ModularHomeCoach informs MHProNews Haven Homes in Selinsgrove, Pennsylvania will cease operations for the final time Sept. 24, 2012 after 40 years in business. As of 3:00 PM July 27 the stopped accepting orders for their line of modular homes. The company says the current economic environment and recent health issues […]
Modular Builder Closing Read More
mortgageorb reports a new study by the American Council for an Energy-Efficient Economy (ACEEE) estimates energy-efficient manufactured homes could save consumers $4.6 billion over the next 20 years, which would also improve residents’ economic stability. “Mobilizing Energy Efficiency in the Manufactured Housing Sector” states average household incomes in manufactured homes
Study: Energy Efficient MH would Improve Economic Stability Read More
OriginationNews reports after a rise of 1.8% in April, the first increase in seven months, the 20-city S&P Case Shiller house price index (HPI) rose 2.2% in May, for the second consecutive month. While the HPI is down 0.7% from a year ago May, all 20 cities showed positive gains
House Price Index Shows Modest Gain Read More
Yahoo! Finance reports while most of the U.S. is still reeling from the effects of the housing downturn, the shortage of housing in western North Dakota is so great due to the Bakken Formation oil fields, the challenge is often finding a place to live. An 1,800 square foot house
In Western North Dakota, Finding Housing is the Challenge Read More
The Olympian reports while the Consumer Confidence Index of The Conference Board increased for the first time in five months, from 62.7 in June to 65.9 this month, the index is well below 90, which indicates a healthy economy, a mark not seen since before the recession began in 2007.
Consumer Confidence Gains, but Slowly Read More
MHProNews has learned from HousingWire 15 and 30-year fixed rate mortgages (FRMs) are continuing to drop to historic lows. While last year at this time a 30-year FRM was at 4.55, as of Thurs. July 26 it had dropped to 3.49% from 3.53% the previous week. While the 15-year FRM
Interest Rates Keep Dropping—But is it Good? Read More
According to SFGate, Federal Reserve data indicates owners’ equity in household real estate fell from the end of 2005 through the last quarter of 2011 by seven trillion dollars, about half of its value. However, it increased by $400 billion in the first quarter 2012, the quickest rate of growth
Housing Industry Edges Up Read More
azstar reports home sellers are benefiting from the reduced inventory of homes for sale. The drastic drop in availability has reached 50 percent in some areas of California since last year, and has dropped 53 percent in San Diego since last summer. Los Angeles has seen a decrease of 49
Low Inventory of For Sale Homes Raises Prices Read More
Lender Processing Services (LPS) says compared to a year ago, fewer home mortgages are delinquent, but the rate rose May to June this year by 3.4%. LPS estimates as of June, 7.14% were behind, including 3.6 million 30 or more days past due, and 1.6 million seriously delinquent. The rate
Delinquencies Rise in June Read More
In a study by the American Association of Retired Persons (AARP) written up in SeniorHousingNews, seniors have taken a big hit in foreclosures since 2007, with those 75 and older having a rate of 3.2%, higher than younger members of the 50-plus age group. The foreclosure rate on prime loans
Foreclosure Rate for Seniors Rising Read More
CNNMoney says according to Zillow, home values rose +0.2% year-over-year in the second quarter to a median of $149,300, the first annual increase since 2007. The real estate listing site also said prices increased 2.1% from the first quarter. Even though overall home prices continue to be 24% down since
Home Values Inch Upward Read More
As an indication the housing market may take longer to recover than hoped, CNNMoney reports new home sales fell 8.4% in June to a seasonally annual-adjusted rate (SAAR) of 350,000, following sales in May that hit a two year high, according to the Census Bureau. Housing market analysts expected sales
The Federal Housing Finance Agency (FHFA) reports in its latest monthly House Price Index nationwide home prices rose 3.7 percent May 2011 thru May 2012. Home prices rose only 0.8 percent from April to May, while the price increase for April from the previous month was revised downward from 0.8
Home Prices Creeping Back Up Read More
MHProNews has learned from NBCBayArea average monthly rent in Oakland, California increased 14.4 percent over the past year, in San Francisco by 12.9 percent, and in San Jose 10.1 percent. As rents get more expensive due to improvements in the job market, and affordable housing budgets are slashed, low-income residents
Rents Rise, Vacancies Drop Read More
HousingWire reports the seasonally annual adjusted rate (SAAR) of existing home sales dropped from 4.62 million in May to 4.37 million in June, a decline of 5.4 percent, although sales in June topped the 4.18 units sold in June 2011. The lower inventory of available homes and increased demand managed
Existing Home Sales Fall in June Read More
HousingWire reports mortgage applications increased 16.9 percent for the week ending July 13 over the previous week, and the Mortgage Bankers Association (MBA) says 80.1 percent of that figure was refinance applications, up from 77 percent the previous week. MBA’s Mike Fratantoni says, “Applications for HARP refinance loans accounted for
Mortgage Apps Rise, Interest Rates Fall Read More
MHProNews has leaned from NationalMortgageNews the default rate for both first and second mortgages declined May to June, 2012, with first mortgages defaulting at a May 2007 level, and second mortgages at an eight year low. The composite drop was from 1.5% in May to 1.41% in June, according to
Default Rates Decline Read More
MHProNews has learned from the IndyStar permits for new home construction in the nine county Indianapolis metropolitan area for the first six months of 2012 increased eight percent over the same period 2011, but fell one percent from June 2011, 428 issued down from 434. Compared to June of last
Indianapolis, National Housing Permits Drop May to June Read More
MHProNews has learned single-family housing starts have increased each month since Feb., rising to a seasonally adjusted annual rate of 539,000 in June, a 4.37 percent increase from a 515,000 rate in May. OriginationNews also says the Census Bureau reports multifamily construction rose from a 182,000 seasonally adjusted annual rate
Single-family Housing Starts Rise Read More
Realty Biz News reports the impact of the aging of the U.S. population is the number one issue facing the real estate market. MHProNews has learned an estimated 7,000-10,000 boomers reach 65 years of age daily. As people age they spend less on housing and more on health care, and
Senior Housing to Hugely Impact Real Estate Market Read More
