Builder confidence in the market for newly built, single-family homes rose one point to 47 in April, from a downwardly revised March reading of 46 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). "Builder confidence has been in a holding pattern the past three months," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.Click to continue
On Friday, two of the Big Four banks have unveiled their quarterly earnings reports. Overall, the first quarter seems to have had a noticeable ding on JPMorgan Chase and Wells Fargo’s mortgage production, with both companies posting significant losses in both areas.Click to continue
Of the approximately 350 metro markets nationwide, 59 returned to or exceeded their last normal levels of economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI). This represents a net gain of eleven metros year over year. The Index's nationwide score ticked up to 0.88 from a March reading of 0.87.Click to continue
Sales of newly built, single-family homes fell 3.3 percent to a seasonally adjusted annual rate of 440,000 units in February, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau.Click to continue
Nationwide housing starts were virtually unchanged in February, inching down 0.2 percent to a seasonally adjusted annual rate of 907,000 units, according to newly released data from the U.S. Department of Housing and Urban Development and U.S. Census Bureau.Click to continue
Builder confidence in the market for newly-built, single-family homes rose one point to 47 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). "The March HMI mirrors last month's sentiment, as builders continued to be affected by poor weather and difficulties in finding lots and labor," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.Click to continue
Meetings began this morning in hundreds of conference rooms, jobsites and legislative offices all over the country, as members of the National Association of Home Builders (NAHB) hold a week-long legislative event to underscore the importance of maintaining the American Dream of homeownership.
"Because so many members of Congress have returned home for district visits this week, it's a great opportunity to sit down and talk to them about home building's importance to our continued economic recovery," said NAHB Chairman Kevin Kelly, a builder and developer from Wilmington, Del.Click to continue
Industry trade groups have jointly applauded the Senate for approving flood insurance legislation that will provide much-needed certainty to homeowners and financial stability for the National Flood Insurance Program (NFIP). HR 3370, the Homeowner Flood Insurance Affordability Act, was approved by the House earlier this month and is expected to be signed into law shortly by President Obama.Click to continue
Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) have announced that they have come to an agreement regarding a bill reforming housing finance and the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. Administrators, stakeholders and politicians from both sides of the aisle have reportedly signed onto the bill, which will hold a markup over the next few weeks.Click to continue
Some odd dynamics are in play within the housing market these days. While real estate has improved from the depths of the Great Recession, much like the economy at large, headwinds in the single-family sector are preventing major breakthroughs.
Much of that can be chalked up to simple supply and demand. Developers, driven by a shortage of available lots as well as a lack of funds, are focused on building for wealthy consumers and apartment management companies in order to maximize their return on investment.Click to continue