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National News

Low-Ball Offers Lessening For Housing

Buyers have been on the hunt for once-in-a-lifetime deals in recent months, but an ad hoc index from The Washington Post suggests that strategy may no longer fly. Dubbing its approach the “low-ball index,” the Post looked at the

12.2 Percent Job Growth Projected for Real Estate Agents

U.S. News just released its Best Business Jobs list, and real estate agents, boosted by new BLS stats, ranked quite highly in the list. According to U.S. News, over the next few years, businesses in the U.S. are on track

What Do Housing Inventory Declines Say About the Market?

Housing inventory declined yet again in March, and real estate analysts are debating its implications for the wider housing market. Based on the latest numbers from the National Association of Realtors (NAR), inventory declined from 2.40 million in February

Huge Growth Forecasted for Multifamily Real Estate in 2012

Multifamily real estate was one of the big surprises of 2011, and analysts are expecting big things of the sector in 2012. Fannie, the largest single participant in multifamily mortgage debt, is anticipating a 30 percent jump in multifamily

Fannie Mae Predicts Higher Growth, Spending in Report

Despite slower economic activity, Fannie Mae’s Economic & Strategic Research Group still forecasted positive developments in its latest projections. The economy grew at an annualized rate of 3.0 percent in 2011’s fourth quarter, and Fannie anticipates it will grow by

NAR Confidence Index Finds New Optimism in Realtors

Realtors are an increasingly confident bunch, according to new results from NAR’s expansive Realtors Confidence Index Report. Co-authored by Jed Smith, the association’s managing director of quantitative research, and George Ratiu, the manager of quantitative and commercial research the report looked at

Existing-Home Sales Up 5.2 Percent From 2011

Existing-home sales were in March maintained year-over-year increases, according to new data from the National Association of Realtors (NAR). Total existing-home sales, which includes the completed transactions of single-family homes, townhouses, co-ops and condos, increased 5.2 percent above the

Architecture Billings Index Positive Again in March

The Architecture Billings Index (ABI), one of the leading economic indicators of future construction activity, reported positive numbers yet again in March. The fifth straight month that the index has been in positive territory, the ABI finished the month at 50.4,

Abolish HUD? Romney Considers It

In private comments overheard by reporters, Republican presidential candidate Mitt Romney floated the idea of eliminating the Department of Housing and Urban Development (HUD). According to the Washington Post, Romney made his comments at a private fundraiser amidst a

New Wave of Short Sale Approvals Exceed Foreclosure Deals

A recent surge in short sales, caused by more agreeable selling terms by banks, has increased short sales above foreclosure sales for the first time. According to research by Lending Processing Services (LPS), short sales accounted for 23.9 percent

Metro Home Prices Increased 5.8 Percent in March

Prices for homes in the nation’s 53 largest metropolitan areas were up 5.8 percent year-over-year in March, according to research by RE/MAX. The increase marks the second straight month of yearly increases for home values; before February, prices had

Building Permits Remain High in Census Bureau Report

Building permits continued their strong performance in March in the latest construction data from the U.S. Census Bureau. Released in conjunction with the Department of Housing and Urban Development, the report found that building permits in March were at

Agents, Lenders Still Fearful of Qualified Mortgage Rule

A new rule making its way through Washington could restrict access to home loans when the market needs them the most, agents and lenders fear. The rule, which would stipulate what characteristics a mortgage must have to be labeled

Will Strategic Defaults Grow More Common in 2012?

Nearly half of lenders expect strategic defaults to increase from 2011 to 2012, according to a quarterly survey by FICO. The survey, which sought opinions from 262 risk managers across the U.S., found that 46 percent of respondents expected

FHFA REO Pilot Deadline Extended

The pilot bidding program for the FHFA’s REO conversion program has been extended by a month, possibly because of high demand. According to a HousingWire article on the program, investors will now have until May to bid on the

Reactions Mixed on Government’s Principal Reduction Efforts

FHFA Acting Director Ed DeMarco added spice to the principal reduction pot on Tuesday, coming out in hesitant favor of the measure for Fannie Mae and Freddie Mac loans. Long an opponent of the policy measure, DeMarco said in comments before the

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