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Unemployment Rate Continues Downward Trend In December
Often cited as a key factor in the housing market's recovery, the national unemployment rate continued to trend downward in December. According to the U.S. Department of Labor, the unemployment rate fell to 8.5 percent as the economy added 200,000 jobs. The drop...
Economic Forecast Calls For Improved Housing Market In 2012
In an economic forecast posted to Freddie Mac's Executive Perspectives Blog, Frank Nothaft, Freddie Mac's chief economist, says 2012 should see improvement in both the general economy and the housing market. Nothaft expects new construction and home sales to increase...
Mortgage Application Demand Ends Year 39 Percent Above 2010
According to the Mortgage Bankers Association's Weekly Applications Survey, the Market Composite Index, which measures total mortgage loan application volume, was 39 percent higher in the last two weeks of 2011 than at the end of 2010. But despite the year-over-year...
Housing Market Headed In The Right Direction
According to Fannie Mae's Economic and Mortgage Market Analysis Group's most recent news release, the housing market is headed in the right direction based on economic activity during the fourth quarter of 2011. The end of the year saw economic growth of more than 2.5...
Pending Home Sales Reach Highest Level In 19 Months
The National Association of Realtors' Pending Home Sales Index rose 7.3 percent to 100.1 in November and is 5.9 percent above last year's levels. The improvement brought pending sales to their highest level since April 2010 when the homebuyer tax credit was about to...
Positive Economic Indicators End Year On High Note
Positive economic indicators have economists expressing cautious optimism for the housing market in the year ahead. As the year ends, housing prices appear to have stabilized, supply is on the decline, and banks are beginning to loosen lending standards. According to...
Study Examines Americans’ Attitudes Toward Purchasing A Home
According to a study from the Mortgage Bankers Association titled The Great Recession and Attitudes Toward Homebuying, nearly 80 percent of American households believe now is a good time to purchase a home. The research examined consumer attitudes toward homeownership...
New Home Sales Up 10 Percent From 2010
The U.S. Census Bureau and the Department of Housing and Urban Development’s New Residential Sales report for November shows sales of new single-family homes rose 1.6 percent over October’s pace to a seasonally adjusted annual rate of 315,000. The improvement puts...
Existing Home Sales Continue Rising In November
According to estimates from the National Association of Realtors, existing home sales, including single-family, townhomes, condominiums, and co-ops, rose 4.0 percent in November over October's rate and were up 12.2 percent over the 3.94 million-unit pace in November...
Housing Starts Surge in November
In November, privately-owned housing starts rose 9.3 percent and reached their highest level in a year and a half. According to The U.S. Census Bureau and the Department of Housing and Urban Development, the spike in residential construction drove total housing starts...