While home prices and sales slid nationally, as MHProNews reported here yesterday, Oct. 21, existing home sales in the 13 county metropolitan area of Indianapolis rose 13.3 percent over last Sept., but it was the slowest growth month of 2013. The next slowest month was August with 14.5 percent over […]
Home Sales Continue Upward in Indianapolis Read More
Home prices and sales dropped in September, according to what the National Association of Realtors (NAR) tells nationalmortgagenews. As mortgage rates hovered around 4.5 percent and inventories remained low, sales of existing single-family homes dropped to a seasonally adjusted annual rate (SAAR) of 5.3 million, down from 5.4 million in
Sales and Home Prices Slide in Sept. Read More
The Mortgage Bankers Association (MBA) reports last year 2,083 multifamily housing lenders provided $146.1 billion in new loans to apartment buildings with five or more units, representing a 33 percent gain from 2011. The mortgages went to a variety of investors, the biggest dollar volume share, 40 percent, going to
Multifamily Building Spikes in 2012 Read More
Doug Duncan, Fannie Mae’s chief economist, says the recent turmoil in the nation’s capital may impact consumer confidence but he does not anticipate it will have a lasting impact on the housing recovery. While Duncan sees consumer spending as being more modest in the third quarter, he says interest rates
Economic Housing Activity Stymied by Shutdown Read More
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports builder confidence dropped two points to 55 in October due in part to continuing challenges in the marketplace coupled with rising interest rates and uncertainty in Washington. However, any score above 50 indicates builders see the market
New Home Housing Market Index Drops two Points Read More
Single-family home real estate investment trusts (REITs) are a new player in the real estate market, with the outcome yet to be realized. One of them, Silver Bay Realty Trust says there are 41 million rental units in the U. S., equal to 30 percent of the housing market. Roughly
Yield on Investment in Single-family Homes Unknown Read More
Treasury Secretary Jack Lew told members of the Senate Banking Committee failure to raise the debt limit could result in the rise of interest rates, possibly jeopardizing the nascent housing recovery, as well as lead to higher costs on retirement accounts and make it more expensive to buy a car
Raise Debt Limit or Risk another Recession, says Lew Read More
As follow-up to a story we posted yesterday, Oct. 8, that the government shutdown may affect the shipment of manufactured homes because the IBTS has been issued a stop work decree, Lois Starkey of the Manufactured Housing Institute (MHI) wants to be notified when manufacturers are running short on certification
Keep Lines Open to Manufactured Housing Institute Read More
The Wisconsin Housing Alliance has learned a “stop work” directive has been issued from the Obama Administration to the Institute for Building Technology and Safety (IBTS) that may choke off shipment of new HUD Code manufactured homes (MH). IBTS is a non-profit that provides contractor support for monitoring services of
Shutdown May Shut Down HUD Code Home Shipments Read More
Factory-built and man-made portable homes have been in Montana for hundreds of years, from early settlers who followed the mining and timber industries from site to site, to modern day residents who want a house on their own piece of land, according to Zoe Anne Stoltz with the Montana Historical
Strong History of Manufactured Homes in Montana Read More
The National Association of Home Builders (NAHB)/First American Leading Markets Index (LMI) reports 52 out of 350 housing markets have returned to pre-recessionary levels of activity. Based on current housing permits, prices and employment data, the nationwide housing market is running at 85 percent of normal activity. MHProNews has learned
Index Notes Uptick in Housing Market Read More
Economists at Wells Fargo Securities indicate that 857,420 new households were formed in the U. S. during 2012, but the number of homeowners dropped by 237,750, the fifth straight year that figure has dropped, while the number of renters increased by 1.1 million. In 2012 single-family homes accounted for 28.5
Homeownership Falls, Rentals Rise Read More
The Manufactured Housing Association for Regulatory Reform reports official statistics from the U. S. Department of Housing and Urban Development (HUD) reveal production of manufactured housing rose to 5,886 HUD Code homes for Aug. 2013, a 5.5 percent increase over the 5,580 homes produced in August, 2012. For 2013, cumulative
HUD Code Manufactured Housing Production Rises in Aug. Read More
The government shutdown will immediately stifle approval of thousands of mortgages because lenders cannot access Social Security numbers and tax transcripts. If it lasts longer than a week or two it could dampen the slowly recovering housing market, according to what Mortgage Bankers Association (MBA) CEO David Stevens tells bloomberg.com.
Government Shutdown Hinders some Manufactured Home Loans Read More
CoreLogic reports house prices rose +0.9 percent in August, which was half of the July pace. Attributing the slowdown to seasonality and the recent rise in mortgage rates, CEO Anand Nallathambi says, “We anticipate moderate gains in home prices over the balance of this year, supported by the recent downward
Home Prices Rise expected to Slow Read More
The National Center for Healthy Housing (NCHH) reports the physical conditions of housing in the U. S., in its study of 46 metropolitan areas, has declined since the last report in 2009. The study reveals 35 million, about 40 percent of metropolitan homes, have one or more health and safety
Housing Conditions Decline during Recession Read More
Following a story from yesterday, Sept. 30, regarding the need for a $1.7 billion bailout of the Federal Housing Administration (FHA) by Treasury, FHA Commissioner Carol Galante says the request for funds comes from an estimate of forecasted losses from Dec. 2012 that cannot be altered due to mandated accounting
Federal Housing Administration Bailout Mandated by Law Read More
The Ohio Manufactured Homes Association tells MHProNews manufactured homes are the fastest-growing type of housing in the U. S. because of affordability and value. The average cost of a site-built home is $164,217, not including the land, a price most people of low-to-moderate incomes can ill afford. Although senior adults
Manufactured Housing Likely to become more Prevalent Read More
The National Association of Home Builders (NAHB) is replacing its Improving Markets Index (IMI) with the Leading Markets Index, shifting the focus from improving markets to those that are exceeding their normal levels of housing market progress. The new index will measure the same three components—single-family building permits, home prices
New Index to Measure Housing Market Progress Read More
The Consumer Financial Protection Bureau (CFPB) says 30 percent of homeowners over 70 have mortgages to pay off. A study for 2001 reports eight percent of owners over 75 were carrying mortgage debt. More homeowners over 65 continue to pay on their homes into their retirement years, and that may
Mortgage Debt: Problematic for Retirees Read More
