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Once-tentative signs of a housing recovery are hardening into a more solid foundation, lifting prospects for a sector that's been a major drag on the economy.
The latest signal came from existing-home sales, which rose 3.4% in April vs. March, according to National Association of Realtors data out Tuesday. While the annualized rate of 4.62 million units was slightly below forecasts, the gains were broad and echoed reports of rising new home sales and construction.
"There is a…Continue
Added by Realty Associated on May 28, 2012 at 11:30am — No Comments
WASHINGTON - -- Confidence among U.S. builders rose to the highest level in five years in May, a hopeful sign that modest improvement in the housing market will pick up.
The National Association of Home Builders/Wells Fargo builder sentiment index rose to 29 in May. That's the highest reading since May 2007 and up from a downwardly revised reading of 24 in April.
The index rose for six straight months…
Added by Lillian Wong on May 21, 2012 at 6:00pm — No Comments
Townhouses and single-family homes are sprouting on old industrial sites in the heart of Southern California cities. In Florida, developers are coveting foreclosed golf courses in urban centers to put up new subdivisions. Builders in Texas are going after available land even near landfills for residential and retail development.
Why are the giants of the building industry, the creators for decades of massive communities of cookie-cutter homes, cul-de-sacs and McMansions in far-flung…Continue
Added by Realty Associated on May 18, 2012 at 10:12am — No Comments
Home builder morale rose to a five-year high in May and is better than it was during the mild winter months, suggesting the recent rally isn't just a weather-related anomaly.
The National Association of Home Builders sentiment index climbed to 29 from 24 in April. Readings for current conditions, the six-month outlook and traffic also rose, nearing or besting winter highs.
In intraday trading, Lennar (LEN), D.R. Horton (DHI) and KB Home…
Added by Realty Associated on May 15, 2012 at 11:24am — No Comments
Delayed mortgage payments are decreasing faster in Arizona than in any other state, indicates a new report.
Arizona delinquencies on past-due home loans fell by one-fourth over the 12 months ending in March, reports credit-researcher TransUnion.
That gave Arizona the nation's best delinquency-improvement rate, though the percentage of past-due home loans here remains above the national average, TransUnion said Wednesday.
Arizona's mortgage-delinquency rate fell to 6.86…Continue
Added by Realty Associated on May 13, 2012 at 1:09pm — No Comments
Mortgage rates are even lower than they were a year ago, falling to an average of 4% from 5%, and has people questioning whether they should take the plunge – even take the plunge again. Experts advise considering the breakeven period in which a lower rate will save money, noting that one of the biggest deciding factors should be the odds on how long a homeowner will stay in the home. Homeowners are urged to use a “Refinance Breakeven Calculator” to determine this point. Other factors…Continue
Added by Realty Associated on May 10, 2012 at 5:04pm — No Comments
As real estate market analysts debate whether U.S. home prices have finally found a bottom, which would signal a recovery is taking hold, some experts are arguing the difference between a home’s price and its value to a buyer. Economists note that homes have historically been poor investment vehicles when considering the alternatives, and that buyers should focus on a home’s value as measured by the quality of life and utility that it delivers to buyers. Deciding this often comes down to a…Continue
Added by Realty Associated on May 10, 2012 at 8:30am — No Comments
NEW YORK (CNNMoney) -- Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.
With home prices down 34% nationally since 2006 and mortgage rates at historic lows, homes have…Continue
Added by Realty Associated on May 4, 2012 at 9:30am — No Comments