Building Permits Hit 5 Year High
May 20th, 2013
The Commerce Department said¬†Thursday¬†that applications for building permits rose 14.3 percent to a rate of 1.02 million, the most since June¬†2008.
Builders are benefiting from a sustained rebound in housing that began a year ago. Steady job growth, rock-bottom mortgage rates and rising home values have boosted¬†demand.… Read the Rest –>
Fannie Mae Profit Points to Growing Housing Market
May 13th, 2013
Remember Fannie Mae?¬† They and Freddie Mac were both placed into receivership because they were loosing so much money but had to remain open because if they shut down there would be no mechanism to make and securitize mortgages to the vast majority of Americans.… Read the Rest –>
Housing Recovery Shows Up In Job Gains
May 6th, 2013
Believe it or not, interest rates do not drive housing demand.¬† Jobs do.¬† We have had some of the hottest housing markets on record when Unemployment Rates were low but interest rates where high.¬† Simply speaking – if you feel more secure about your job, you are more likely to purchase a home.… Read the Rest –>
Pending Home Sales jump 7% from a year ago
April 29th, 2013
Contracts to buy existing homes rose in March, and would have increased even more it it wasn’t for a¬†historically low supply of for-sale listings nationwide.
The Pending Home Sales Index from the National Association of Realtors increased 1.5 percent month to month which was better than the 1.0 percent increase that economists expected.¬†… Read the Rest –>
Housing Starts Top 1 million for first time in 5 years:
April 22nd, 2013
U.S. homebuilders broke the 1 million mark in March for the first time since June 2008. The gain signals continued strength for the housing recovery at the start of the spring buying season.As we have been reporting for over a year, home prices are rising.¬†… Read the Rest –>
Bidding Wars are Back
April 8th, 2013
What to Watch Out For This Week:
The bidding wars are back. Seemingly overnight, many of the nation’s major housing markets have gone from stagnant to sizzling, with for-sale listings drawing offers from a large number of house hunters.
In March, 75% of agents with broker Redfin said their clients’ offers were countered by rival bids, up from 56% who said so in late 2011.… Read the Rest –>
Pending Home Sales Rise 8.4%
April 1st, 2013
The National Association of Realtors reported that their index of Pending Home Sales rose 8.4% from February 2012 and was constrained only by the lack of inventory available for sale.
Thinking about buying a home in 2013?¬† This is not the same market where you can take your time and view many different homes.¬†… Read the Rest –>
Existing Home Sales Hit 3 Year High, Home Prices Rise
March 25th, 2013
U.S. home resales (the largest segment of the housing market) hit a three-year high in February and prices jumped, adding to signs of an acceleration in the housing market recovery.
The National Association of Realtors said on Thursday existing home sales increased 0.8 percent to an annual rate of 4.98 million units last month,¬†the highest level since November 2009.… Read the Rest –>
Jumbo Loans Availability and Rates Point To Growing Housing Market
March 18th, 2013
Even as mortgage rates begin to rise, the difference between conforming and jumbo loan rates is shrinking, and that is good news for buyers of higher-priced homes. Conforming loans are largely financed by Fannie Mae and Freddie Mac, and are valued at up to $417,000 ‚ÄĒ although they can be as high as $625,000 in some of the nation’s pricier markets.… Read the Rest –>
Labor Costs to Push Up Housing Prices
March 11th, 2013
Housing starts are up 24 percent from a year ago, but residential construction employment is up only 3.1 percent, according to the U.S. Commerce and Labor Departments.
During the slow down in new construction, wages were cut or laid off workers naturally sought out other jobs.¬†… Read the Rest –>