 3.19% last week (avg. points: 0.21)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com/mortgagerates

The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. There is no clear consensus among the panelists this week, with 46 percent expecting mortgage rates to remain more or less unchanged over the next week and 31 percent forecasting a decrease. The remaining 23 percent predict an increase in mortgage rates over the coming week.

For the full mortgage Rate Trend Index, go to http://www.bankrate.com/news/rate-trends/mortgage.aspx

CoreLogic Reports December 2014 Home Price Index

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its December 2014 CoreLogic Home Price Index (HPI®) which shows that home prices nationwide, including distressed sales, increased 5 percent in December 2014 compared to December 2013. This change represents 34 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, fell by 0.1 percent in December 2014 compared to November 2014.*

Twenty-seven states and the District of Columbia are at or within 10 percent of their peak. Three states showed year-over-year home price depreciation, including distressed sales, in December; these states were Maryland (-0.7 percent), Vermont (-0.9 percent) and Connecticut (-2.2 percent).

Excluding distressed sales, home prices increased 4.9 percent in December 2014 compared to December 2013 and increased 0.1 percent month over month compared to November 2014. Distressed sales include short sales and real estate owned (REO) transactions.

The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase 0.1 percent month over month from December 2014 to January 2015. Full-year 2015 (December to December) increase is projected to be 4.8 percent**. Excluding distressed sales, home prices are also expected to increase by 0.1 percent month over month from December 2014 to January 2015 and increase by 4.5 percent** year over year from December 2014 to December 2015. The CoreLogic HPI Forecast is a monthly projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“For the full year of 2014, home prices increased 7.4 percent, down from an 11.1-percent increase in 2013,” said Sam Khater, deputy chief economist at CoreLogic. “Nationally, home price growth moderated and stabilized at 5 percent the last four months of the year. The moderation can be clearly seen at the state level, with Colorado, Texas and New York at the high end of appreciation, ending the year with increases of about 8 percent.  This contrasts with previous appreciation rates in the double digits—for instance, Nevada and California which experienced increases of more than 20 percent earlier in 2014.”

“Nationally, home price appreciation took a pause in November and December 2014 and we expect a slow start to 2015,” said Anand Nallathambi, president and CEO of CoreLogic. “As the year progresses, we expect upward pressure as low inventories and more first-time buyers drive up home prices.”

Highlights as of December 2014:

• Including distressed sales, the five states with the highest home price appreciation were:  Colorado (+8.4 percent), Texas (+7.8 percent), New York (+7.6 percent), Nevada (+7.3 percent) and Michigan (+7.2 percent).
• Excluding distressed sales, the five states with the highest home price appreciation were: New York (+8.0 percent), Colorado (+7.8 percent), Massachusetts (+7.2 percent), Texas (+7.1 percent) and Nevada (+7.1 percent).
• Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to December 2014) was -13.4 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -9.6 percent.
• Including distressed sales, the five-year HPI change (from December 2009 to December 2014) was 18.9 percent.
• The five states with the largest peak-to-current declines, including distressed transactions, were: Nevada (-36 percent), Florida (-33.5 percent), Arizona (-29.5 percent), Rhode Island (-29.1 percent) and Connecticut (-25.2 percent).
• Including distressed sales, the U.S. has experienced 34 consecutive months of year-over-year increases; however, the national increase is no longer posting double-digits.
• Eighty-nine of the top 100 Core Based Statistical Areas (CBSAs) measured by population showed year-over-year increases in December 2014. The 11 CBSAs that showed year-over-year declines were: Worcester, MA-CT (-2.5 percent); Bridgeport-Stamford-Norwalk, CT (-2.3 percent); Baltimore-Columbia-Towson, MD (-1.9 percent); Memphis, TN-MS-AR (-1.1 percent); McAllen-Edinburg-Mission, TX (-1.0 percent); New Haven-Milford, CT (-0.9 percent); Little Rock-North Little Rock-Conway, AR (-0.8 percent); Winston-Salem, NC (-0.6 percent); Hartford-West Hartford-East Hartford, CT (-0.4 percent); Rochester, NY (-0.2 percent) and Wilmington, DE-MD-NJ (-0.03 percent).

*November data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.
** The forecast accuracy represents a 95-percent statistical confidence interval with a +/- 2.0 percent margin of error for the index including distressed sales and a +/- 1.9 percent margin of error for the index excluding distressed sales.

December HPI for the Country's Largest CBSAs by Population (Ranke

Texas home sales growth spikes in fourth quarter, makes 2014 the second-best year ever for Texas real estate

 The Texas housing market closed out 2014 with one of the highest fourth-quarter single-family home sales volumes in Texas real estate history, according to the 2014-Q4 Texas Quarterly Housing Report released today by the Texas Association of Realtors. Ending a year-long trend of flat annual home sales growth, the year-end increase in home sales made 2014 the second-best year ever for Texas real estate.

"While many local Texas markets saw dips in home sales volume throughout 2014, the statewide housing market continued to grow year-over-year," said Scott Kesner, chairman of the Texas Association of Realtors. "The fourth quarter of 2014 marked three-and-a-half years of continual home sales growth for the Lone Star State and the highest annual home sales volume since 2006 - a testament to the strong and enduring demand of Texas real estate."

According to the 2014-Q4 Texas Quarterly Housing Report, 66,664 single-family homes were sold in Texas in the fourth quarter of 2014, an 8.46 percent increase from the same quarter of 2013. This is significantly higher than the zero percent to two percent year-over-year increases in single-family home sales seen throughout the first three quarters of 2014.

Jim Gaines, Ph.D., economist with the Real Estate Center at Texas A&M University, explained, "A dip in mortgage interest rates below four percent in the last half of 2014 created an ideal climate for this year-end surge in home sales growth. However, fewer homes on the market and strong demand maintained rising home prices and shrinking months inventory."

Texas home prices continued to climb year-over-year in Q4-2014, but at a slower pace than the nearly 10 percent annual increases seen throughout the last two years. In 2014-Q4, the median price for Texas homes was $185,900, a 7.76 percent increase from 2013-Q4, and the average price increased 6.99 percent to $240,976.

The second half of 2014 saw an end to the double-digit quarterly drops in housing inventory that have occurred since summer 2011, but still did not prevent Texas housing inventory from hitting an all-time low of 3.3 months in 2014-Q4, a decrease of 8.33 percent from one year prior. That figure is nearly half the 6.5 months that the Real Estate Center at Texas A&M University cites as a market balanced between supply and demand.

"Texas home sales in the first half of 2015 are expected to be similar to what we've seen in 2014, but continued increases in home prices and record-low inventory levels should still continue," cautioned Gaines. "Historically, Texas home prices have only risen 4.5 percent year-over-year. Continued housing demand, especially in Texas' metro areas, will be critical to sustaining our market's strong housing development in 2015." 

Chairman Kesner concluded, "Several issues affecting Texas homeowners, including property taxes and transportation, are expected to be important topics in the current legislative session. Texas Realtors will continue to work with the 84th Texas Legislature to protect the rights of private property owners and move toward infrastructure that can sustain our state's continued growth."

About the Texas Quarterly Housing ReportData for the Texas Quarterly Housing Report is analyzed by the Real Estate Center at Texas A&M University using statistics compiled from multiple listing services in nearly 50 markets throughout Texas. The report includes data for single-family home sales over the course of one quarter and is scheduled for release by the Texas Association of Realtors on the following dates each year (or the next business day): Feb. 1, May 1, Aug. 1 and Nov. 1. To view the 2014-Q4 report in its entirety, visit TexasRealEstate.com.

About the Texas Association of REALTORS®With more than 90,000 members, the Texas Association of REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We advocate on behalf of Texas REALTORS® and private-property owners to keep homeownership affordable, protect private-property rights, and promote public policies that benefit homeowners. VisitTexasRealEstate.com to learn more.