As housing inventory expands, Redfin says the housing market is undergoing a slight slowdown, based on data from 22 markets across the nation that ranks the percentage of homes that go under contract within two weeks of their listing. HousingWire reports 32 percent of homes went under contract within 14 […]
Report says Housing Market may Return to Sluggishness Read More
Elkhart County in northern Ind. topped the nation for job growth in 2012 with a rate of 7.4 percent from Dec. 2011 to Dec. 2012, as compared to a national rate of 1.9 percent, according to the U. S. Bureau of Labor Statistics. The county, and neighboring LaGrange County, are
Indiana County has Highest Job Growth in the Nation Read More
May saw the largest increase in the CoreLogic Home Price Index (HPI) since Feb. 2006, rising 12 percent over May 2012, and 2.6 percent higher than April, marking the 15th consecutive month of year-over-year increases. For June 2013, as nationalmortgagenews informs MHProNews, the CoreLogic Pending HPI indicates home prices are
Home Prices Rise for 15th Straight Month Read More
A survey released today (June 28) indicated consumer sentiment among higher-income families nearly rose to its highest level in six years, hitting 84.1 in late June, 2013, just below the 84.5 six year high in May. Economists surveyed by Reuters had forecast 82.8 for June, as MHProNews has been informed
Consumer Sentiment Rising Read More
Although the aging-in-place movement for seniors is very strong, an estimated 16 million senior households will be relocating within the next decade, while the number of 65-and-older households is estimated to increase by 9.8 million in the same time span. “Most of these households will opt to age in place
Harvard’s Housing Study: Affordable Senior Housing may be Scarce Read More
The competition for affordable rental housing resulting from the recession, itself partly a product of the roughly 4.4 million people who lost their homes to foreclosure, has led to a shortage of homes for the extremely low-income sector. Defined as those earning less than 30 percent of the median income
Affordable Rental Units becoming More Scarce Read More
In 2012 Iowa retailers ordered 271 HUD Code manufactured homes, well below the years from 1964 to 1982 and 1988 to 2002 when orders ran over 1000 annually, but 28 percent higher than the 212 ordered in 2011, according to Joe Kelly, executive vice-president of the Iowa Manufactured Housing Association.
Manufactured Housing Numbers Climb in Iowa Read More
New home sales rose 2.1 percent in May over April, according to Commerce Dept. figures, the highest rate since 2008. The S&P Case Shiller home price index (HPI) of existing homes rose 12.1 per cent from last year, the best rate in seven years, according to what David Blitzer of
Existing and New Home Sales Rising Read More
Consumer Financial Protection Bureau Director Richard Cordray, in a speech followed by a Q and A before the Exchequer Club, said more commotion than necessary is being made about the qualified mortgage (QM) rule. He says lenders will continue lending as they have in the past, even outside the rule,
CFPB Director takes Questions Read More
A shortage of skilled trades workers combined with tight credit and lack of available finished lots may slow the housing market rebound, according to Fitch Ratings, although the only likely downside is a longer construction timeline. Prior to the Great Recession, over eight million construction workers were employed, but according
Shortage of Skilled Tradespeople may Slow Recovery Read More
Shortages of building materials may be significant in holding holding back a more robust return of the housing market, says the National Association of Home Builders (NAHB) Chief Economist David Crowe. According to a builders survey, 22 percent reported short supplies of oriented strand board (OSB), 20 percent said wall
Materials sometimes Lacking for Home-building Read More
A plan to replace Fannie Mae and Freddie Mac with a Market Access Fund (MAF) has been proposed by two U. S. senators as well as by several analytic firms and think tanks. Senators Bob Corker (R-Tenn.) and Mark Warner (D-Vir.) say their reform bill would create the MAF from
Proposal would Replace Government-Sponsored Enterprises Fannie and Freddie Read More
Noting the median home price jumped eight percent from April to May to $208,000, and sales of homes rose four percent for the same period, chief economist Lawrence Yun of the National Association of Realtors (NAR) says, “The home price growth is too fast, and only additional supply from new
Housing Market Continues to Heat Up Read More
Housing starts increased 6.8 percent in May to a seasonally-adjusted annual rate of 914,000 units due to a jump in multifamily construction. Single-family production remained steady at 599,000 homes, but multifamily activity grew 21.6 percent to 315,000 units. Regionally, the South posted a gain of 17.8 percent in combined starts
New Home Starts Continue their Climb Read More
For the first time in seven years, builder confidence for newly-built single-family homes has surpassed the 50th percentile mark, which indicates builders see the market as good rather than poor. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) gained eight points to 52. Based on a
Housing Market Index Posts Largest Gain in over Ten Years Read More
As of April 2013, home building employment totaled 2.1 million people, up nearly 100,000 in the last year, according to the labor department. Home building contributed 20 percent to the growth of the Gross Domestic Product (GDP) in the last six quarters. Residential Fixed Investment (RFI), the home building component
Home-building Spurring Gross Domestic Product Read More
With concerns growing over when the Federal Reserve Bank will slow its quantitative easing and the subsequent effect on the economy, of 39 economists and investment advisors surveyed, nearly two-thirds do not think it will begin before Dec. 2013, and some not till 2014. As MHProNews has learned from CNNMoney,
Federal Reserve may Taper Stimulus Program this Year Read More
According to nationalmortggenews a report by the Dallas Federal Reserve Bank says home prices in Texas have recovered to seven percent above the pre-recession highpoint in 2007. One of just ten states to have reached that milestone, Texas is second only to North Dakota in the amount that today’s prices
Home Prices in Texas Rise above 2007 Levels Read More
After housing inventory hit low levels not seen in nearly ten years, HousingWire tells MHProNews national inventories rose by 5.82 percent in May over April, much better than last year’s increase for the same two months of 1.77 percent. In addition, the median list price rose 2.10 percent April to
Rising For Sale Inventory Balances Market Read More
As realestaterama informs MHProNews, 13 million people over 50 contend with unaffordable and/or inadequate housing. The AARP (American Association of Retired Persons) Foundation is investing $2.5 million in three different strategies that provide housing for the over 50 crowd who have limited means. One of the recipients is ROC (Resident
American Association of Retired Persons Funds Manufactured Housing Read More
