U. S. Housing and Urban Development Secretary Shaun Donovan, noting that a housing trust fund needs to be established that supports $5 billion in affordable housing production a year, says the congressional GSE (government-supported enterprise) reform legislation that eventually eliminates Fannie Mae and Freddie Mac needs to include such a […]
Secretary Donovan calls for Housing Trust Fund Read More
Unusually severe weather combined with a shortage of available lots and labor led homebuilder confidence to fall ten points to 46, as determined by the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The survey gauges current sales conditions, sales expectations in the coming six months, and
Homebuilder Confidence Drops in January Read More
Mortgage applications continued to fall compared to the previous week, falling 4.1% for the week ending Feb. 15, as the refinance share of mortgage dropped slightly to 61 percent of all apps. As the purchase index slipped 6% from one week earlier, the refinance index dropped three percent from the
Mortgage Rates Rise Slightly as Mortgage Apps Drop Read More
While a tepid jobs report greeted the new year, leading to a slow start for the housing market, mortgage rates actually fell from early January to early February in the U. S., resulting in opportunities for refinance activity, according to worldpropertychannel.com. Noting that job and income growth are necessary for
Housing Market Stymied by Rising Home Prices, Poor Jobs Report Read More
According to newly-released figures from the Census Bureau and the U. S. Department of Housing and Urban Development (HUD), housing starts fell 16 percent to a seasonally adjusted annual rate of 880,000 units in January, reports the National Association of Home Builders (NAHB). Of these, single-family housing starts accounted for
Housing Starts Fell in January Read More
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
New Home Sales Rise in January Read More
The Texas Manufactured Housing Association (TMHA) reports revised figures for October indicate new manufactured home sales were 913 units, marking the fifth highest monthly total on the year. While the new sales percentage change from Sept. was -7.84 percent, change from same month last year was up +2.62 percent, and
Texas Stats for Manufactured Home Sales Read More
Due to a number of factors, manufacturing has declined in Australia, especially in the food and automobile industries, and two staff members of Curtin University have suggested resources be turned to the modular housing market. Jemma Green and Peter Newman say the off-site housing market is a $90 billion industry
Australia: Moving Manufacturing to Modular Read More
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
MHProNews.com has been informed the need for worldwide senior housing is projected to drive that sector of the construction market to $127 billion by 2023 in the G20 summit nations, growing at a compounded eight percent over the coming decade, more than double the current market value. As reversemortgagedaily.com says,
Growing Need for Senior Housing to Drive Modular Market Read More
Fannie Mae has collected nearly $14 billion from eight mortgage lenders since the start of 2013 for repurchase claims, and just agreed to $591 million from Wells Fargo, which will mark the end of its efforts to collect on defective loans it bought from private lenders during the the peak
Fannie Mae Finalizes Repurchase Liabilities Read More
According to multihousingnews.com, government services enterprise (GSE) Fannie Mae reports in 2013 it provided $28.8 billion in multifamily finance, covering 507,000 multifamily units. Over 85 percent of of the multifamily units financed by Fannie Mae in 2013 were affordable to tenants earning at or below the median income in their
Fannie Mae Loans for Manufactured Homes Rise in 2013 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
Leading Housing Markets Index Nudges Higher Read More
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
As Mortgage Apps Edge Up, Rates Edge Down Read More
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
Multifamily Home Building on the Rise Read More
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
55+ Housing Market Makes Strong Headway Read More
As MHProNews previously reported Jan. 7, 2014, home prices in the U. S. rose 11.2 percent in November, and CoreLogic says they rose the same amount for the third quarter 2013, as compared to last year. The report, which measures price trends in over 380 markets, reveals prices were 17
Home Values Rose Q3 2013 Read More
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,
Slowdown in Wage Growth may Slow Down Home Sales Read More
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
New Mortgage Rules may Hinder Home Sales Read More
