Spending by homeowners on improvement projects is expected to accelerate as the year progresses, according to the Leading Indicator of Remodeling Activity (LIRA) released recently by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Soaring production of multifamily apartments pushed nationwide housing starts beyond the million-unit mark for the first time since 2008 in March, according to newly released figures from HUD and the U.S. Census Bureau.
Facing increasing costs for building materials and rising concerns about the supply of developed lots and labor, builders registered less confidence in the market for newly built, single-family homes in April, with a two-point drop to 42 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released recently.
With tight mortgage lending standards preventing well-qualified home buyers from obtaining home loans and impeding the housing and economic recovery, the National Association of Home Builders (NAHB) expressed support for congressional efforts to reform the Federal Housing Administration (FHA) but urged lawmakers to proceed in a cautious manner to avoid any disruptions to the nation's housing finance system.
Sales of newly built, single-family homes declined 4.6 percent to a seasonally adjusted annual rate of 411,000 units in February from a strong pace of 431,000 units in the previous month, according to newly released figures from HUD and the U.S. Census Department.
Following seven consecutive months of gains, the list of improving U.S. housing markets remained virtually unchanged in April, with 273 metros on the National Association of Home Builders/First American Improving Markets Index (IMI), recently released .
Vacation home sales improved in 2012, while investment purchases remained elevated for a second consecutive year, according to the National Association of Realtors.
During New Homes Month in April, the National Association of Home Builders (NAHB) is showing home buyers why they can afford a higher-priced home--if it's new construction.
Sales of newly built, single-family homes declined 4.6 percent to a seasonally adjusted annual rate of 411,000 units in February from a strong pace of 431,000 units in the previous month, according to newly released figures from HUD and the U.S. Census Department. Despite the slight decline, this is the second highest monthly total since April 2010 when the federal home buyer tax credit expired.
February pending home sales flattened with limited buyer choices, but remained at the second highest level in nearly three years, according to the National Association of Realtors.