According to CoreLogic, home prices in the U. S. rose 11.8 percent in November, 2013 compared to Nov. 2012, marking the 21st consecutive month of yearly increases. “Our pending HPI (Home Price Index) projects that home prices will grow by 11.5 percent for the full year 2013,” Dr. Mark Fleming, […]
CoreLogic: Housing Market will Cool in 2014 Read More
According to Harvard University’s Joint Center for Housing Studies, over 11 million renters with minimum wage incomes of $19,000 competed for 6.9 million affordable apartments in 2011. Renters with annual incomes of $15,000 must find a unit for $375 a month for it to be affordable. The center considers housing
Rental Costs Rise Faster than Incomes Read More
Single-family residential construction rose nearly two percent in November to a seasonally-adjusted rate of $175 billion, $3 billion more than in October, according to information derived by nationalmortgagenews.com from Census Bureau data. Compared to a year ago, spending on land development and home building rose rose almost 17 percent from
Residential Construction Posts Highest Level in 5 1/2 Years Read More
Two thousand fewer Americans applied for unemployment benefits last week, moving the rate to a seasonally-adjusted 339,000, suggesting that hiring will remain steady and layoffs low. While employers have added an average of 200,000 jobs a month from August through November, driving the unemployment rate to a five-year low of
Unemployment Benefits Fall as Economy Expands Read More
As nationalmortgagenews.com informs MHProNews, 84 of the largest 300 housing markets have regained 100 percent of home values since the housing bubble, accounting for nearly 30 percent of tracked markets. Only nineteen markets had a decline in home values, while the remaining markets showed a rise of 50 basis points.
Housing Market Recovery Spreads Read More
The S&P/Case Shiller Home Price Indices reveal home prices in the 20 largest U. S. metro areas notched a 13.6 percent yearly increase, marking the highest gain since Feb. 2006 and the 17th month of annual increases. Thirteen cities earned a double-digit rise, according to worldpropertychannel.com. While average home prices
S&P Case Shiller: U. S. Home Prices Highest in Nearly Eight Years Read More
Americans’ views of current economic conditions climbed higher than expected in December, gaining 6.1 points from the previous month to 78, hitting the highest consumer confidence level since April 2008, according to what Bloomberg reported on the Conference Board index. As unemployment falls and household finance rise, people become more
Consumer Confidence Hits High Mark in December Read More
CNNMoney has selected several cities where the housing market looks brighter than in other cities for the coming year. Oklahoma City has an unemployment rate of just 5.3 percent as of Nov., 2013, and home values have declined a mere one percent since 2009. Trulia reports 75 percent of homes
Five U. S. Cities with Expected Top Housing Market Growth Read More
While a Bloomberg survey of economists predicted a one percent increase in pending home sales for November, the National Association of Realtors (NAR) reports the gain was 0.2 percent, the first in six months following a 1.2 percent drop in October. According to nationalmortgagenews, higher borrowing costs, tight lending standards
Pending Home Sales Inch Up Read More
According to the Philadelphia Federal Reserve, new residential building permits rose significantly from November 2012 to November 2013 in Delaware, New Jersey and Pennsylvania. Compared to the same month period in 2012, the growth in all three states was in double digits, as housingwire.com tells MHProNews. While permits were 21
Residential Building Permits Rise in DE, NJ and PA Read More
Predictions for 2014 from nationalmortgagenews.com forecast home sales will rise from 5.5 million this year to 5.9 million in 2014, home price appreciation will drop from 11 percent to six percent in 2014, and the 30-year mortgage rate will rise 50 basis points to five percent. The purchase-refinance loan origination
Housing Market Forecasts for 2014 Read More
Home prices rose 0.5 percent in October over the previous month, according to nationalmortgagenews.com, as prices climbed 8.2 percent year-over-year, based on data from the Federal Housing Finance Administration (FHFA). Investors have reduced the inventory of distressed properties as mortgage rates rise, and gains in employment are attracting more home
Traditional Home Buyers Returning to Market as Investors Leave Read More
The National Association of Home Builders (NAHB) reports sales of newly-built single-family homes fell 2.1 percent in November to a seasonally-adjusted annual rate (SAAR) of 464,000 units. According to data released by the U S. Census Bureau and the Department of Housing and Urban Development (HUD), this follows an upwardly
New Home Sales Slide in November Read More
While the previous story MHProNews posted questions the rationale of the Federal Housing Finance Administration’s (FHFA) desire to raise certain mortgage fees for Fannie Mae and Freddie Mac-backed mortgages, incoming director of the FHFA, Mel Watt, says he will postpone the fees and possibly cancel them altogether. Set to take
Incoming FHFA Director Mel Watt to Sideline Planned Fee Increase Read More
While New York City and other crowded urban areas attracting young professionals are turning to micro modular apartments of 200 to 400 square feet–as MHProNews posted here May 27, 2013–mental health professional are citing psychological problems that may result from such tight quarters. “Sure, these micro-apartments may be fantastic for
Micro Modular Apartments: Sanity versus Salary? Read More
A report from CBRE, the world’s largest commercial real estate services firm, states that multifamily rents will increase 2.5 percent a year for the next three years, with the pace of construction leveling off at 216,000 units each year through 2018. It has been 3.9 percent growth a year since
Multifamily Housing will Remain Strong Read More
Marking the third consecutive month of falling sales, the National Association of Realtors (NAR) reports sales of previously-owned homes edged down 1.2 percent to a seasonally-adjusted annual rate of 4.9 million homes sold. The combination of rising mortgage rates, low inventory of available homes and tight credit have contributed to
Sales of Existing Homes Fall Read More
In November housing starts rose 22.7 percent to a seasonally-adjusted annual rate (SAAR) of 1.09 million, according to data from the U. S. Department of Commerce, the highest rate since Feb. 2008. Additionally, Bloomberg.com informs MHProNews permits for new housing hit close to a five-year high, indicating construction will continue
Housing Starts: Growing Demand Trumps Higher Mortgage Rates Read More
The U. S. Department of Housing and Urban Development is providing $14.8 million in redevelopment funding for approximately 19,000 seniors with low-to-very low incomes in order to prevent their displacement from 1,700 units located in 12 properties across six states. Part of HUD’s Section 202 “Supportive Housing for the Elderly”
Senior Affordable Housing gets Boost from HUD Read More
During Q3 2013 an additional 791,000 U. S. homes returned to positive equity as home values continue to rise, bringing the number of mortgaged residential properties with equity to 42.6 million. The number of homes remaining in negative equity fell from 7.2 million at the end of the second quarter
More Homes Lifted out of Negative Equity in Q3 Read More
