market analysis: In depth market analysis - March 21st, 2011
- 03/21/11 08:50 AM
QUOTE OF THE WEEK..."To a journalist, good news is often not news at all."--Phil Donahue INFO THAT HITS US WHERE WE LIVE...Well, journalists had plenty of their kind of news to write about with last week's housing reports. The bad stuff began with February Housing Starts dropping 22.5% to a level close to the April 2009 low, which was the lowest on record. Most of the drop was from multi-family starts, which are volatile on a monthly basis. Single-family starts were down 11.8%. New Building Permits fell 8.2% for February. This gauges activity a few months out, indicating starts in the … (0 comments)
market analysis: In Depth Market Analysis - March 14, 2011
- 03/14/11 03:23 PM
QUOTE OF THE WEEK..."An economist's guess is liable to be as good as anybody else's."--Will Rogers INFO THAT HITS US WHERE WE LIVE...Last week there was no guessing involved in the Mortgage Bankers Association (MBA) report that applications for purchase mortgages hit their highest level of the year. The MBA credited this to the improving job market and mortgage rates remaining at super low levels. This demand for purchase mortgages was up 12.5% from the week before and at its highest level since last May. Freddie Mac's weekly survey of conforming mortgages showed mortgage rates pretty much unchanged, at historically low levels … (2 comments)
market analysis: In Depth Market Analysis - March 7, 2011
- 03/07/11 08:21 AM
QUOTE OF THE WEEK..."There are no constraints on the human mind, no walls around the human spirit, no barriers to our progress except those we ourselves erect."--Ronald Reagan INFO THAT HITS US WHERE WE LIVE...We should be especially careful to not erect barriers to our progress just because of a minor setback, like the one we had with last week's Pending Home Sales. The National Association of Realtors (NAR) index of signed contracts on existing homes slipped in January for the second month in a row. But the drop wasn't as bad as expected and, as the NAR's chief economist said: … (3 comments)
market analysis: In-depth market analysis - February 28, 2011
- 02/28/11 07:33 AM
QUOTE OF THE WEEK..."We would like to live as we once lived, but history will not permit it."--John F. Kennedy INFO THAT HITS US WHERE WE LIVE...Things do keep changing, but we all hope that by and large those changes mean progress. We certainly saw evidence of that in the housing market last week, as Existing Home Sales headed up in January for the third month in a row. They've now reached a 5.36 million annual rate, close to the long-term trend of 5.5 million and up over 5% from a year ago. This, as Martha Stewart says, is "a good thing," … (0 comments)
market analysis: In Depth Market Analysis - February 21, 2011
- 02/21/11 03:31 PM
Quote of the week... "I've been blamed for just about everything that's wrong with this country."--Elvis Presley INFO THAT HITS US WHERE WE LIVE... We who work in the real estate and mortgage industries know exactly how Elvis felt. The same people who unfairly blamed us totally for the recession now look to us alone for signs the economic recovery has taken hold. They might want to remember the health of the housing market is directly dependent on the health of the jobs market, which is not under our control. In any case, everyone felt better last week when January Housing … (4 comments)
market analysis: In depth market analysis - February 7, 2011
- 02/07/11 07:33 AM
INFO THAT HITS US WHERE WE LIVE... There's good news in the latest housing market forecast for 2011 from the National Association of Realtors (NAR). After dipping 4.8% last year, sales of existing homes are predicted to grow 7.9% this year, to 5.3 million. The gain for 2012 is forecast to be a little less, up 4.5%, to 5.53 million. The existing home median price went up 0.3% in 2010, a nice recovery from the 12.9% price drop of 2009. For 2011, the NAR sees it rising 0.5%, to $173,000, then another 2.4%, to $177,900, in 2012. New home sales are forecast to … (0 comments)
market analysis: In depth market analysis
- 01/31/11 07:04 AM
>> Market Update INFO THAT HITS US WHERE WE LIVE... Wednesday saw December New Home Sales UP 17.5%, blowing away forecasts with a 329,000 annual rate. The supply of new homes dropped to 6.9 months and the new homes inventory slid to 190,000, down 66.8% from its 2006 peak and at the lowest level since 1968. More good news came with an 8.5% boost in the median home price versus a year ago, to $241,500, its highest level since April 2008. The average home price registered a 4.7% gain compared to a year ago. Speaking of prices, the Case-Shiller home … (0 comments)
QUOTE OF THE WEEK..."To a journalist, good news is often not news at all."--Phil Donahue INFO THAT HITS US WHERE WE LIVE...Well, journalists had plenty of their kind of news to write about with last week's housing reports. The bad stuff began with February Housing Starts dropping 22.5% to a level close to the April 2009 low, which was the lowest on record. Most of the drop was from multi-family starts, which are volatile on a monthly basis. Single-family starts were down 11.8%. New Building Permits fell 8.2% for February. This gauges activity a few months out, indicating starts in the … (0 comments)
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