Some title industry members may notice more people going to take advantage of existing property title searches in the coming months, as the level of residential construction is not moving forward quickly enough.

The total rate of residential building construction spending posted a figure of $223.4 billion in July, nearly unchanged from June's level, a report from McGraw Hill Construction explained. Further issues occurred for the single family housing sector, as it had a rate decline of 3 percent during the period.

"One explanation for the sluggish single family market is that investor demand has waned, and first-time homebuyers have been unable to fill the gap, given continued tight bank lending standards," said Robert Murray, chief economist and vice president at McGraw Hill Construction. "On a positive note, the most recent survey of bank lending officers conducted by the Federal Reserve shows that 18 percent of the respondents had eased lending standards on residential mortgages during the second quarter, which along with continued low mortgage rates may help housing demand and construction to strengthen in the latter half of this year."

When looking regionally, the residential construction figures did not perform well. The report showed that the only region that had an increase was the South Atlantic, as it inched up 1 percent. The most significant decline occurred in the West, as it fell 10 percent. There was no alteration in the Midwest's figure, while both the South Central region and the Northeast had 3 percent declines.

Some consumers worried about market
A number of individuals are still concerned that the market is not where it should be. According to the July 2014 National Housing Survey from Fannie Mae, the average price growth expectation for the next year from consumers dropped to 2.3 percent.

The continued cautious sentiment expressed across the range of consumer indicators this month gives weight to our view that the first phase of the housing recovery is decelerating, and 2014 will be a year of mixed housing outcomes with home prices rising more slowly and home sales falling slightly," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "We have always believed that for the housing recovery to be considered robust, we will need strong and sustained full-time job and income growth."

Just 42 percent of consumers think prices will improve during the next year, a decline from June's figure, the report added.