Home prices in the United States found their floor during the early part of 2010 and are expected to begin trending upward next year, according to a panel of elite economists surveyed by the National Association for Business Economics (NABE) for its October 2010 Outlook. “The housing recovery is intact, but tepid overall. Home prices […]
Housing Affordability The Highest in More Than 40 Years
With interest rates continuing to decline to new record lows and home prices being down in most places around the country, a new report from Beacon Economics finds that buying a home is more affordable than it has been in roughly two generations. Using median incomes and home prices, the company said that an average […]
August Housing Starts Jump 10.5%
According to the Commerce Department, new construction of U.S. houses is estimated to have surged in August. Starts rose 10.5% in August to a seasonally adjusted 598,000 annualized units, much stronger than the 535,000 pace expected by economists surveyed by MarketWatch. This is the highest level since April. Starts in July were revised down slightly […]
Home-Price Outlook Brightens
Housing economists have grown less bearish in their outlook for home prices this year but are becoming gloomier in their views for 2011, according to a new survey. On average, economists expect home prices to fall by 0.8% in 2010, which means they would have to drop by 2.2% during the second half of the […]
Houses for Less Than the Price of a Used Car?
Now that the real estate bubble has burst in some markets, you just might be able to find real estate for less than the cost of a used car. Stacy Johnson explains… Have questions or comments? We’d love to hear from you. Just use the ‘comment’ link below to contact us.
Housing Construction Rises in July
A weak housing market received a tiny boost from apartment construction last month. But the overall outlook remained dim as applications for building permits fell to the lowest level in 14 months. Construction of new homes and apartments rose 1.7 percent last month, according to the Commerce Department. Driving the increase was a 32.6 percent […]
More Evidence of a Bottom in Housing
More Evidence of a Bottom in Housing According to recently released data, U.S. housing starts have risen 30% from their all-time low in April '09. In addition, building permits increased 38% over the same period. And not surprisingly, the Bloomberg index of home builders' stocks bottomed last July and has since risen over 50%. The […]
Making Sacrifices in a Tough Economy
Making Sacrifices in a Tough Economy More than two thirds of Americans who’ve been unable to sell their home and buy one better fitting their needs have cut back on household expenses such as food, entertainment and clothing in order to pay their mortgage. Homeowners who have fallen on financial hard times have made other […]
Home Prices Drop for Seventh Straight Month
Home Prices Drop for Seventh Straight Month Integrated Asset Services, LLC (IAS) reported recently that its benchmark for national house prices fell 0.6 percent in February. The drop marked the seventh straight monthly decline reported by the collateral valuation firm and pushed its home price gauge to April 2004 levels. With the February decline, the […]
Pending Home Sales Down – Severe Weather To Blame
Pending Home Sales Down – Severe Weather To Blame Pending home sales are down and additional declines are expected from abnormal weather conditions, according to the National Association of Realtors®. Moreover, the abnormally severe and prolonged winter weather, which affected large regions of the U.S., hampered shopping activity in February. The Pending Home Sales Index, […]
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