Of the 30 largest metropolitan areas that the Zillow Real Estate Market report analyzes, 20 experienced annual home value increases of at least ten percent in August, the most significant of which were in California cities—Sacramento rose 34.1 percent—plus Las Vegas and Phoenix. Overall, 85 percent of the 382 markets …
In an attempt to avoid the conversion of manufactured home communities (MHC) to other uses and thereby force people to move, the Spokane Valley City Council, while conscious of private property rights, want to increase the density in existing communities. According to spokanevalleyonline, it could also hold down rents, retain …
City wants to Retain Manufactured Home Communities Read More
A USA Today survey of Census Bureau data reveals the Millennial Generation, those between 25 and 34, buoyed the renters’ ranks by some one million from 2006 to 2011, while homeownership dropped nearly 1.4 million. For some of that generation renting is a result of liftstyle and finances—they may take …
The Rogers Park neighborhood in Chicago is the newest recipient of Starbucks’ modular drive-thru/walk-up coffee shop made of shipping containers, the sixth in the country for the 19,000 location chain. The units take about four people and two to three hours to unload and site them on the foundation. As …
Mortgage applications fell 13.5 percent from last week, and the 30-year fixed-rate mortgage rate rose from 4.51 percent to 4.57 percent this week, according to HousingWire. Mortgage Bankers Association (MBA) reports the Refinance Index fell 20 percent from the previous week, and 71 percent from the week of May 3. …
The National Association of Home Builders (NAHB) reports 44 markets have been added to the First American Improving Markets Index (IMI) for Sept., bringing the number to 291, the highest number since the index began two years ago. Based on improvement in housing permits, employment and home prices for at …
A National Association of Home Builders (NAHB) survey reveals a shortage of buildable lots is contributing to the lack of a more robust housing market recovery. “In our August 2013 survey, 59 percent of builders reported that the supply of lots in their markets was low or very low—up from …
Modular apartment buildings were often the norm in the communist-era of the former East Germany. With a reputation as dreary and shoddy, hundreds of thousands of the less appealing apartments were demolished by the federal government following the re-unification of East and West Germany when communism ended in November, 1989. …
Home prices have risen for the 17th consecutive month, according to CoreLogic’s house price index, increasing 1.8 percent nationally July over June, 2013. “Home prices continue to climb across the nation in July with markets hit hardest during the downturn leading the way,” said Anand Nallathambi, president and chief executive …
While 75 of the largest metropolitan housing markets across the country are posting a recovery index of over 100, which according to RealtyTrac means those markets are recovering faster than the national average, 63 markets continue to have at least 20 percent of homes underwater. Foreclosure is beyond its highest …
Housing Recovery is Real Despite a Few Bumps in the Road Read More
John Westrum of Westrum Development has seen demand rising for his modular homes in the beachside neighborhoods that were devastated when Hurricane Sandy waylaid the coast from New Jersey to Connecticut. As new federal flood maps and insurance require homes to be elevated, Westrum, who up to now has been …
Modular Homes Dotting the Jersey and New York Coasts Read More
Adding to a story MHProNews posted August 2, 2013 about June’s production of manufactured homes increasing 5.1 percent year-over-year, and production for the year having risen the same percent over last year, the Manufactured Housing Institute (MHI) reports production of single and multi-section homes both increased. Additionally, total floors shipped …
According to Jim Gaines from the Real Estate Center at Texas A&M University, the population of Texas is anticipated to increase to 30 million by 2050, a gain of nearly 120 percent, which will require 10.5 million additional housing units. The Dallas-Fort Worth area is expected to grow 163 percent …
Rapoza Associations reports nearly 30 percent of all rural households, which covers some 7.3 million families, are either unaffordable, overcrowded or substandard. Over 47 percent of all rural households are spending more than 30 percent of the their income on rent, which classifies them as cost-burdened; and almost 50 percent …
Housing affordability slipped nationwide as home prices in recovering markets rose during the second quarter, according to the National Association of Home Builders (NAHB) Wells Fargo Housing Opportunity Index (HOI). Of all new and existing homes sold in the first quarter of 2013, 73.7 percent were affordable to families earning …
As mortgage giant Wells Fargo lays off 763 workers in its Home Mortgage division because refinancing requests are declining, the company says it will try to find other positions for those employees, who are receiving 60 days’ notice. Meanwhile, last month Citigroup announced it will cut 120 employees at a …
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) for August lost eight markets from the listing in July, dropping to 247 metropolitan areas that show improvement, but three times the number included one year-ago August. The index measures job growth, home price appreciation and single-family housing …
With Millennials (ages 18-31) continuing to have problems finding suitable work, 36 percent of them lived in their parents home in 2012, an increase of two percent from 2009, according to the Pew Research Center’s analysis posted in wsj.com. For some 25-30 years, the percentage has hovered around 30 percent, …
June to July marked the first time this year the list price per square foot did not increase in pre-existing homes for sale, which could translate into home prices falling, and perhaps putting to rest the fears of another housing bubble. Movoto Real Estate says the steady list price month-over-month …
The latest data from Harvard University’s Joint Center for Housing Studies reports the rise in housing prices, while lauded by many, is driving many potential home buyers out of the market because incomes are not rising along with home prices. From 2001 to 2011 the number of households paying over …
