Single-family housing starts fell 5 percent as compared to March 2011, and 30 percent as compared to April one year ago.
Home Builders Seeing More Sales Today; Fewer Sales Tomorrow
Home builder confidence can’t shake its range, according to the National Association of Home Builders. The group’s monthly Housing Market Index put May’s builder confidence reading at a level of 16.
My Home Is Flooded. What Do I Do?
Flood waters can strike any city, in any state, at any time. According to FloodSmart.gov, floods are the #1 most common disaster in the United States. $709 million in flood insurance claims were paid to households, businesses, and renters in 2010 — more than one-third of which went to people outside of “high-risk areas”.
Rising Retail Sales Threaten Low Mortgage Rates
Thursday, the Census Bureau released the April Retail Sales report. Excluding cars and auto parts, retail receipts rose for the 10th straight month and, at $321 billion, reached an all-time high.
Foreclosure Filings Fall To 40-Month Low
Based on data from foreclosure-tracking firm RealtyTrac, foreclosure filings nationwide fell below 220,000 in April 2011, a 9 percent decrease from March and the lowest total in 40 months.
Conforming ARMs From 2004-2006 Are Adjusting To 3 Percent
If you have an adjustable-rate mortgage that’s due to reset this season, don’t rush to refinance. For at least one more year, you can benefit from low rates and low payments. As for the next adjustment, though, that’s anyone’s guess.
What To Fix Before You List
You want your home to “show nicely”, but without investing big dollars into upgrades or renovations. So what do you do?
Getting More Educational Bang For Your Housing Buck
A recent joint report from Forbes and GreatSchools debunks a powerful myth in housing. There’s little correlation between Public School Quality and the Median Price Point for a home.
Foreclosures And Short Sales Distorting “Home Price Trackers”
The Federal Home Finance Agency data had home values down 1.6 percent nationwide in February, on average, marking the fourth straight month in which prices fell.
Job Growth Returning To “Normal” Levels — A Bad Sign For Mortgage Rates
Be prepared for Friday morning. Mortgage rates and home affordability could worsen quickly. At 8:30 AM ET, the Bureau of Labor Statistics releases its April Non-Farm Payrolls report and momentum has been strong.