New-Home Sales Surge 5.7% in September New-home sales posted their largest gain in more than two years in September, the Census Bureau reported Wednesday. New-home sales rose 5.7 percent in September over August and are 27.1 percent higher year-over-year. The median price of a new home in September was $242,400, up 11.7 percent from a …
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Oct 24
Housing Shortages Plague Market
Housing Shortages Plague Market Buyer demand is up, but there aren’t enough homes available to buy, according to the National Association of REALTORS®, which blamed a recent drop in home sales on Housing Shortages of for-sale homes. “Recent price increases are not deterring buyer interest,” notes Lawrence Yun, NAR’s chief economist. “Rather, Housing Shortages are limiting sales, …
Oct 24
Fannie Mae on Housing: The Worst is Behind Us
Fannie Mae on Housing: The Worst is Behind Us Fannie Mae economists say they believe home prices “hit bottom” earlier this year and that prices and sales will continue to move up as more consumers enter the housing market. Economists with the mortgage giant are forecasting about a 9 percent rise in home sales this …
Oct 23
Home Inventories Are Selling Faster
Home Inventories Are Selling Faster. Home Inventories of for-sale homes aren’t the only thing that is dropping. The amount of time homes are staying on the market is growing shorter as well—down 11 percent in the last year—according to the latest Realtor.com data. Home Inventories were listed on average 95 days, according to September housing data. That …
Oct 23
Home builders may benefit from the drop in distressed properties
Home builders may benefit from the drop in distressed properties. “Fitch: Home builders to Get Boost From Falling Foreclosures” Home builders may benefit from the drop in distressed properties in recent months, which might spur greater activity in new-home construction, according to a new report by Fitch Ratings. Distressed home sales have hampered home prices …
Oct 18
Home builders Grow More Confident About Housing Recovery
Home builders Grow More Confident About Housing Recovery. Home builders confidence inched slightly higher in October, bringing it to its strongest level since June of 2006, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The October gain also marks the sixth consecutive month for increases in the index, which measures builder confidence …
Oct 17
Housing Appraisals Remain Big Hurdle.
Housing Appraisals Remain Big Hurdle. Housing Appraisals have been blamed on derailing a lot of sales in recent years. In fact, more than one-third of REALTORS® recently reported that deals were canceled, delayed, or renegotiated to a lower price due to a low appraisal. The National Association of REALTORS® has spoken out against faulty Housing Appraisals, …
Oct 17
House Flipping is Back!!
House Flipping is Back!! Buying up homes, rehabbing them, and reselling them for a profit was big during the housing boom. But when the housing market started to slump, these buyer interested in House Flipping and in search of quick profits nearly vanished. As the housing market recovers, house flipping may be showing signs of re-emerging, …
Oct 16
A New Housing Boom by 2015?
A New Housing Boom by 2015? The housing market has been showing several signs of recovery, including home prices and home sales on the rise, new construction up, foreclosures falling, and mortgage rates near record lows. Some economists are getting very bullish about a Housing Boom recovery and even predicting that the market will return …
Oct 12
Foreclosures Drop to 5 Year Lows
Foreclosures Drop to 5 Year Lows. Foreclosures continue to do the opposite of what most analysts had predicted: They keep falling rather than rising. Foreclosure filings in September fell 7 percent from August and are down 16 percent from last September, RealtyTrac reported Thursday. Foreclosure filings include default notices, scheduled auctions, and bank repossessions. The …
Oct 11
Wells Fargo Accused of ‘Reckless’ Lending
Wells Fargo Accused of ‘Reckless’ Lending. The government has filed a lawsuit in federal court against Wells Fargo, alleging the nation’s largest mortgage lender has engaged in a decade of regular “reckless origination and underwriting” of government-backed loans. The government’s lawsuit against Wells Fargo is the latest in its broad sweep against banks that cites …
Oct 11
Upbeat About Housing
Upbeat About Housing. Americans continue to get more optimistic and Upbeat About Housing, according to Fannie Mae’s September National Housing Survey of 1,000 Americans. In fact, Americans’ views on the direction of housing prices has remained positive for 11 consecutive months in the survey, and the number of people expecting home prices to fall now rests …
