Blog
Foreclosure Rates Trend Downward
The nation's foreclosure filings dropped to 442,117 filings in 2013, 23% lower than this time last year. According to RealtyTrac, a real estate data firm, foreclosure filings fell to the lowest level since 2007. The trend is expected to increase each month as the...
Unemployment Applications Decrease By 42,000
According to the Labor Department, weekly unemployment aid applications fell by 42,000 last week showing improvement in job growth. Last month, employers added only 88,000 jobs while in February 220,000 jobs were added to the market. The Labor Department spokesman...
Home Sales Increase 2.4%
According to recent data, the number of homes for sale in the U.S. increased approximately 2.4% from February to March. Inventory is down around 15% from this time last year causing home prices to rise. However, spring season is here and is expected to help fuel home...
Stress Tests Mark Economy Restoration
Ben Bernanke, the Federal Reserve Chairman, stated that the United States economy and banks are strengthening.. The Government conducted a series of confidence-building stress tests called SCAP, the Supervisory Capital Assessment Program. Bernanke said, "the results...
Expectations Remain High For Home Prices
The nation's home price expectations are high according to a recent survey conducted by Fannie Mae. 48% of respondents expect home prices to rise over the next year compared to only 35% last year. Fannie Mae’s chief economist, Doug Duncan said, “despite an uptick in...
Construction Employment Grows 3.8%
According to the Department of Labor, construction employment has shown considerable improvement. As housing starts gain momentum, construction jobs are following behind accordingly. The chief economist at Capital Economics, Paul Ashworth said, "we’ve seen...
Rental Prices Across The Country Increase 3.4%
Apartment rental prices are steadily rising in the United States. The average monthly rent has increased 0.5% from last quarter. According to a real estate research firm, Reis Inc, the nation's average rent is approximately $1,054 a month. Multi-family housing vacancy...
Vacation Property Sales Fuel Housing Market
According to the National Association of Realtors, 11% of 2012's property transactions stemmed from vacation properties, leading to a 10% increase from 2011. Lawrence Yun, the NAR's Chief Economist said, “we had a strong stock market recovery, which helps more...
Fannie Mae Experiences Large Revenue Increase
The United States housing market is continuing to make significant improvement. Residential construction businesses, as well as many real estate companies, continue to experience positive growth this year. A recent report released from Fannie Mae stated that the...
FHA Insured Loan Applications Grow 16%
According to the Federal Housing Administration's most recent outlook, insured loan applications have continued to increase, jumping 16%. The improvement is due to the higher number of homes being purchased and the rise in refinance filings. Mortgage insurance...