stockrants states Zack’s Investment Research downgraded shares of Universal Forest Products, Inc., from neutral to underperform. Although their earning rose 123 percent year-over-year, it failed to meet Zacks’ estimate by two cents. The ongoing weakness in the residential construction and building materials market led to the top line falling 2.4 …
HousingWire reports from San Francisco that while the number of houses sold increased Sept. 2010 to Sept. this year by 6.6 percent, the usual Aug.-Sept. seasonal drop in home prices was 10.2 percent. John Walsh, president of DataQuick says what’s interesting is what is not happening. He says, “While there …
HousingWire reports the Mortgage Banker’s Association (MBA) says the measure of loan application volume rose 1.3 percent on a seasonally-adjusted basis this past week. The refinance and purchase indices each increased just over one percent, driven by government loans. The 30-year fixed-rate mortgage (FRM) increased 0.07% to 4.25, while the …
HousingWire reports from Zillow that housing prices gained a meager 0.01 percent August over July, with minimal gains in only 68 of the 157 markets covered. The average home price dropped 4.5 percent from August 2010 to $172,600, and is off 28.3 percent since the high mark of June 2006. …
RVBusiness says the Vancouver Sun reports a new community of factory-built micro cottages is being developed at Port Renfrew, British Columbia, in Canada. The first 40 unit phase of the Wild Coast Cottages Oceanside, each 400 square feet, is nearly sold out. The second, Water’s Edge at Wild Coast Cottages, …
villagesoup reports a survey of 3,000 renters and home owners showed 68 percent say it is a good time to buy a home, although the tight credit and uncertain job market continue to dog actual sales. “We thought people would be soured after watching home values fall, but instead we …
Would-be Homeowners Dream, Economy Screams, “Not Yet” Read More
MountainXpress reports that students from Asheville-Buncombe Technical Community College (A B Tech) in Asheville, North Carolina, have built a LEED (Leadership in Energy and Environmental Design) Certified house that they are selling to raise money for the school. The 280 square foot modular home, from the school’s Construction Management and …
HousingWire reports the Federal Housing Finance Agency (FHFA), the conservator of Fannie Mae and Freddie Mac, said home prices moved up slightly in July 0.8 percent, but are down for the year ending July 31 by 3.3 percent. Prices are 18.4 percent below the high point in April 2007, although …
Slight Increase in Home Prices Reflects Stagnant Housing Market Read More
Weak manufacturing date from China and concerns about Greece’s economy sent the Dow Jones Industrial Average plunging -3.51% to close at 10,733.83, a loss of -391.01 points. The Yahoo! Finance Manufactured Housing Composite Value declined .84% to 731.9, but housing stocks closed mixed. Affiliated Managers Group 78.56 -2.22 (-2.75%)). Clayton …
Stock Prices Fall 4% as Fear for Global Economy Dominates Market Read More
TruliaPro says the results of a recent survey show 80 percent of 2,207 American adults polled envision the purchase of a home in their lifetime. Despite the recent housing slump, concerns over employment, credit scores, and saving for a down payment, 65 percent of the respondents maintain home ownership continues …
HousingWire reports housing starts fell by 30,000 units on an annualized basis comparing July to August. August numbers show 571,000 starts, a drop of 5%, and a 5.8 percent decline from a year earlier when they hit 606,000 units on an annualized basis. Single-family unit starts dropped 1.4% for August, …
Housing Starts Fall in August, but Building Permits Rise Read More
Earth Techling reports that one of the entries in the U.S. Department of Energy’s Solar Decathlon 2011 is an E-Cube from Ghent University in Belgium. It is designed for people with limited construction experience who want highly efficient, modular homes that they can assemble themselves. Low on gadgetry, and made …
Modular E-Cube One of 30 Entries in Solar Decathalon Read More
The National Association of Home Builders (NAHB) says its monthly survey of builders’ confidence in the new home market showed a decline of one point from August’s rating of 15. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) has not gone above 16 nor dropped below 13 …
Second Act says Harvard University’s Joint Center for Housing Studies predicts the number of houses headed by persons over 65 will jump 35 percent in the next ten years as Baby Boomers age. Most seniors prefer to age in their own homes, or downsize and move to be near family, …
Aging in Place Boomers Will Require Home Modifications Read More
LinkedIn reports Lawrence Yun, chief economist with the National Association of Realtors (NAR), projects previously-occupied homes sales will slowly rise through 2012. Yun says the rising path will be uneven. Speaking at the Realtors® Midyear Legislative Meetings & Trade Expo, he says, “If we just hold at the first-quarter sales …
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports that builder confidence in July for newly-built, single-family homes rose two points in July over June. While the June number had dropped three points from the previous month, this marks the ninth time out of the last …
Business Insider reports the U.S. is on track this year for the lowest number of total housing completions since the Census Bureau started keeping records of completions. In 2005, 1,878,200 single family and multifamily dwellings were added to the nation’s housing stock, including 146,800 manufactured houses. This figure included an …
The National Association of Home Builders (NAHB) says figures released by the U.S. Commerce Department show housing starts for single and multifamily homes increased in June 14.6 percent to a seasonally-adjusted rate of 629,000. Bob Nielsen, chairman of NAHB, called it an encouraging sign, but also noted that lack of …
YourHomeCanada says a company named Modular Additions is busy adding modular second storeys to many of the pre- and post-WWII bungalows that dot Toronto. Owner Vadja Jericevic says there are about 13 basic designs among the 70,000 bungalows in Toronto, and he has drawn up plans for each that can …
The National League of Cities reports the Joint Center for Housing Studies at Harvard University says the availability of affordable housing for lower income families continues to fall as the demand increases. The affordable rental housing stock is declining due to abandonment of older buildings and conversion of property to …
Affordable Rental Housing Availability Declines as Demand Increases Read More
