According to ycharts.com, on average about one million new households are created each year, but since the recession that has dropped to 500,000, spurring trulia.com to say there are “2.4 million” missing households. In his 2011 Berkshire Hathaway shareholders letter, Warren Buffett says, “People may postpone hitching up during uncertain …
According to a Mortgage Bankers Association (MBA) survey of mortgage companies owned by homebuilders, sales of new homes rose 35 percent in January following two months of tepid sales. The survey estimates builders sold 38,000 new homes in January, indicating strong demand in some parts of the country, and bodes …
While the latest quarterly report from the National Association of Realtors (NAR) reveals the vast majority of metropolitan areas continued to experience strong year-over-year price growth in Q4 2013, a companion metro area annual affordability report pictures less favorable conditions, particularly in the West. According to housingwire.com, with 119 out …
NAR: Housing Affordability Hindered by Stagnant Incomes Read More
According to the National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI), markets in 58 out of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity, a net gain of two points over last month. Based on current …
A study commissioned by the National Association of Home Builders (NAHB) and conducted by GuildQuality, a leading provider of surveys for the residential building industry, revealed the satisfaction level of purchasers of National Green Building Standard homes. Key findings of the study indicate: 94% would recommend a green home to …
A Mortgage Bankers Association (MBA) report says mortgage applications nudged up 0.4 percent for the week ending Jan. 31 from the previous week, while refinance mortgage activity remained at 62 percent of mortgage applications. While the refinance index grew 3% from the previous week, the purchase index declined 4% from …
Panelists during a press conference at the National Association of Home Builders (NAHB) International Builders’ Show (IBS) in Las Vegas says strong demand for apartments will increase over the next several years. Says NAHB chief economist David Crowe, “The multifamily market has rebounded significantly from its trough in 2009 at …
The Manufactured Housing Association for Regulatory Reform (MHARR) reports the statistics from the U. S. Department of Housing and Urban Affairs (HUD) indicate HUD Code manufactured home production in Dec. 2013 rose 14.3 percent over Dec. 2012 to 3,985 homes, yielding 60,228 homes for 2013. This marks an increase of …
The National Association of Home Builders (NAHB) reports in their 55+ Housing Market Index (HMI) that builder confidence has risen sharply for Q4 2013, compared to the same period last year, in all three segments—single family homes, condominiums, and multifamily rental. Based on a survey that asks builders if current …
Fitch Ratings reports while home prices continue to gradually climb nationwide, especially in the western U. S., it is due to low inventory resulting from slow construction rates of new homes. There are also many homes still mired in the foreclosure pipeline, according to housingwire.com. “In markets with short supply, …
The National Association of Realtors (NAR) Chief Economist Lawrence Yun says the unseasonably cold weather in many parts of the country was responsible for the nearly nine percent drop in the pending home sales index (PHSI) from Nov. to Dec., 2013. Although the PHSI has been falling since May, existing …
Business research group the Conference Board reports a brighter view of the job market and business conditions has led consumer confidence to its highest point since August, 2013, reaching 80.7 in January, up from a 77.5 December reading of the index. “Confidence appears to be back on track and rising …
Consumer Confidence Improves in January over December Read More
The number of renter households is expected to increase five to six million in the next ten years above the nearly 40 million now in the housing stock, according to the National Association of Realtors (NAR). Even as Harvard University’s Joint Center for Housing Studies reports 162,000 one-time homeowners became …
A recent study conducted by Zillow and the National Urban League revealed that African-Americans are less likely to apply for a mortgage than any other ethnic group, and are 2.4 times more likely to be denied a mortgage than whites. Just over 25 percent of African- Americans are rejected, versus …
Despite sales of newly-built, single-family homes falling seven percent in December to a seasonally-adjusted annual rate of 414,000, home sales in 2013 rose 16.4 percent over the previous year, reports the National Home Builders Association (NAHB). “Consumers are getting used to more realistic mortgage rates, which still remain favorable on …
New Home Sales Fall in December but Rise on the Year Read More
Just as we learn half of our Congressional representatives in Washington are millionaires, and that the rich are getting richer, MHProNews has learned more Mr. and Mrs. D. Pockets are back on the scene building mega mansions. According to the Mortgage Bankers Association (MBA), applications for home loans of $625,000 …
Marking the highest level of sales since the housing boom year of 2006, 5.1 million previously owned homes sold in 2013, up 9.2% from 2012 and almost 20% more than 2011, according to the National Association of Realtors (NAR). As CNNMoney informs MHProNews, in the first month-over-month increase since July, …
In light of the Harvard University’s Joint Center for Housing Studies startling conclusion that 25 percent of households spend over 50 percent of their income on rent, nerdwallet.com analyzed the top 100 most populous metro areas to determine which have conditions most favorable for purchasing a home. Arranging the list …
Gordon Crawford of DataQuick, noting the months of increasing home values in the 42 markets the company analyzes in its Property Intelligence Report (PIR), says the substantial drop in prices in December is a good sign that the housing market is leveling off, according to nationalmortgagenews.com. “It shows that home …
Foreclosure and Home Price Decline Bodes Well for Stability Read More
Despite single-family housing starts falling seven percent in December, 2013 from November’s surge of 16 percent, when builders were scurrying to put foundations in the ground before the freeze set in, housing starts for the year were up 15 percent over 2012. The Census Bureau informs MHProNews multifamily starts, which …
