Rise in Homebuilder Confidence at Odds with Declining Sales. There has been a rise in builder confidence for newly installed single-family homes.
Though trust among builders in the market surged four notches, this is still below the positive confidence requirements set by the The National Association of Home Builders/Wells Fargo Housing Market Index. Declining sales and the increasingly less enthusiastic attitude towards prospects and future transactions have not deterred the steady growth of builder confidence. Builders' outlook remain optimistic even in the face of declining GDP in the first quarter of 2014, relying on a healthier employment sector and historically low mortgage interest rates. Following months of slight instability, builder confidence climbed up four points.
NAHB chairman Kevin Kelly said that this signals renewed confidence in the homebuilding industry. Whether new home sales recover and return to pre-crisis levels remains to be seen, according MDS Holdings CFO and Denver-based homebuilder John Stephens. Realtors: Median Home Prices May Increase by 4% In a bid to cut through the tide of negative reports, realtors are more upbeat about home prices but expectations on median home prices tend to be modest, expecting a 4 percent increase within the next 12 months.
The latest National Association of Realtors Confidence Index covers the responses of 3,000 members with regard to their sales transactions. According to the report, the cause for modest expectations could be the following: sluggish sales triggered by tight credit conditions, a decrease in affordability in view of the recent surge in prices despite "modest income gains," and "fewer distressed sales. " Florida is one of the states with a more positive take on home price increases. Besides low housing inventories, high demand for homes may likely boost prices in Florida. Why Baby Boomers Are Not Going Anywhere. In Patrick Simmons' recent commentary, he mentioned how daily retirement statistics for Baby Boomers have reached 10,000 per day.
Simmons, Fannie Mae's Economic and Strategic Research Group director, noted drastic adjustments on retirees' housing choices after they leave the employment field and settle into a new lifestyle. Once the 1946 to 1964 generation becomes a group of empty nesters, it is often perceived that suburban single-family homes will downgrade to urban multifamily residences. The truth is an entirely different story, however. According to Simmons, the number of individuals inhabiting a single-family detached home - an important indicator of housing expenditure among boomers - has not declined though lifestyle changes loom large. The percent of single-family detached homes occupied by Baby Boomers surged in 2012 contrary to the downsizing perception. Overall, the decrease in traditional family households for boomers exceeded 5 million from 2006 to 2012.
Why Baby Boomers Are Not Going Anywhere. Rosner Encourages Investor Activist Group To Fix GSEs. The year 2014 is full of possibilities for meaning housing reform.
Congress need not act on it too, according to Joshua Rosner, author of bestselling books “Reckless Endangerment” and "Most epic Twitter war ever" and Graham Fisher & Co's managing director, in his recent address to the members of Investors Unite. Rosner spoke of his moving forward vision as far as the issue of housing reform is concerned. Recovery in Florida Continues: Rising Prices, Listings and Inventory. Florida's housing market is in a state of euphoria.
What You Need to Know About this Year's Interest Rates. When 2014 began, experts and insiders in the industry came to an agreement that interest and mortgage rages would rise if present metrics were any indicator.
Analysts continue to be surprised by mortgage rates and it has only been five months into 2014. Indicators of a Positive Housing Trend. The housing market is currently marked by positive overall trends in the latest housing scorecard released by the U.S Department of Housing and Urban Develpment and the U.S.
Department of the Treasury. The scorecard maintains that despite positive trends, the housing market has not completely recovered from the “Great Recession.” Market health comprised, among others, stable home prices and declining foreclosure rates. What makes a weaker market include a rough winter season and very restricted access to credit for homebuyers. According to Katherine O'Regan, HUD Assistant Secretary for Policy Development and Research, last month's Housing Scorecard reflects the stability prevalent in today's housing market with home prices rising almost 7 percent from 2013.
Warren: Big Banks Trick People. In her fight to advance US financial reform, Massachusetts senator Elizabeth Warren released a book entitled “A Fighting Chance” coupled with a guest appearance on The Rehm Show on NPR.
Institutional Investors Back Off While Cash House Sales Move Up. Despite the fact that investor interest has reached an all-time low in two years, all-cash home sales have hit a historical high.
This apparent contradiction has become a source of confusion. In a recent report by RealtyTrace, the number of all-cash buyers has leveled up since last year, accounting for 42.7 percent of all residential property sales in the first-quarter from 37.8 percent in the preceding quarter. This has been a marked improvement since its 19.1 percent record during the first quarter of last year. Boost your Real Estate Business through Brochures. What makes for an effective real estate marketing tool?
Any promotional item with a powerful message and an interesting, professional-looking design is an effective marketing tool that every business should take advantage of. The same can be said of your realtor marketing brochures. If your real estate brochures have a tacky and mismatched design or rather questionable or vague message, then you need to improve on your real estate marketing. Businesses ought to make full and proper use of such a marketing tool because they are there mainly to provide concrete information and consequently build the reputation of the realtor. Unlike real estate postcards and business cards, you do not mince your words in a brochure. Brochures do not cost much and short run printing has recently lowered per-piece cost of the normal-sized and jumbo brochures. Everyone knows what a brochure is. The Future of the Housing Market. Five years ago, the housing market left the economy in a shaky situation. The recession dragged on and recovery seemed sluggish.
Yet while other industries appear to have slowed down at present, what used to be a harbinger of instability is now an important economic driver.