BusinessInsider tells MHProNews the chief economist at Gluskin Sheff, David Rosenberg, citing the drop in mortgage applications from a year-over-year rate of 16% in Jan. 2013 to only three percent today—they fell 1.3 percent the week ending April 5– says U. S. housing demand is beginning to slow. He says …
CNNMoney tells MHProNews evidence strongly suggests the real estate nightmare is coming to an end, as, according to data provider CoreLogic, home prices over the past year rose in 92 of the 100 largest real estate markets. Sales volume increased in 69 of the top 100 markets and 35 showed …
For the first time in the history of the Federal Housing Administration (FHA), with its mortgage fund a minus $13.5 billion, the agency may need a government bailout by October, as HousingWire tells MHProNews. FHA Commissioner Carol Galante said, “The President’s budget projects that FHA may need a $943 million …
Laurie Maggiano, policy director for the U. S. Treasury’s Homeownership Preservation Office, says many people continue to be left out of the housing recovery, and if fact are still struggling, and how the Obama administration hopes to change that. A partnership between the Treasury and NeighborWorks America will reach out …
Housing Recovery Passing over First-time Prospects Read More
In addressing the strength of the housing market recovery, as HousingWire tells MHProNews, experts expressed different views. Anthony Sanders, professor of real estate finance at George Mason University, says the market is improving, but slow job growth, stagnant incomes (except for the top five percent), and increasing government involvement are …
The National Association of Home Builders/First American Improving Markets Index (IMI) informs MHProNews the list of improving housing markets remains virtually unchanged from last month. Five new markets showed improvements in employment, housing permits and home prices for at least six months, while six fell from the ratings. NAHB Chief …
In addition to guaranteeing the majority of new residential mortgages across the country, HousingWire informs MHProNews Fannie Mae and Freddie Mac, the GSEs (government-sponsored enterprises), also guarantee half of the outstanding residential mortgage debt, with the private market picking up the other half. While the Congressional Budget Office (CBO) projects …
HousingWire informs MHProNews that in January, 2013 applications for loans insured by the Federal Housing Administration (FHA) rose to 147,509, an increase from 127,057 in December and up from 126,835 January 2012. In January the FHA insured 134,461 single-family homes, an increase from 113,856 the prior month and 102,011 from …
Writing in the albirminghamnews, Professor Scott Bealuier of Troy University says to speak of a housing market recovery is premature. He says the recovery so far is minor when compared to what the housing market was pre 2006. It’s now a government-driven recovery supported by the Fed’s monthly purchase of …
RVBusinses informs MHProNews Elkhart County, Indiana led the nation in job growth for the period Sept 2011 to Sept. 2012 for the largest U. S. counties, with 6.9 percent versus the national rate of 1.6 percent, according to the Bureau of Labor Statistics. While Elkhart hosts several component suppliers to …
According to a members survey by the National Association of Home Builders (NAHB), since June 2012 labor shortages in all aspects of the home-building trade are driving prices up, and nearly half say they have been delayed in finishing projects on time. 1.4 million housing jobs left the industry during …
MHProNews has learned from HousingWire housing analyst firm RealtyTrac reports foreclosure activity rose to 1.5 million in the first quarter of 2013, nine percent more than the same period in 2012, but considerably less than the peak 2.2 million in December 2010. Daren Blomquist, vice president at RealtyTrac, says, “Delinquent …
According to nationalmortgagenews the sale of new single-family homes dropped in February 4.6 percent from January on a seasonally-adjusted annual rate (SAAR) to 411,000, although last month’s sales still rose 12.3 percent over February 2012. The seasonally adjusted number of new homes available at the end of February hit 152,000, …
Reuters informs MHProNews despite the tightness of credit for residential mortgages, the housing market is threatening to take the lead from manufacturing in terms of overall economic activity, as home prices posted their largest year-over-year gain in six and-one-half years in January. While core durable capital goods orders (non-defense and …
According to nationalmortggenews, Lender Processing Services (LPS) informs MHProNews home prices in January, 2013 rose 0.3 percent from the previous month. In its survey of 15,500 zip codes, the Home Price Index (HPI) rose 6.7 percent from January 2012. The largest month-over-month gain was 1.6 percent in Georgia, while the …
Very much in line with what we have been hearing, CNNMoney tells MHProNews the National Association of Realtors reports the sale of existing homes reached a seasonally-adjusted annual rate (SAAR) of 4.98 million in February, ten percent above February 2012 but only slightly better than January 2013. It was the …
According to nationalmortgagenews, home sales in Florida are up over ten percent in Feb. compared to Feb. 2012, marking the 14th consecutive month of increasing year-over-year sales. Pending sales are up 27 percent for the same time period, and the median sales price of $150,000 has risen 13 percent from …
BuilderOnLine tells MHProNews that at the International Builders Show in Las Vegas in Jan., Champion Enterprises’ Director of Marketing, Kevin Flaherty, was surprised at the standing-room-only turnout for his presentation on modular housing. As the housing recovery continues to take hold, and the construction industry is trying to regroup some …
From the dead center of Washington state, wenatcheeworld informs MHProNews the sale of houses priced at $250,000 or below sparked a 40 percent increase of home sales over the first two months of 2012, typically one of the slower periods of the year. “Put an entry-level home on the market …
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) for March marks the second consecutive month in which every state is represented on the improving markets list by at least one metropolitan market. The IMI gauges increases in employment, housing permits, and housing prices for six consecutive …
