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HUD Promise Zone Program Draws Mixed Reviews


The new announcement by three federal agencies: The U.S. Departments of Housing & Urban Development (HUD), the Departments of Agriculture and Department of Education, on the latest round of competitive bidding for Promise Zone program funding was greeted by industry experts with a mix of encouragement for the program’s goals and skepticism on whether it can help expand affordable housing in troubled areas.Click to continue

Wells Fargo Poll Finds Americans Reluctant to Buy Home Due to Qualification Obstacles

Locked house

While more than two-thirds of Americans (68 percent) feel that now is a good time to buy a home, many may be reluctant to do so because of uncertainty about qualifying for a mortgage or navigating the homebuying process, according to the recent “How America Views Homeownership” survey by Wells Fargo & Company and Ipsos Public Affairs.Click to continue

Home Values Expected to Rise by 3.1 Percent Through August 2015

Home For Sale Pic

U.S. home values rose more slowly in August than they have in a year, and the cooling market offered a clear view of local markets that favor either buyers or sellers. The nation's hottest markets, on the West Coast, continued to favor sellers with quick sales and high asking prices. But some still-recovering markets remained a bargain for buyers as more homes went up for sale.Click to continue

Decline in Multifamily Forces August Housing Starts to Drop Nearly 15 Percent

For Sale Sign/Credit: Medioimages/Photodisc

Led by a steep 31.7 percent decline in multifamily production, nationwide housing starts fell 14.4 percent to a seasonally adjusted annual rate of 956,000 units in August, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau.Click to continue

Which Way is Housing Really Moving?


The progress of the housing market appeared to continue on a two-steps-forward/one-step-back trajectory, with forward-looking news of the Federal Reserve’s decision to finally move away from tapering and a rise in average fixed mortgage rates coupled with a housing starts data that saw a double-digit percentage drop.Click to continue

RealtyTrac: Mobile Millenial Market Key to Housing Recovery

Housing Magnified Pic

RealtyTrac has analyzed U.S. Census Bureau population data between 2007 and 2013 in more than 1,800 counties nationwide to discover which markets are seeing the biggest shifts in both baby boomer and millennial populations, overlaying that data with information on median prices, price appreciation and rental rates to create a heatClick to continue

Large Lenders Expect Credit Standards to Ease During Next Quarter

House of Blocks/Copyright: Phil Ashley/Credit: Phil Ashley

Large lenders' expectations that underwriting standards will ease over the next three months coincide with overall lenders' expected pullback in the demand for single-family purchase mortgages, according to results from Fannie Mae's third-quarter Mortgage Lender Sentiment Survey. The share of lenders who expect purchase mortgage demand to go up over the next three months decreased significantly—between 26 to 33 percentage points depending on loan type—with the largest decline of 33 percentage points on GSE-eligible loans.Click to continue

Builder Confidence Hits Nine-Year High in September

Builder Confidence/Credit: Goodshoot

Builder confidence in the market for newly built, single-family homes rose for a fourth consecutive month in September to a level of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This latest four-point gain brings the index to its highest reading since November of 2005.Click to continue