All Posts Tagged With: "Housing"

(DHI) U.S. Housing Starts Slip Less Than Expected

We got some fairly good news on the housing front this morning. Housing Starts fell in September to a seasonally-adjusted annual rate of 628,000 from 630,000 in August, a drop of 0.3%. But the number was much better than the expected level of 603,000. However, the September numbers...

21Nov2011 | | 0 comments | Continued

U.S. September 2011 New Home Sales Top Expectations

New Home Sales rose by 5.7% in September from August, to a rate of 313,000. Relative to a year ago, sales are down 0.9%. While the monthly increase is more than welcome, it is still a very dismal rate of new home sales.

There was a slight upward revision to the July numbers of 1,000 to 296,000....

28Oct2011 | | 0 comments | Continued

(DHI) Weakness Prevails in U.S. Housing

The weaknesses prevailing in the housing and construction industry in the U.S. have once again come to the fore as the National Association of Home Builders lowered its September outlook.

Poor employment growth, increased availability of foreclosed homes, strict mortgage lending rules and lower...

6Oct2011 | | 0 comments | Continued

(EQR) Used Home Prices Stabilize in July

In July, home prices were mixed on a seasonally adjusted basis. The Case-Schiller Composite 10 City index (C-10) fell a slight 0.12% on a seasonally adjusted basis, and is down 3.77% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) edged up by 0.05% on the...

28Sep2011 | | 0 comments | Continued

(DHI) U.S. New Home Sales Move Down Slightly

New Home Sales in August fell by 2.3% from July to a rate of 295,000. Relative to a year ago, sales are up 6.1%.

While the year-over-year rebound is more than welcome, it is still a very dismal rate of new home sales. However, there was an upward revision to the July numbers of 4,000 to 302,000....

27Sep2011 | | 0 comments | Continued

(DHI) U.S. Housing Starts Down – Permits Up

Housing Starts fell in August to a seasonally adjusted annual rate of 571,000 from 601,000 in July, a decrease of 5.0%. However, the July numbers were revised lower from 604,000, so it is possible to see the decrease as 34,000, or 5.5%. The number was also slightly below the expected level of 575,000.

Relative...

21Sep2011 | | 0 comments | Continued

(SA) U.S. Housing Prices Mixed in June

In June, home prices were mixed. The Case-Schiller Composite 10 City index (C-10) rose a slight 0.04% on a seasonally adjusted basis, and is down 3.85% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) edged down by 0.06% on the month and is down 4.55% from...

1Sep2011 | | 0 comments | Continued

(DHI) U.S. New Home Sales Still Awful

New Home Sales in May fell by 1.0% from May, to a rate of 312,000. Relative to a year ago, sales are up 1.6%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. Also, there was a downward revision to the May numbers of 4,000 to 315,000. Thus, relative to where...

31Jul2011 | | 0 comments | Continued

(DHI) U.S. Housing Starts and Building Permits Rise

Housing Starts rose in June to a seasonally-adjusted annual rate of 629,000 from 549,000 in May, an increase of 14.6%.

However, the May numbers were revised lower from 560,000, so it is possible to see the increase as 69,000, or 12.3%. Relative to a year ago they are up 11.8%.

Quite...

20Jul2011 | | 0 comments | Continued

(KBH) KB Home’s Loss Widens

KB Home (KBH) reported a net loss of $68.5 million or 89 cents per share in the second quarter of fiscal 2011, compared with a net loss of $30.7 million or 40 cents per share a year ago.

However, excluding inventory impairments...

29Jun2011 | | 0 comments | Continued

(EQR) U.S. Home Prices Mixed – Good News

In April, home prices were mixed. The Case-Schiller Composite 10 City index (C-10) rose an ever-so-slight 0.01% on a seasonally adjusted basis, and is down 3.04% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) fell by 0.09% on the month and is down 3.93%...

28Jun2011 | | 0 comments | Continued

(DHI) New Homes Sales Down Less than Expected

New Home Sales in May fell by 2.1% from April, to a rate of 319,000. Relative to a year ago, sales are up 13.5%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales.

Offsetting the decline was an upward revision to the April numbers of 3,000 to 326,000....

23Jun2011 | | 0 comments | Continued

(SHW) U.S. Used Home Sales – Prices Fall

In May, Existing Home Sales ran at a seasonally adjusted annual rate of 4.81 million. That pace is 3.1% lower than in April, and 15.3% below the year-ago rate. The year-ago numbers were somewhat inflated due to the end of the homebuyer tax credit. The April sales rate was slightly above consensus...

21Jun2011 | | 0 comments | Continued

(JPM) Housing Foreclosures Continue to Slow Down

Last week, data released by RealtyTrac, the leading online marketplace of foreclosure properties, revealed that foreclosure filings in May dropped to the lowest level since 2006. A total of 214,927 properties were issued notices of default, auction or repossession during the month of May, which reflected...

20Jun2011 | | 0 comments | Continued

(BAC) Fannie Mae Spurs Foreclosure Sales

Observing a downswing in foreclosed property sales, Fannie Mae (FNMA) is trying to lure buyers with attractive incentives. Fannie Mae started providing incentives to foreclosed home buyers in 2010, but it will now enhance its offers...

20Jun2011 | | 0 comments | Continued

(DHI) Double Dip in Housing is Official – ValuEngine.com Chief Market Strategist Suttmeier

The latest Case-Shiller data–released today, confirms that housing prices in the U.S. are suffering from a double dip.  Home prices fell 4.2% in the first quarter of 2011 and have a hit a new post-bubble low.   To make matters worse, 60% of the component cities in the Case-Shiller index posted...

1Jun2011 | | 0 comments | Continued

(BAC) Bank of America Mortgage Rating Downgraded

Bank of America Corporation’s (BAC) mortgage servicing ratings have been downgraded by Moody’s Investors Service, a rating arm of Moody’s Corp. (MCO)....

5May2011 | | 0 comments | Continued

(DHI) Home Prices Still Falling

In February, home prices continued to slip, and the declines were widespread. The Case-Schiller Composite 10 City index (C-10) fell 0.23% on a seasonally adjusted basis, and is down 2.60% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) fell by 0.18% on...

1May2011 | | 0 comments | Continued

Latest Poor Case-Shiller Housing Data Bolsters Predictions of Double Dip

New housing data from Case-Shiller released today shows that prices have declined yet again and are now at levels barely above their April 2009 bottom. Housing has now declined to a point that is roughly equal to its 2003 level according to the Case-Shiller composite indices. While sales were bolstered...

27Apr2011 | | 0 comments | Continued

(DHI) U.S. New Housing Starts and Permits Rise

Housing Starts rose in March to a seasonally adjusted annual rate of 549,000 from 512,000 in February, an increase of 7.2%. Also, the February numbers were revised sharply higher from 479,000, so it is possible to see the increase as 70,000, or 14.6%. Relative to a year ago they are...

23Apr2011 | | 0 comments | Continued

(SHW) U.S. Home Reseale Report Better than Expected

In March, Existing Home Sales ran at a seasonally adjusted annual rate of 5.10 million. That pace is 3.7% higher than in February, but 6.3% below the year-ago rate. The March sales rate was above consensus expectations of a 5.00 million annual rate. February was revised up from an initial read of...

22Apr2011 | | 0 comments | Continued

(JPM) RealtyTrac Reports Foreclosures Dwindle In 2011 First Quarter

On Wednesday, the leading online marketplace of foreclosure properties, RealtyTrac, revealed that foreclosure filings fell to a 3-year low in the first quarter of 2011. A total of 681,153 properties were slammed with notices of default, auction or repossession in the reported quarter, which marked...

14Apr2011 | | 0 comments | Continued

Federal Reserve Beige Book Summary

The Beige Book is a compilation of mostly anecdotal evidence from the 12 Federal Reserve Districts about the state of the economy. This month’s edition was just released.

Generally I would describe the report as being upbeat, but not exuberant. Slow and steady progress is widespread, both...

13Apr2011 | | 0 comments | Continued

(KBH) Homes Crumble – Mortgage Applications Fall as Rates Rise

The rising mortgage rates in the U.S. have pulled down the total mortgage applications in the country, thereby discouraging home buyers. The 30-year fixed mortgage rate increased slightly to 4.93% from 4.92% in the last week, leading to a 2% drop in mortgage application on a seasonally adjusted basis.

The...

10Apr2011 | | 0 comments | Continued

(BAC) Will Cash for Keys Fix Foreclosure?

An immediate “cash for keys” solution to the foreclosure mess is probably knocking at the door. Mortgage servicers have long been striving to reach a single broad settlement for critical deficiencies related to the foreclosure process, but this is yet to materialize due to internal disagreements...

31Mar2011 | | 0 comments | Continued

(BOBE) U.S. Housing Starts Plunge Yet Again

Housing Starts plunged in February to a seasonally-adjusted annual rate of just 479,000 from 618,000 in January, a drop of 22.5%. As a small silver lining, the January numbers were revised higher from 596,000, so it is possible to see the decrease as 117,000, or “just” 19.6%. Relative...

31Mar2011 | | 0 comments | Continued

(DHI) U.S. Housing Industry Still Struggling

The prolonged weakness in the housing industry has extended up to February 2011. Housing starts fell 22.5% year over year to a seasonally-adjusted annual rate of 479,000 units in February, in contrary to an expectation of an improvement to 580,000 units.

The drop in housing starts during the...

31Mar2011 | | 0 comments | Continued

(AXR) Home Sales Take Another Dive – ValuEngine Ratings for Home Builders Show Duress

We had poor home sales data last week–new housing starts came in at their lowest levels since 1974.  Today, we got even more.  New home sales fell yet again and came in at a new record low.  The US Commerce Department–which has been keeping this data set almost 50 years, reports that...

23Mar2011 | | 0 comments | Continued

(JPM) Is U.S. Bank Foreclosure Process Being Modified?

On Friday, the Wall Street Journal reported that many large U.S. mortgage servicers received a document proposing changes in foreclosure policies from state attorneys general (AGs) and federal regulators. These mortgage servicers include names like JPMorgan Chase & Co...

13Mar2011 | | 0 comments | Continued

(DHI) U.S. New Home Sales Decline 12.6%

The feeble condition of the homebuilding industry has once again reflected in the home sales statistics for January. New home sales dropped 12.6% to a seasonally adjusted 284,000 units from 325,000 units in December last year. Meanwhile, pending home sales index fell 2.8% to 88.9 from 91.5 in the...

7Mar2011 | | 0 comments | Continued