According to the president of the Federal Home Land Bank (FHLB) of New York, Alfred DelliBovi says the need for affordable housing is becoming critical, especially as the availability of federal funds for housing decreases. As MHProNews has learned from nationalmortgagenews, each of the banks’ 11 districts has an Affordable […]
Affordable Housing Shortage is Critical; Dodd-Frank is “Deadening” Read More
Mortgage applications rose five percent for the week ending June 7, a turnaround from the 11.5 percent drop the previous week, according to what the Mortgage Bankers Association (MBA) tells HousingWire. Although 11 percent lower than the two weeks prior, and 36 percent below the high point at the beginning
Mortgage Applications and Rates on the Rise Read More
According to the National Association of Realtors (NAR), five to six million renter households will be created within the next ten years, as reported in HousingWire. The Census Bureau says renting households increased substantially from 2008 to 39 million, and that number will rise to 41 million in two years.
Rental Market Continues to Expand Read More
The demingheadlight informs MHProNews sales of single-family homes surpassed those of manufactured homes (MH) in Deming, NM in the southwest corner of the state in the last year. From May 2012 to June 2013 87 single-family homes were sold, as compared to 35 MH that changed hands in the same
Manufactured Home Sales Rise in New Mexico Read More
HousingWire reports a survey by Fannie Mae reveals ten percent more respondents in May than the previous month said it is a good time to sell a house, while five percent more said it is a better time to buy. Doug Duncan, chief economist at Fannie Mae, noting those who
Survey Says: Housing Market Perception Improves Read More
The nationalmortgagenews informs MHProNews the asking price for homes has risen 9.5 percent May 2012 to May 2013, according to the Trulia Price Monitor, with increases in 98 of 100 largest metro markets. By removing foreclosures from the equation, it jumps to 10.5 percent; but on a seasonally-adjusted basis prices
Asking Prices on the Rise Read More
Sales of manufactured housing have risen 34 percent this year in Ohio, says Tim Williams, Executive Director of the Ohio Manufactured Homes Association. According to what mydaytondailynews tells MHProNews, last year’s sales of manufactured homes homes increased by the greatest number in 22 years, rising 28 percent. In 2009 sales
According to the National Association Home Builders (NAHB)/First American Improving Markets Index (IMI), five U. S. housing markets have been added to the list of those returning to health in June. Based on housing permits, employment and house prices that have been improving for six months, “This is the fifth
Housing Markets Improving Read More
As HousingWire informs MHProNews, although the media is overflowing with glowing reports about the housing market recovery, it is not time to celebrate yet. CoreLogic reports April home prices were up 12 percent over April 2012, and 3.2 percent higher than March, but the market continues to need more move-up
Housing Recovery Still Tenuous Read More
In testimony before the House Energy and Commerce Committee’s Subcommittee on Commerce, Manufacturing and Trade, Rick Judson, Chairman of the National Association of Home Builders, said, “How lawmakers and regulators deal with tax reform, home energy codes and the availability of building materials will go a long way to ensure
Builders want Congressional Support Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews the Dept. of Housing and Urban Development (HUD) statistics reveal production of manufactured homes in April rose 14.7 percent over April 2012, 5,313 homes over 4,630. Total production for the year equals 18,173 homes, an increase of 4.2 percent over
April MH Production Rises Read More
Where any number over 50 indicates more builders see the market as improving rather than getting worse, the National Association of Home Builders (NAHB) Multifamily Production Index (MPI) dropped two points to 52, while still marking the fifth consecutive quarter with a reading over 50. The MPI measures construction of
Multifamily Sector Continues Rebounding Read More
According to what Trulia tells MHProNews, based on housing starts, existing home sales, and the delinquency/foreclosure rate, the housing market is 54 percent back to normal. April housing starts dropped to an annualized rate of 853,000, down 16 percent from March to the lowest level since Nov. 2012, putting it
Housing Recovery Still on Track Read More
The National Association of Home Builders (NAHB) reports HUD and Census Bureau figures show sales of newly-built single-family homes rose 2.3 percent in April to a seasonally-adjusted annual rate (SAAR) of 454,000 homes. “Today’s report is further evidence of the gradual, consistent improvement we have been seeing in housing market
New Home Sales Post Increase Read More
The National Association of Home Builders (NAHB) reports the inventory of newly-built homes because of the recession has led to both houses of Congress with legislation seeking to resolve some ongoing credit access problems for builders. S. 1002 Senators was introduced by Robert Menendez (D-NJ) and Johnny Isakson (R-Ga). Similar
Bipartisan Legislation will Ease Credit Access Read More
MHProNews has learned from CNNMoney the National Association of Realtors (NAR) released figures today that show total home sales rose 0.6 percent in April to just under an annual pace of five million, up nearly ten percent from a year ago. Lawrence Yun. Chief economist for NAR, noting consumer traffic
Total Home Sales Rise in April Read More
According to inman, estimates released by the National Association of Hispanic Real Estate Professionals (NAHREP) say proposed immigration reform would result in the purchase of 3,000,000 homes by Hispanics, generating over $500 billion in home sales. An additional $233 billion in commissions, fees and spending connected to home-ownership would further
Immigration Reform Could be Boon to Housing Industry Read More
Investors, hearing that the Federal Reserve may continue its Quantitative Easing policy, sent the Dow and the S&P to new highs during today’s trading session. CNNMoney reports the Dow Jones Industrial Average gained +0.34 percent, +52.3 points, to close the day at 15,387.58. The Nasdaq advanced +0.16 percent, +5.69 points,
Dow and S&P Hit New Highs; Tracked Housing Stocks Mixed Read More
Ahead of official forecasts by the National Association of Realtors (NAR) and the Commerce Dept., nationalmortgagenews informs MHProNews a survey of economists by Bloomberg reports new and existing home sales rose to a seasonally-adjusted-annual-rate (SAAR) of 5.41 million in April. This marks the highest number since Nov. 2009 when the
Housing Economists Project Positive News Read More
The nationalmortgagenews reports in a survey of credit unions responding to the QM Rule issued by the Consumer Financial Protection Bureau (CFPB), 44 percent say they will no longer originate non-qualified mortgages and another 44 percent will reduce originations. In the survey conducted by the National Association of Federal Credit
Credit Unions to Reduce Lending Read More
