housing outlook - Articles

Housing Crisis Over for Many Homebuilders

Rick Judson, owner of Evergreen Development Group, recalls the bottom of the housing crisis when home construction had plunged by more than 80 percent in some states, and many builders had either lost their jobs or were barely hanging onto them. Well, good news, he says: For many builders, those days are over. "The life... Continue Reading »

Robert Shiller Q&A: Housing Sage Says Prices Could Drop Further

WASHINGTON -- He predicted the tech-stock collapse. He foresaw the housing bust. So naturally, everyone wants to know what Robert Shiller thinks of today's stock prices, now perched at a four-year high. Or about the direction of home prices. Keep your hopes in check. Shiller is disinclined these days to offer specific... Continue Reading »

Report: Foreclosures Down, But Discounts Abound

LOS ANGELES -- Foreclosures made up a smaller slice of all U.S. homes sold in last year's third quarter, as banks delayed placing properties for sale and home sales slowed. Despite the decline, foreclosures still represented 20 percent of all homes sold in the July-September period -- about four times more than at the... Continue Reading »

Home Sales Rise to 11-Month High

WASHINGTON -- Home sales rose in December to the highest pace in nearly a year. The gain coincides with other signs that show the troubled housing market improved at the end of last year Still, sales remain depressed and ended 2011 well below healthy levels. The National Association of Realtors said Friday that sales... Continue Reading »

After Dismal Year, Homebuilders See Hope in 2012

WASHINGTON -- Builders ended 2011 with a third straight year of dismal home construction and the worst on record for single-family home building. But improvement at the end of the year lifted hopes for a recovery. In December, builders broke ground on a seasonally adjusted annual rate of 657,000 homes, the Commerce... Continue Reading »

Homebuilder Sentiment Rises to Highest Level Since 2007

WASHINGTON -- U.S. homebuilders are growing a little less pessimistic about the depressed housing market after seeing more people say they might be open to buying a home this year. The National Association of Home Builders/Wells Fargo builder sentiment index rose four points to 25 in January. That's the highest level... Continue Reading »

Construction Spending Builds, Thanks to Housing

WASHINGTON -- Construction spending jumped in November as builders spent more on single-family homes, apartments and remodeling projects. The Commerce Department said Tuesday that spending on construction projects rose 1.2 percent in November, following a revised 0.2 percent drop in October. The increase was the third in... Continue Reading »

Pending Home Sales Rise to Year and a Half High

WASHINGTON - The number of Americans who signed contracts to buy homes in November rose to the highest level in a year and a half. The best reading on pending homes sales since a federal home-buying tax credit expired appeared to encourage traders on Wall Street. Still, the National Association of Realtors cautioned that... Continue Reading »

Case Shiller: Home Prices Slide in Most Major Cities

WASHINGTON - U.S. home prices fell in most major cities for the second straight month, further evidence that the housing recovery will be bumpy and weigh on the broader economy in 2012. The Standard & Poor's/Case-Shiller index released Tuesday showed prices dropped in October from September in 19 of the 20 cities... Continue Reading »

Homebuilder Confidence Rises to Highest Level Since Spring 2010

WASHINGTON -- Rising interest from would-be buyers is leaving U.S. homebuilders less pessimistic about the housing market. But tighter lending standards are still keeping many potential buyers from purchasing new homes. The National Association of Home Builders/Wells Fargo builder sentiment index rose two points to 21 in... Continue Reading »

Is the Housing Bottom Finally in Sight?

By Jerome Idaszak Housing prices will stop sinking next spring. But recovery will be a gradual process -- too slow to help the economy much next year. Look for prices, which have fallen an average of 31 percent since 2006, to drop an additional 2 percent or so in the early months of 2012 and then recover that lost ground... Continue Reading »

Mortgage Delinquency to Drop Sharply in 2012, Report Says

NEW YORK -- If the U.S. economy does not suffer more setbacks, the rate of mortgage holders behind on their payments should decline significantly by the end of next year, according to credit reporting agency TransUnion. Mortgage delinquency rates -- the ratio of borrowers 60 or more days behind on their payments -- will... Continue Reading »

Pending Home Sales Jump to Year High

WASHINGTON -- The number of Americans who signed contracts to buy homes jumped in October to the highest level in a year. But the gain follows three months of declines and isn't enough to signal a housing recovery. The National Association of Realtors said Wednesday that its index of sales agreements rose 10.4 percent... Continue Reading »

Home Prices Stumble After 5 Months of Gains

WASHINGTON -- U.S. home prices are falling again in most major cities after posting small gains over the summer and spring, the latest evidence that the troubled housing market won't recover any time soon. The Standard & Poor's/Case-Shiller index released Tuesday showed prices dropped in September from August in 17 of... Continue Reading »

New Home Sales Stir, But Remain Sluggish

WASHINGTON -- Americans bought slightly more new homes in October, a hopeful sign for the troubled housing market. But the median sales price fell to its lowest level of the year, and the overall sales pace is trailing last year's -- the worst in half a century. The report suggests that housing continues to drag on the... Continue Reading »

Home Sales Perk Up, But Outlook Still Bleak

WASHINGTON -- The number of Americans who bought previously occupied homes rose slightly last month but remained at depressed levels. And more deals are being canceled at the last minute, a sign that even those who are looking to buy are worried about the housing market. Home sales rose 1.4 percent last month to a... Continue Reading »

Housing Market On the Rise in 2012, Expert Says

Gradual improvement in the housing market is expected next year, with existing-home sales edging up 4% to 5% and new home sales getting an even bigger boost off this year's record lows, the chief economist of the nation's largest real estate group said Friday. "Tight mortgage credit conditions have been holding back... Continue Reading »

Home Prices Drop in Nearly 3/4 of U.S. Cities

WASHINGTON -- Home prices dropped in nearly three quarters of U.S. cities over the summer, dragged down by a decline in buyer interest and a high number of foreclosures. The National Association of Realtors said Wednesday that the median price for previously occupied homes fell in the July-September quarter in 111 out of... Continue Reading »

Pending House Sales Fall for 3rd Straight Month

WASHINGTON -- The number of Americans who signed contracts to buy homes fell for the third straight month in September after the spring-and-summer peak buying season failed to entice new buyers. The National Association of Realtors says its index of sales agreements fell 4.6 percent last month to a reading of 84.5. A... Continue Reading »

New Home Sales Rise After 4-Month Decline

WASHINGTON -- Sales of new homes rose in September after four straight monthly declines, largely because builders cut their prices in the face of depressed demand. Analysts say the modest increase on the back of reduced prices suggests the struggling housing market is years away from a turnaround. The Commerce Department... Continue Reading »

Poll: Baby Boomers Willing But Unable to Move

WASHINGTON -- As baby boomers look ahead to retirement, they'd prefer a home that is affordable, accessible to medical care and close to family. But an Associated Press-LifeGoesStrong.com poll finds that amid a shaky economy, few think it's likely they'll move in retirement. Shelley Wernholm, a 47-year-old single mother... Continue Reading »

Pity the Homeowner Who Tries to Sell in These 10 Cities

The number of homes listed for sale in the largest cities in the country has fallen 20 percent in the past year, according to a report released last week by Realtor.com. While the number of homes on the market has dropped around the country, the average number of days that listed homes have been on the market has... Continue Reading »

Home Sales on Pace for Dismal Year

WASHINGTON -- The number of Americans who bought previously occupied homes fell in September. Home sales are on pace to match last year's dismal figures -- the worst in 13 years. The National Association of Realtors said Thursday that home sales fell 3 percent last month to a seasonally adjusted annual rate of 4.91... Continue Reading »

A Win-Win? Housing Inventory Down, Home Sales Up

National home sales and median price listings in September went up from a year ago with the home inventory down about 20 percent, according to multiple reports Thursday. These positive signals were offset by a continued slight downward trend in home sales prices, down 3.3 percent from a year ago according to RE/MAX. But... Continue Reading »

New Home Sales Tumble to Six-Month Low

WASHINGTON -- Sales of new homes fell to a six-month low in August. The fourth straight monthly decline during the peak buying season suggests the housing market is years away from a recovery. The Commerce Department said Monday that new-home sales fell 2.3 percent to a seasonally adjusted annual rate of 295,000. That's... Continue Reading »

A Tale of Two Housing Markets

In America, it's starting to feel as if there are two housing markets. One for the rich and one for everyone else. Consider foreclosure-ravaged Detroit. In the historic Green Acres district, a haven for hipsters, a pristine, three-bedroom brick Tudor recently sold for $6,000 -- about what a buyer would have paid during... Continue Reading »

Home Sales Rise As Buyers Grab Foreclosures

WASHINGTON -- The number of Americans who bought previously occupied homes rose in August. But sales were driven by an increase in foreclosures, evidence that the housing market remains weak. The National Association of Realtors says home sales rose 7.7 percent last month to a seasonally adjusted annual rate of 5.03... Continue Reading »

Housing Starts Drop as Home Construction Wavers

WASHINGTON -- Builders broke ground on fewer homes in August, a reminder that the housing market remains depressed. The Commerce Department said Tuesday that builders began work on a seasonally adjusted 571,000 homes last month, a 5 percent decline from July. That's less than half the 1.2 million that economists say is... Continue Reading »

Builders' Confidence Slips Again, Despite Low Mortgage Rates

Homebuilder optimism remains limited, despite historically low mortgage interest rates as demand just isn't there, according to the latest National Association of Home Builders index. The NAHB and Wells Fargo (WFC: 24.25 -2.81%) survey builders to gauge perceptions of the new, single-family home market for the next six... Continue Reading »

Young Workers See Sharpest Salary Drop, Flock Back Home

With the revelation that another 2.6 million Americans fell below the poverty line last year, the most unlikely victims of the recession might be parents' social lives. The New York Times reports that the group that saw the sharpest decline in median income was young Americans, between the ages of 15 to 24. What that means... Continue Reading »

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