Category: Buying

Buying

New-Home Building at Highest Level in 3 Years

DAILY REAL ESTATE NEWS | THURSDAY, JULY 19, 2012

The home-building industry continues to dig out of its slump as the pace of construction posts big jumps for single-family and multifamily houses. Builders had a level of starts in June not seen since October 2008, the Commerce Department reported Wednesday.

Housing starts in June soared 6.9 percent, reaching a seasonally adjusted annual rate of 760,000 units. Broken down, single-family home construction, which makes up the largest segment of those new housing starts, increased 4.7 percent in June. Multifamily housing starts, considered a volatile segment of the market, jumped 12.8 percent last month.

Housing starts were nearly 24 percent higher in June compared to last year at that time.

“Housing continues to be the one sector of the U.S. economy that is outperforming expectations,” Michael Gapen, an economist at Barclays, told Reuters.

Still, while housing starts posted a big leap in June, new housing permits — a gauge of future building — dropped 3.7 percent in June.

Source: “Housing Starts Are Up, but Building Permits Decline,” Reuters (July 18, 2012)

http://realtormag.realtor.org/daily-news/2012/07/19/new-home-building-highest-level-in-3-years?om_rid=AACSxz&om_mid=_BQCE6nB8raiUwZ&om_ntype=RMODaily

Buying

Hattiesburg Real Estate-NEW LISTING

15 New Bern Hattiesburg , MS  39402

Two story home with formal dining, soaring ceilings, and new stainless appliances. Sits on large lot in Bent Creek West at the end of a cul-de-sac.

 

Call Crye-Leike for information on this and many other homes.

Buying

Mortgage Applications Surge Nearly 17% Last Week

DAILY REAL ESTATE NEWS | WEDNESDAY, JULY 18, 2012

Record-low mortgage rates helped spur more mortgage applications last week, led by a jump in applications for refinancings, according to the Mortgage Bankers Association in its weekly report.

The MBA’s index for mortgage applications — which includes applications for both refinancing and home purchase — rose 16.9 percent for the week ending July 13.

Refinance activity posted its largest jump in seven months, increasing 21.6 percent last week.

On the other hand, loans for home purchases — which serves as a gauge of home sales — decreased slightly by 0.1 percent last week.

Source: “Mortgage Applications Surge on Refinancing,” Reuters (July 18, 2012)

http://realtormag.realtor.org/daily-news/2012/07/18/mortgage-applications-surge-nearly-17-last-week?om_rid=AACSxz&om_mid=_BQBt7sB8rRnOUU&om_ntype=RMODaily

Buying

Survey: Americans See More Opportunity in Housing

DAILY REAL ESTATE NEWS | TUESDAY, JULY 10, 2012

While Americans are more pessimistic about the direction of the economy, their optimism regarding the housing market continues to grow, according to Fannie Mae’s June 2012 National Housing Survey. Low prices and record-low interest rates are helping to lift Americans’ views on housing, according to the survey.

“While consumers remain cautious about the general economy, their attitudes toward the housing market continue to improve,” says Doug Duncan, Fannie Mae’s chief economist. “Although this positive trend may be short-lived if the general economy falters, one might ask whether consumers are increasingly seeing the current environment as a unique opportunity to buy a home while home prices remain depressed, rental costs are increasing, and interest rates are near historic lows.”

Thirty-five percent of the Americans surveyed say they expect home prices to rise within the next year, with expectations that home prices will rise 2 percent within that time. That marks the highest increases since the survey began in June 2010.

Also, 73 percent of the Americans surveyed said that now is a good time to buy, which matches the highest number recorded since the survey began.

Source: “Housing Survey Shows Consumer Attitudes Demonstrative of Macroeconomic Indicators,” RISMedia (July 9, 2012)

http://realtormag.realtor.org/daily-news/2012/07/10/survey-americans-see-more-opportunity-in-housing?om_rid=AACSxz&om_mid=_BP-HguB8q4Vk84&om_ntype=RMODaily