Nationwide housing production gained 2.6 percent from an upwardly revised pace in March to hit a seasonally adjusted annual rate of 717,000 units in April, according to newly released figures from the U.S. Census Bureau and the U.S. Department of Housing & Urban Development (HUD). This modest gain was seen in both the single- and multifamily sectors, which registered growth of 2.3 percent and 3.2 percent, respectively.Click to continue

Mortgage applications increased 9.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 11, 2012. The Market Composite Index, a measure of mortgage loan application volume, increased 9.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 8.7 percent compared with the previous week. The Refinance Index increased 13 percent from the previous week.Click to continue

Pro Teck Valuation Services' May HomeValueForecast.com Update explores important housing indicators, such as the number of home sales and months of remaining inventory (MRI) and their impact on home prices nationwide and in select markets. May's HomeValueForecast.com demonstrates that many metro areas hardest hit by price declines may be recovering due to increasing home sales and reduced inventories of homes. Also, the U.S. housing market is stabilizing according to leading MRI indicators.Click to continue

The U.S. Department of Housing & Urban Development (HUD) has released two reports on the impact of HUD-approved housing counseling has for those families who purchase their first homes and those struggling to prevent foreclosure. In both studies, HUD found housing counseling significantly improved the likelihood homeowners remained in their homes. Both the pre-purchase counseling and foreclosure counseling studies enrolled clients in the fall of 2009 and early 2010.Click to continue

The National Association of Realtors (NAR) composite quarterly Housing Affordability Index (HAI) rose to a record high of 205.9 in the first quarter of 2012, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power. This is the first time the quarterly index broke the 200 mark; recordkeeping began in 1970.Click to continue

Builder confidence in the market for newly built, single-family homes gained five points in May from a downwardly revised reading in the previous month to reach a level of 29 on the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), the HMI's strongest reading since May of 2007.Click to continue

At the Realtors 2012 Midyear Legislative Meetings & Trade Expo, former Republican National Committee Chairman Michael Steele, leading Democratic strategist Celinda Lake, and National Economic Council Director Gene Sperling provided their insights into issues affecting the long-term direction of the country.Click to continue

The income and business of Realtors is growing after many years of decline, according to the 2012 National Association of Realtors Member Profile. The study’s results are representative of the nation’s Realtors, who are members of NAR. Realtors account for about half of the two million active real estate licensees in the U.S., as NAR members subscribe to the association's Code of Ethics and Standards of Practice, commit to continuing education and have access to professional resources to better serve the needs of clients.  Click to continue

Residential Capital LLC (ResCap), a subsidiary of Ally Financial Inc., has announced that its Board of Directors voted to file for Chapter 11 protection along with 50 of its subsidiaries. ResCap’s mortgage origination, servicing and other business activities, conducted through its subsidiaries, including GMAC Mortgage, will continue to operate as the Chapter 11 proceeds. Undergoing the Chapter 11 process will:Click to continue

Despite the fact that Americans overwhelmingly support homeownership, legislative and regulatory proposals now under consideration would greatly harm homeowners, homebuyers, the housing market and the nation's economy.Click to continue