According to BloombergBusinessWeek‘s survey of 15 economists and housing analysts, existing home sales will increase 7.2 percent in 2013 to 4.98 million, the most since 2007. Prices will move up 3.3 percent this year, a slight retreat from the 4.5 percent rise in 2012. The loss of inventory in 2012 …
As originationnews reports, the Mortgage Bankers Association (MBA) says refinancings the last two weeks ending Dec. 28 were at their lowest point since April, as refis dropped 21.6 percent on a seasonally-adjusted basis. The average contract interest rate for a 30-year fixed rate mortgage (FRM) increased one basis point to …
HousingWire reports real estate data firm Trulia says home prices increased Dec. 2011 to Dec. 2012 5.1 percent, a distinct rebound from the 4.3 percent drop the previous year. In the largest annual increase to date, asking home prices rose 3.8 percent Dec. to Dec 2012. While Phoenix saw the …
While the number of foreclosures completed dropped by eight percent in Massachusetts from 2011 compared to Nov. 2012, to 7,158, the number completed in Nov. 2012 was down nearly 60 percent from Nov. 2011, according to what nationalmortgagenews tells MHProNews. Meanwhile, this past Nov. marked only the second month in …
According to standardmedia in Kenya, Africa, the National Housing Corporation (NHC), a division of the Ministry of Housing for 49 years (since independence) has only been able to erect 50,000 units of affordable housing per year while the need is for 200,000. NHC is now preparing to build panelized homes …
For the third consecutive year, foreclosure filings have declined 2.2 percent in southeastern Wisconsin in seven counties, including Milwaukee and Kenosha, to 10,475 in 2012. Although foreclosures are declining, their drag on the economy is very strong— short sales make up 23 percent of all homes sold in the seven …
EnhancedOnlineNews reports Intuit, Inc., provider of business and financial management solutions for small and mid-sized businesses, says small business employment increased 0.12 percent in 2012, while small business revenue fell 1.2 percent from Jan. to Nov. Based on Intuit’s data retrieved from its Online Payroll and Online Quickbooks programs, small …
The Associated Press reports in a further sign the job market is improving, first-time jobless claims fell to a seasonally-adjusted 350,000 last week, the lowest level since March 2008. The four-week average of 356,750 is almost a five-year low. However, since many state unemployment offices were closed Mon. and Tue. …
BusinessInsider tells MHProNews John Burns Real Estate Consulting offers the following five predictions of what will happen in the New Year in the housing market, “Assuming our leaders in DC come to some sort of agreement that keeps the economy growing and interest rates low, which seems like the most …
HousingWire informs MHProNews pending home sales hit a 2.5 year high in Nov., rising 1.7 percent above the index score of 104.6 in Oct. 2012 to 106.4 last month. According to the National Association of Realtors (NAR) Pending Home Sales Index, the index score is 9.8 percent above last year’s …
NationalMortgageNews tells MHProNews despite efforts to maximize tax incentives for low-income housing development, the shortage of affordable housing across the nation is critical, according to a study by CohnReznick LLP, one of the country’s largest largest business and tax advisory firms. These findings are also supported by the Joint Center …
Santa Cruz Sentinel says the median home price in Santa Cruz, Calif. as of Nov. was $510,000 for a two bedroom on the west side of this Pacific Ocean border town. The same 510k would get you a three or four bedroom home in other parts of the city. Listings …
According to Freddie Mac’s Primary Mortgage Market Survey, HousingWire reports interest rates will finish out the year at near record lows. For the week ending Dec. 27, the average 30-year fixed-rate mortgage (FRM) hit 3.35 percent, down from 3.37 percent the previous week, and well below 3.95 percent from a …
CNNMoney reports the Census Bureau says new home sales hit a seasonally-adjusted annual rate (SAAR) of 377,000 in Nov., an increase over Oct. of 4.4 percent and a rise of 15 percent over Nov. 2011. The highest rate of new home sales since April 2010 when the $8,000 tax credit …
According to HousingWire, the average price for a U.S. home which peaked at $266,000 in 2006 made it back to $206,000 in Oct. of this year. As MHProNews has learned, the price has risen from $197,000 Oct. a year ago, and $1,000 above the $205,000 in Sept. 2012. (Image credit: …
HousingWire reports four of the five hardest-hit housing market states are witnessing positive home price increases year-over-year. Of the 19 states that received $7.6 billion in aid from the federal government, California, Florida, Arizona, and Georgia had increases in Oct. over Oct. 2011, while Illinois experienced a 1.3 percent decline …
As a result of the housing downturn and the slow economic recovery, more seniors have turned to the Home Equity Conversion Mortgage (HECM) program (reverse mortgage), backed by the Federal Housing Administration (FHA) as an economic lifeline, but an independent audit has revealed the program is $2.9 billion in the …
National Public Radio (NPR) reports Harvard economist Martin Feldstein says the Federal Reserve’s holding the interest rate down is assisting many borrowers in buying or refinancing a house, but it is also keeping some lenders out of the market because the lower interest rates reduce the profit margins lenders can …
Keeping Interest Rates Low could Return to Bite us Read More
The stocks of publicly traded builders have rebounded in the wake of the ongoing housing market recovery. CNNMoney tells MHProNews Toll Brothers and DRHorton have both notched about a 60 percent growth in their respective stocks, while Hovnanian Enterprises and Pulte Group have recorded triple digit gains for the year. …
HousingWire reports a survey by Trulia revealed the Millennials, the 18-34 age group, were more optimistic than three older age groups that conditions will be conducive for them to purchase a home. ( See chart below.) MHProNews has learned the survey showed 31 percent of renters plan to buy a …
