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Tag Archives: Housing Supply

September Housing Permits, Starts at 4-Year Highs

Housing starts and permits jumped in September to their highest levels since July 2008, Census Bureau and Department of Housing and Urban Development reported jointly Wednesday. Housing starts jumped 15.0 percent from August to a seasonally adjusted annual rate of 872,000, while permits improved 11.6 percent to 894,000.

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Fitch Forecasts Continued Improvements for Housing

Fitch Ratings is predicting a continued recovery into 2012, according to a recent report titled U.S. Homebuilding and Construction: The Chalk Line. A slowly growing economy combined with ""somewhat diminished distressed home sales competition, less competitive rental cost alternatives, and new home inventories at historically low levels"" led the ratings agency to predict growth for housing starts and home sales into 2012, with further moderate improvements into 2013.

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Home Prices Buck Typical Seasonal Slowdown in September: Report

Home prices in September were up 5 percent year-over-year while home sales posted a 4 percent annual increase, even as housing metrics began their typical seasonal declines, according to Redfin's analysis of activity across 19 major U.S. markets. Between August and September, these 19 markets saw prices decline just 0.8 percent, which Redfin says is a smaller decline than is customary at this time of year. At the same time, the number of homes for sale in the target markets was down 29.3 percent from September 2011.

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Zillow: Inventory Shrinking, California Metros Depleting Fastest

Sellers may begin to have the upper hand in the market as housing inventory shrinks, leaving first-time homebuyers left to compete with investors, a report from Zillow revealed. Inventory across all price levels fell 19.4 percent year-over-year as of September 30, according to Zillow analysis, which tracked the number of homes listed for sale on its site. Among the 30 largest metros, California cities saw the biggest annual reduction in inventory.

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Is the Industry Seeing Sunlight Break Through the Shadows?

The shadow inventory that previously darkened industry outlook is beginning to fade. In fact, we may soon begin to see the sunlight on the horizon. In July shadow inventory - unlisted homes that are seriously delinquent, in foreclosure, or held as REOs - declined 10.2 percent year-over-year, falling to 2.3 million homes, according to CoreLogic's Shadow Inventory Report released Tuesday. Seriously delinquent homes – those 90 or more days delinquent – are the most common type of home in today's shadow inventory, making up 1 million of the 2.3 million-home total.

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The Cogsville Group Acquires 94 Chicago Properties from FHFA Bulk Sale

The Cogsville Group, LLC picked up 94 Fannie Mae foreclosures in Chicago through the Federal Housing Finance Agency's REO Initiative. The Cogsville Group is a private equity firm based in New York with a focus on distressed sales. The FHFA said in a release that all properties purchased through the program were sold near or above market value. The 94 properties sold included 111 units, 68 of which were occupied. FHFA also stated Fannie Mae will continue with bulk sales in markets with a strong demand for rental housing and a surplus of REO properties.

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Single-Family Starts at 2-Year High in August, Permits Slip

Single family starts increased 28,000 in August to 535,000, the highest level since April 2010, the Census Bureau and Department of Housing and Urban Development reported jointly Wednesday. Despite the increase total, housing starts improved just 17,000 as multi-family starts fell.

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Home Prices Up Yearly, Inventory Down Nearly 30%: RE/MAX

Home prices skimmed close to the bottom during July this year but climbed 6.3 percent year-over-year by August, according to RE/MAX. The real estate company revealed in its latest National Housing Report that median home prices ticked up from last year over the last seven straight months. Forty-six of the 53 metro areas covered by the RE/MAX report saw prices tick up from over last year, with 15 observing double-digit increases.

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Redfin: 19 Major Markets See Price Gains in August

Beating summer expectations, home prices ticked up 5 percent across 19 major U.S. markets in what real estate broker Redfin called an indicator of a housing market getting stronger. According to the broker, home sales went up 1.4 percent year-over-year, eclipsing a 2.5 percent decline in July. Home sales increased from 26.7 percent to 27.6 percent last month.

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