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National News

2011 a Down Year for Inventories

Housing inventories finished 2011 down by 22.3 percent, with 1.89 million homes on the market at the end of December, the lowest inventory in the last four years. Though low inventories would appear to be a good sign for

House Hunting Safari for International Buyers

Every so often, a piece of information comes around to show that the U.S. housing market, despite some challenging trends, is by no means entirely on shaky ground, and recent data on foreign buyers would seem to suggest such

Existing-Home Sales Finish 2011 with Merry Disposition

It appears Realtors were a very good bunch this year, as Santa delivered some promising existing-home sales data in December. Sales for existing-homes rose by 5 percent from November to December, reaching an adjusted annual rate of 4.61 million.

Freddie Economist Paints a Nuanced Portrait of Housing

Freddie Mac released 2012’s first U.S. Economic and Housing Market Outlook this week, and amidst analysis of the job market and consumer confidence, the GSE’s Chief Economist, Frank Nothaft, painted a nuanced portrait of housing, one that, despite some tough

Management Firms Join Forces in First Major REO Sale of 2012

Ever since the Federal Reserve outlined a potential bulk REO sales program, and especially after it was announced early last week that the government was in negotiations with private property management firms for such transactions, speculation has abounded on

Home Prices Still Tender in Latest FNC Price Index

The latest Residential Price Index (RPI) from research firm FNC was released yesterday for the month of November, and as expected, it reported that home prices are still in a sensitive spot with foreclosures and seriously delinquent mortgages still relatively common

Housing Starts Post Big Year-Over-Year Gains

The latest residential construction statistics from the U.S. Census Bureau and the Department of Housing and Urban Development for December 2011 show privately-owned housing starts posting a big year-over-year increase, rising by nearly 25 percent from December 2010 at an

ABI Increases for the Second Straight Month

After reaching positive territory for the first time in three months in November, the Architecture Billings Index (ABI), one of the leading economic indicators of construction activity, has now scored two straight months of positive numbers, according to the most recent

Housing Market Index Continues to Construct Optimism

The National Association of Home Builder’s Housing Market Index (HMI) rose four points in January to 25, the fourth consecutive month of gains and the highest level for the index in more than four years. Bob Nielsen, the chairman

Mortgage Apps Catapult by 23.1 Percent

Mortgage applications and refinancings exploded with activity last week, with the financial options increasing by 23.1 percent and 26.4 percent from the week before, respectively, according to the latest data from the Mortgage Bankers Association (MBA). Refinancings continued to

Despite Declines, Foreclosure Inventories Persist in Florida

Numerous studies and reports have been issued in the last two weeks on foreclosures, and all seem to reach the same consensus – though there was a decline in foreclosure filings in 2011, inventories are not only a present

Could There Be Financial Resistance to an REO Bulk Sale?

We reported last week on rumors that the government is planning a bulk sale program for its REO properties, a long-awaited initiative that would unload the roughly 250,000 properties in several large-scale fire sales with investors, who would maintain the properties

Survey Finds Vets Particularly Harmed by Appraisals

The appraisal process is one that has received continuous coverage in media outlets, ours included, namely in how appraisals often result in lower home values than the deals brokered by agents – and which often cancels the sale. A

Fannie Predicts Optimistic Sales for 2012

A new report from Fannie Mae predicts optimistic home sales data for 2012,with forecasts projecting in new home sales a rise of 10.4 percent and for existing-home sales an increase of 3.5 percent, or, 4.74 million units, for the

The Threatening Implications of Expiring Debt Forgiveness

A column recently published in the Chicago Tribune has called attention to one of the more understated – and successful – tax provisions passed by Congress in the wake of the housing bust, and the dangers posed by its

What’s the True Impact of Distressed Properties?

We’ve officially entered the home price index season for the month, and it seems like every day a new index is released with vaguely similar findings on the state of the housing market. CoreLogic’s Home Price Index (HPI), though,

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