Blog
Existing Home Sales Rebound in March
Existing home sales increased 3.7 percent in March from February's estimates, according to The National Association of Realtors. And, though sales of previously owned homes were down 6.3 percent from last year's pace, the homebuyer tax credit led to elevated sales...
Mortgage Loan Demand Increases as Rates Fall
According to The Mortgage Bankers Association's Weekly Applications Survey, demand for mortgage loan applications rose 5.3 percent last week. The seasonally adjusted Purchase Index was up 10.0 percent from the week before, reaching its highest level since December....
Housing Construction, Building Permits Surge in March
Construction of single-family homes climbed 7.7 percent in March, according to the U.S. Census Bureau and the Department of Housing and Urban Development. Total housing starts rose 7.2 percent above February's estimates. Building permits, an indicator of future...
Builders Say 1st-Time Buyers Driving New Home Sales Traffic
The National Association of Home Builders/Wells Fargo Housing Market Index dropped a point in April, after rising to 17 in March. The Index has now been at 16 for five of the past six months. The monthly survey gauges builder perceptions of the market for newly built,...
Americans View Homeownership As Top Long-Term Investment
According to a telephone survey of 2,142 adults from the Pew Research Center, 81 percent say that homeownership is the best long-term investment a person can make. The survey, conducted from March 15 to March 29, found that, among homeowners who say their home is...
Talk About a Desparate Seller!
Fannie Mae has thousands of foreclosed properties for sale. In desparation to get these homes sold, they are being offered at very attractive prices and with as little as a 3% down payment. This program is called the HomePath program and information can be found at...
Q1 Foreclosure Activity Plunges 27 Percent From 2010
During the first quarter of 2011, foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, were reported on 681,153 properties, a 27 percent drop from a year ago. According to RealtyTrac's U.S. Foreclosure Market Report, the...
Mortgage Application Volume Falls As Rates Rise
According to The Mortgage Bankers Association's Weekly Applications Survey, the Market Composite Index, which measures total mortgage loan application volume, fell 6.7 percent last week from the week before. The average contract interest rate for 30-year fixed-rate...
Housing Inventory Rises For Sales Season
The number of homes for sale has increased in preparation for the spring-selling season. According to Altos Research's 10-City Composite Index, inventory was up nearly 3.0 percent in March and just under 7.0 percent since the beginning of the year. Inventory typically...
Economists Expect Accelerated Growth, Strengthening Recovery This Year
According to 56 economists polled by The Wall Street Journal, economic growth should accelerate later this year, despite disappointing first-quarter data. Respondents cited bad weather, the earthquake in Japan, and rising oil prices for slower-than-expected growth in...