Altos Research says their study indicates the inventory of homes on the market is a third below where it was last year, and half of what it was at the lowest point when the housing bubble burst. The low inventory is pushing prices up as demand increases. Are the banks …
Bloomberg News states while construction shrank and mortgage approvals declined in May in the United Kingdom due to economic uncertainty there, 4.6 million homes changed hands in the U.S. in May at a seasonally-adjusted annual rate, according to a report from the National Association of Realtors (NAR). The average 30-year …
While business may be good for housing suppliers to the oil and energy field projects in north central U.S., increasing populations of mostly single men in North Dakota are drawing a mixed reaction, Ohio tells MHProNews.com. With a population grown from 12,500 to over 20,000 in four years, primarily due …
The energy and mineral fields north and west of Friendship Homes in Montevideo, Minnesota are making the modular builder crank out seven modules daily, but that number is expected to rise to 12 in the near future. wctrib says the oil patch in western North Dakota, the destination for its …
RealtorMag reports the Commerce Department says new, single-family home sales rose to 7.6 percent in May, the best pace since April 2010, and up 20 percent year-over-year. New home prices are rising as well: Prices increased 5.6 percent over last year, and are now at a median price of $234,500. …
OriginationNews states the CoreLogic House Price Index (HPI) notched its third consecutive monthly increase as house prices rose 1.8% in May, an increase of two percent over May 2011, and is expected to rise another 1.4% in June. Anand Nallathambi, president and chief executive officer of CoreLogic says the limited …
The decision by the U.S. Supreme Court this morning to uphold the individual mandate and the Patient Protection and Affordable Care Act (PPACA) went against the National Federation of Independent Business (NFIB) and 26 states in their argument before the Justices challenging the constitutionality of the measure. Yahoo!News reports Dan …
In a New York Times article by John Markoff about Google’s “American Made” production of its wireless home media player, Harold L. Sirkin of Boston Consulting Group said in April one third of American companies with revenue over one billion are planning/considering returning their manufacturing operations to the U.S. The …
OriginationNews reports, although it is down two percent from April 2011, Standard & Poor’s Case-Shiller housing price index (HPI) rose 1.3% in April in 19 of the 20 cities it surveys, the first increase since August. Detroit is the only city where prices fell, dropping 3.6% in April. Published by …
MarketWatch reports the U.S. Census Bureau says American homeownership fell from 66% to 65% in Q1 2012, the lowest point in 15 years, especially noteworthy because historically spring marks the home buying season. At its peak in 2004 it was 69%. Dan McCue of Harvard University’s Joint Center for Housing …
While some analysts predict the housing market will not turn around until later next year, Seeking Alpha‘s Mike Kapsch lists several reasons it may return yet this year: More building permits were applied for in May than in the past 3 1/2 years, and the U.S. Department of Commerce upwardly …
The Washington Post reports the number of adults sharing households spiked 11.4 percent from 2007 to 2010, representing an increase from 17 percent to 18.7 percent of all U.S. households, reversing the empty- nester trend. According to the Census Bureau, during that period the number of young adults living in …
Household Formation Decline Lowers Demand for Household Goods Read More
MarketWatch reports the Philadelphia Federal Reserve in its June Business Outlook Survey states manufacturing in the region is down for this month as firms noted a decline in new orders and shipments. Employment remained nearly the same, but average hours fell. More companies experienced a decline in prices for their …
MarketWatch says according to the National Association of Realtors (NAR) sales of existing homes fell 1.5 percent in May because fewer inexpensive homes sold. The seasonally annual- adjusted rate (SAAR) of sales for the month hit 4.55 million, a drop from 4.62 million in April. Although sales were up 9.6 …
CNNMoney reports the Census Bureau says building permit applications for new homes rose to an annual rate of 780,000 in May, the highest rate since Sept. 2008, reflecting the National Association of Home Builders (NAHB) survey of builder confidence which hit its highest mark since 2007, as we reported here …
WorldPropertyChannel reports Freddie Mac’s vice president and chief economist, Frank Nothaft, says due to rental demand by people postponing homeownership, rental activity has produced some good numbers in the housing market. The GSE’s U.S. Economic and Housing Market Outlook for June 2012 says for the year ending March 2012, the …
The Manufactured Housing Institute (MHI) newsletter reports an article in the Wall Street Journal says access to credit may be the key to U.S. economic recovery. Noting those who already have access are taking advantage of the low interest rates, while millions more with limited access cannot take advantage of …
NationalMortgageNews reports the Census Bureau released figures stating single-family housing starts rose 3.2 percent in May to a seasonally-adjusted annual rate of 516,000, above the saar of 500,000 for April. This marks the third consecutive monthly increase. Single-family starts are up 26% overall from a year ago. Meanwhile, multi-family starts, …
Because so much of the net worth of middle-class Americans is connected to home equity, the housing downturn led to household net worth falling from $102,844 in 2005 to $66,740 in 2010, as house prices have fallen 35% below their peak in 2006, according to Standard & Poor’s/Case-Shiller index. While …
MHProNews has learned from the National Association of Home Builders (NAHB) their Wells Fargo Housing Market Index (HMI) reports builder confidence in the market for new, single-family homes rose one point in June, to 29, the highest level attained since May of 2007. Based on a 25 year-old survey, the …
