Median Home Prices Hit Seven Year High: The National Association of Realtors (NAR) recently reported in their quarterly findings that the median home prices in the fourth quarter of 2012 showed its highest year-over-year increase in seven years. The median existing single family home prices rose in 133 of the 152 metropolitan statistical areas (MSA’s). […]
In his “State of the Union” address this week, President Obama indicated that although the housing market is “healing”, tight mortgage lending conditions are holding the economy back and this needs to be fixed. Furthermore, the president asked Congress to send him the bill which would give “every responsible homeowner in America the chance to […]
A number of articles of late have alluded to changes that may be happening in the mortgage industry. These possible changes include mortgage products becoming more available and more creating programs being available. Changes to the lending requirements could include lower FICO scores as well as creative programs for individuals who lost their home to […]
Is it better to buy resale or buy new? Buyers need to look at all the financial factors – not just the monthly mortgage and property taxes. They should also consider the cost of maintenance and utilities. Just how much of a difference can this make? To read the whole article from the National Association […]
The Federal Reserve’s Beige Book says new construction is on the rise! All Federal districts except one (Kansas City District) reported that residential construction is expanding. The Fed’s positive outlook on new construction is consistent with the positive outlook for real estate sales.
The latest release from the Census Bureau’s Manufacturing and Construction Division shows that the annual rate of starts in building five or more units was 285,000. This is an increase from October and is currently the highest this measure has been since July, 2008. It is still not as high as the multi-family housing boom […]
Appreciation rates in 2013 will hit record high levels in some areas, even surpassing the surge in appreciation rates in 2005-2006. The strong surge is not only driven by strong demand, but because we are so far behind in our new housing starts … so much so that we cannot catch up in 2013. In […]
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No Comments » The 55 plus market is showing strong signs of recovery. There are three segments of the 55 plus market which include: single family housing, multifamily housing and rental housing. In the 3rd quarter of 2012 the single family segment showed significant improvement in the demand for new homes. The 2012 55 plus index tripled over […]
Just when we thought our inventory challenges couldn’t get any worse … well they can. The Mortgage Bankers Association reported that delinquency rates fell 18 basis points in the third quarter of 2012 to 7.4%. This lower rate was driven by a drop in loans 90 days or more past due. The foreclosure inventory rate […]
Posted in Real Estate Industry News Tags: industry news, news, real estate industry news No Comments » HOUSING MARKET SHOWS CONTINUAL IMPROVEMENT The National Association of Home Builders reported that the list of expanding markets has increased by 22 to a total 125 markets. The Improving Markets Index (IMI) identifies improvement in metropolitan areas in single family housing permit growth (US Census Bureau), employment (Bureau of Labor Statistics), and house price appreciation […]
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