Market Conditions
Market Conditions
Harvard Says Remodeling Spending Downturn to Slow
Could the drop in remodeling spending from post-COVID levels regulate soon?
Thought Leadership
How to Increase Your Odds of Closing Remodeling Sales
Use these tips to hone your sales process and grow close ratio
News
The Remodeling Market Could Turn in Q4, Says Harvard
Repair and remodeling spending could see an uptick at the end of the year
Business
Preparing for an Uncertain 2024
Here's how remodelers can prepare for unpredictable market
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Fannie Mae: Americans’ attitude toward housing market worsens
Americans are increasingly pessimistic about the economy and the housing market according to the results of a Fannie Mae survey.
New home sales decrease 12.6% in January
Sales of newly built single-family homes decreased 12.6 percent in January to a seasonally adjusted 284,000 units, according to data released by the U.S. Census Bureau and Department of Housing and Urban Development. Regionally, new-home sales fell in both the South and West, while the Northeast saw a gain of 54.5 percent.
NAR: Existing home sales continue to rise
Existing home sales rose for the third month in a row in January, rising above sales levels from one year ago, according the latest data from the National Association of Realtors (NAR).
Home sales may have been over-counted since 2007
The National Association of Realtors may have over-counted home sales as far back as 2007. According to NAR, 4.9 million homes were sold in 2010, down from 5.2 million sales in 2009. But real-estate analytics firm CoreLogic estimates that only 3.3 million homes were sold in 2010.
NAHB/Wells Fargo: Housing affordability highest in 20 years
Nationwide housing affordability reached record levels in the last quarter of 2010, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index. According to the report, 73.9 percent of homes sold in the fourth quarter of last year were affordable to families earning the national median income of $64,400. This is the highest affordability level in the index’s 20-year history.
Rising energy costs fuel construction materials price increase
Prices for residential construction materials continue to rise as energy costs increase, according the latest Producer Price Index released by the Bureau of Labor Statistics. Residential building materials prices rose 4.3 percent between January 2010 and January 2011, outpacing prices for general materials.
Remodeling activity increases in 2010
Residential remodeling activity increased in 2010, showing gains for the 14th straight month, as many homeowners continue to choose remodeling over purchasing a new home.
Builder confidence holds steady for fourth month
Builder confidence remained the same for newly built, single-family homes for the fourth month in a row, according to the latest National Association of Home Builders (NAHB)/Well Fargo Housing Market Index numbers.
Obama administration releases proposal to phase out Fannie and Freddie
The Obama administration on Friday put forth three possible plans on reducing the federal government’s involvement in the mortgage industry and phasing out Fannie Mae and Freddie Mac, the Wall Street Journal reported.
Housing affordability returns to pre-housing boom levels
The ratio of home price to annual household income fell to pre-housing boom levels in 47 of the 74 markets that Moody’s Analytics measures, indicating the homes in those areas currently are highly affordable. Those 47 markets have either passed or surpassed the average ratio between 1989 and 2003, when economist believe the housing boom started.