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Owner/Broker Rick Andrews
Century 21 Scenic Realty
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Market Updates Category
Housing Contributes to Economic Growth
Over the last two years, home building has experienced significant growth, albeit off of low levels. And this expansion has added to overall growth of Gross Domestic Product (GDP). In fact, since the last quarter of 2011, advances in home building have been responsible for 20 percent of total economic expansion. While the economy as a whole has slowed somewhat over...
Good News for Georgia Mountain Real Estate the Florida Markets are on the Rise
I came across this article and thought that it is good news for our market. Most of our buyers come out of the Florida and Atlanta markets. As thess markets are on the rise we should follow in the coming months. Florida's Housing Market Continues Positive Trends in February REGIONAL SPOTLIGHT—Florida's housing market reported more closed sales, rising median prices, increased pending...
Rising Costs Put Squeeze on Builder Confidence in April
Facing increasing costs for building materials and rising concerns about the supply of developed lots and labor, builders registered less confidence in the market for newly built, single-family homes in April, with a two-point drop to 42 on the National Association of Home Builders Housing Market Index (HMI), released recently. “Many builders are expressing frustration over being unable to respond to...
March Existing-Home Sales Slip Due to Limited Inventory, Prices Maintain Uptrend
Existing-home sales eased in March from inventory constraints, which continued to pressure home prices according to the National Association of REALTORS®. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 0.6 percent to a seasonally adjusted annual rate of 4.92 million in March from a downwardly revised 4.95 million in February, but remain 10.3...
Housing Starts Pass 1 Million Starts for First Time in Nearly Five Years
Freddie Mac recently released its U.S. Economic and Housing Market Outlook for April showing that despite the ongoing housing recovery and gains on the construction jobs front, large economic headwinds persist. For example, the stubbornly high unemployment rate serves as a reminder of just how far the economy needs to go to get back to a healthy level. A short...
Sellers Becoming Confident in the Housing Market, Providing an Optimistic Outlook for the Housing recovery
Realtor.com®, a leader in online real estate operated by Move, Inc., has released its March data on the U.S. housing market that shows growing optimism and confidence among potential sellers. Realtor.com®’s March 2013 data indicates that while national housing inventory decreased 15.22 percent since last year, the number of listings increased 2.36 percent since February 2013. This month-over-month increase indicates...
Fannie Mae Provides Monthly, Ongoing Single-Family MBS Loan-Level Disclosure
On Friday, January 11, Fannie Mae released monthly loan-level disclosure data for its Single-Family mortgage-backed securities (MBS) as part of its loan-level disclosures initiative. The data will be updated monthly and will be provided for MBS beginning with an issue date of April 1, 2003. “We believe that releasing monthly loan-level data is a significant step toward meeting investors’ desires for...
New-Home Sales Rise
Sales of new single-family homes increased 4.4 percent in November to a seasonally adjusted annual rate of 377,000 units, according to figures released today by HUD and the U.S. Census Bureau. It was the highest monthly total since April 2010 when the federal home buyer tax credit expired. “New-home sales are gradually picking up momentum as the economy improves,” says Barry...
Builder Confidence Continues Improving in December
Builder confidence in the market for newly built, single-family homes rose for an eighth consecutive month in December to a level of 47 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This marked a two-point gain from a slightly revised November reading, and the highest level the index has attained since April of 2006. “Builders across the...
FHA Issues Annual Financial Status Report to Congress
The U.S. Department of Housing and Urban Development (HUD) recently released its annual report to Congress on the financial condition of the Federal Housing Administration (FHA) Mutual Mortgage Insurance (MMI) Fund. In reporting on findings of the independent actuarial study, HUD indicates that while FHA continues to be impacted by losses from mortgages originated prior to 2009, this report does...
