The U. S. foreclosure inventory fell from 1.1 million in the first quarter of 2013 to 720,000 for the comparable period one year later, a drop of 37 percent. Based on CoreLogic’s National Foreclosure Report, worldpropertychannel.com informs MHProNews.com the foreclosure inventory as of March represented 1.8 percent of all homes […]
Foreclosures Continue to Drop Read More
Sam Zell, chairman of Equity LifeStyle Properties (ELS) and Equity Residential (EQR), says homeownership may continue to fall as low as 55 percent because so many Americans are postponing marriage and having children. According to Census Bureau data, the homeownership rate dropped from 65.2 percent in Q4 2013 to 64.8
Sam Zell: Homeownership will Continue to Fall Read More
Marking the first gain in nine months, the National Association of Realtors (NAR) Pending Home Sales Index rose 3.4 percent in March to 97.4 from 94.2 in February, although it is 7.9 percent below March 2013. As worldpropertychannel.com reports, this year’s existing home sales began tepidly, and are not expected
Pending Home Sales Rise in March Read More
The monthly consumer sentiment index from the University of Michigan and Thomson Reuters rose to 84.1 from 80 the previous month, surprising many economists who had expected an 82.5. The April reading was short of the 85.1 level reached in July, which was the highest since 2007, before the Great
Consumer Sentiment Rise Surprises Economists Read More
In an urgent action alert, Manufactured Housing Institute (MHI) Chairman Nathan Smith says the Senate Banking Committee is set to take up housing finance reform on Tue., April 29, and Sen. Joe Manchin of West Virginia is expected to offer two amendments that would attach the provisions of the Preserving
Important and Urgent Message from MHI Chairman Nathan Smith Read More
According to virtualpressoffice.com, the value of the U. S fracking fluid market grew from $18.4 billion in 2012 to $26 billion in 2013 and is expected to hit $37.3 billion in 2018. With the resurgence of domestic energy production across the nation, for the first time ever analysts say the
Modular Bedrooms for the Bakken Read More
A coalition of over two dozen conservative groups has sent a letter to the Senate Banking Committee urging members to oppose the Johnson-Crapo housing finance reform bill because they say the measure would lead to more government intervention in the mortgage market, increasing moral hazard and taxpayer risk. As nationalmortgagenews.com
Conservative Coalition Opposes Senate Housing Reform Measure Read More
Chairman of Berkshire Hathaway billionaire investor Warren Buffett says his company may get involved in housing finance once Fannie Mae and Freddie Mac are out of the picture. Similar to what has been proposed in the Senate, he says the government should be the backstop of last resort in a
Buffett’s Berkshire may Finance Homes Read More
The National Association of Realtors (NAR) report existing home sales in the U. S. slipped 0.2 percent to a seasonally adjusted annual rate (SAAR) of 4.59 million in March, down from 4.60 million in February, and 7.5 percent lower than the 4.96 million for sale March 2013. As worldpropertychannel.com reports,
Existing Home Sales Fall from March 2013 Read More
In the first quarter of 2014 9.1 million U. S. residential properties representing 17 percent of all properties with mortgages were seriously underwater—defined as the loan amount 25 percent higher than the market value–down from 26 percent one year ago, and a drop from 9.3 million residential mortgages representing 19
More Underwater Property Owners Breathing Air Read More
The National Association of Home Builders tells MHProNews.com housing starts rose 2.8 percent in March over February to a seasonally-adjusted annual rate (SAAR) of 946,000, up from 920,000 last month. According to statistics released by the Department of Housing and Urban Development (HUD) and the Census Bureau, single-family housing starts
Housing Starts Rise Modestly Read More
According to Ned Fowler, the founder and executive director of the Northwest Regional Housing Authority, there are 8,100 manufactured homes (MH) in Wilkes County, North Carolina, and 5,500 are pre-1976 factory-built homes. At a meeting of city and county officials, Fowler said there are 2,502 renters and 2,380 owners in
Pre-HUD Code Homes in North Carolina becoming Dilapidated Read More
Hit hard by the foreclosure process and now trying to fight the ensuing blight, not to mention being embroiled in bankruptcy, Detroit is beginning to sell off some of the 16,000 homes it owns due to tax liens, according to cnnmoney.com. The opening bid for each home will be $1,000,
Detroit Auctioning 16,000 Abandoned Homes Read More
Builder confidence in the market for newly built, single-family homes rose one point to 47 in April following a March reading of 46 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Based on a survey the NAHB has been utilizing for 30 years, the HMI
Builder Confidence Nudges Up One Point Read More
Referring back to a post MHProNews.com published March 26, 2014, regarding the introduction by the Senate Banking Committee of the housing finance reform bill, the Manufactured Housing Institute (MHI) reports the committee will mark up its bipartisan bill April 29. As proposed, the new measure would replace Fannie Mae and
Senate Set to Mark Up Housing Finance Reform Measure Read More
Statistics from the National Association of Home Builders (NAHB) indicate modest improvement this month over March, and anticipates a traditional, solid, spring home-buying season. Based on employment, permits and price data, the NAHB/First American Leading Markets Index (LMI) reports 28 percent of metro areas experienced a rise in their score
NAHB: Housing Numbers Showing Modest Rise Read More
Upon asking 61 residents at a Fort Collins, Colorado community meeting discussing housing affordability and the city council’s role, coloradon.com reports one respondent said change zoning laws so more manufactured home communities (MHCs) could build. Another answerer replied MHCs should be set up in clusters for rentals and starter homes,
Fort Collins: We Need more Manufactured Housing Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews that official statistics compiled by the Department of Housing and Urban Development (HUD) reveal production of HUD Code homes in February grew five percent over February, 2013, 4,361 homes over 4,151. Cumulative totals for 2014 hit 8,766 homes versus 8,393
Manufactured Housing Production Continued Growing in February Read More
The Mortgage Bankers Association (MBA) weekly survey of mortgage applications for the week ending March 28, 2014 reveal a drop of 1.2 percent, MHProNews has learned, while the Refinance Index fell three percent from the previous week. The refinance share of mortgage activity declined for the eighth consecutive week to
Mortgage Market Sees Modest Movement in Loans and Apps Read More
A new report by Prefab New Zealand and BRANZ says $40,000 can be shaved off the price of a new home using a prefabricated method of construction, and build time can be reduced 60 percent, which results in lower financing costs. Noting the urgent need to meet the current housing
New Zealand’s Labour Party plans to Build 100,000 Modular Homes Read More
