OriginationNews says the Census Bureau reports new home sales rose 3.3 percent in April following a 7.3 percent drop in March. MHProNews.com has learned sales of new single-family homes rose to a seasonally-adjusted annual rate (SAAR) of 343,000 in April from a 332,000 mark in March, besting Wall Street analysts …
The National Association of Realtors (NAR) says reports from across the country show existing home sales edged up 3.4 percent April over March, 2012 for every region of the country. While the increase is a positive sign, the seasonally-adjusted annual rate (SAAR) of 4.62 million home sales, just below January’s …
The Chronicle tells us another modular player has entered the housing game in the oil boom of North Dakota. Colorado-based Confluence has already set the first of ten units of apartments called Confluence at Harvest Hills, as the initial 12 modules were sited May 15. Occupancy of the first unit …
Writing in OriginationNews, Paul Muolo says changes made to the Home Affordable Refinance Program (HARP) have sparked an increase in mortgages beyond what the industry anticipated. Fannie Mae and Freddie Mac’s overhauling their automated underwriting (AU) systems has also added to competition. Noting this may be the most successful mortgage …
WenatcheeWorld in Wenatchee, Washington says home sales according to Pacific Appraisal Associates spiked 44 percent in April over the same month last year, hitting $44 million compared to last April’s $35.1 million. In the greater Wenatchee area the number of homes sold year-to-date rose 25% over 2011. Sales of manufacture …
InForum says organizers of the Bakken Housing Summit in Williston, North Dakota are calling for 5,000 homes in western ND in the next 24 months to meet the demand for housing in this oil rich region. Real estate developer Michael Milner of Salt Lake City says, “Without federal interference, this …
SeniorHousingNews tells MHProNews.com following the Great Depression about 25% of all households were multi-generational. That number fell to 12% during the 1980’s and climbed to 17% as people deal with the Great Recession. If that trend continues, the nation’s home builders may be developing more side-by-side houses, with one side …
The National Association of Home Builders (NAHB) says U.S. Census figures and HUD statistics report April registered a 2.3 percent gain in housing starts, marking a 717,000 seasonally-adjusted annual rate (SAAR). Single-family home construction was up 2.3 percent while multi-family gained 3.2 percentage. MHProNews.com has learned from various sources while …
The Manufactured Housing Association for Regulatory Reform (MHARR) says the House Financial Services Committee (FSC) is holding a hearing today to examine the Dodd-Frank Act’s definition of non-bank financial institutions as “systemically important”, a euphemism for “Too Big to Fail”, meaning the government will protect it from collapse. The Financial …
NationalMortgageNews tells MHProNews.com $462 billion in residential mortgages were funded in Q1 2012, the highest volume since the fourth quarter of 2010. The numbers are based on secondary market loan purchases reported by Fannie Mae, Freddie Mac, and Ginnie Mae. For 2010 the industry funded $1.67 trillion in home loans, …
loansafe reports from Billings, Montana, the city is experiencing a housing boom due to its proximity to the oil boom in western North Dakota. With wome oil field employees working a two-week on and two-week off schedule, Billings is a short plane ride away. The average price for a single-family …
RegisteredRep says, according to recent data from the Joint Center for Housing Studies at Harvard University, 80 percent of Americans over 65 are homeowners, and the Census Bureau notes 65 percent are mortgage free. At the same time, The Urban Institute has determined that 40 percent of those born 1956 …
According to a 2012 Thomson Reuters/University of Michigan survey for consumer sentiment, the index improved from 76.4 in April to 77.8 May 2012, the highest rating since Jan. 2008. RVBusiness tells MHProNews.com the drop in energy prices reduced U.S. producer prices which also eased inflationary pressure. Nearly twice the respondents …
HousingWire reports the Labor Department says the number of Americans filing jobless claims fell to 367,000 the week ending May 5, 1,000 fewer than the previous week. This pales in comparison to the week ending April 28 when claims fell 27,000. The four week moving average hit 279,000, 5,250 fewer …
NationalMortgageNews says new data shows the number of loans in foreclosure plus loans delinquent 90 or more days increased June 2011 to Dec. 2011 from 9.2 percent to 9.7 percent, following six consecutive quarters of decline. Foreclosure-Response.org notes, for the 100 largest metropolitan areas, the foreclosure rate has risen to …
David Stiff, chief economist at Fiserv, a financial analytics firm, forecasts housing prices will begin rising later this year and increase four percent a year for the next five years. CNNMoney says according to the National Association of Realtors (NAR), around half of 146 metro housing markets surveyed indicated a …
Following up on a story we published April 25, 2012, TCPalm says state-run Citizens Property Insurance in Florida wants to reduce its policyholders by some 687,000, 45 percent. Created by the state to provide insurance for manufactured home owners ineligible for private insurance, Citizens is now the largest insurance company …
The Manufactured Housing Institute (MHI) reports MH shipments for the first quarter of 2012 totaled 12,780 homes as opposed to 9,696 for the same period 2011, an increase of 31.8 percent. March 2012 saw 4,696 new manufactured homes shipped, 16.4 percent more than the same month 2011. Although shipments of …
UPI says Berkshire Hathaway Chairman Warren Buffett told stockholders gathered at the company’s annual meeting in Omaha his successor will have a sharp eye for profitable long-term investments, good negotiating skills at making large-scale deals to benefit the stockholders, while sticking to a solid investment strategy. Although share prices of …
Although Florida’s shadow inventory decreased nine percent from Q1 2010 to the end of 2011, the 550,000 units still account for almost one-third of the nation’s underwater inventory of 1.6 million properties, according to CoreLogic. In its study, Florida Realtors says 28 percent of the state’s homes as of Feb. …
