Market Conditions
Market Conditions
How to Increase Your Odds of Closing Remodeling Sales
Use these tips to hone your sales process and grow close ratio
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The Remodeling Market Could Turn in Q4, Says Harvard
Repair and remodeling spending could see an uptick at the end of the year
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Preparing for an Uncertain 2024
Here's how remodelers can prepare for unpredictable market
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How to Communicate with Today's Cautious Remodeling Client
Amid economic skepticism, Americans continue to spend. Now, how can you get them to spend on remodeling?
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Healthcare Reform: How it affects your business
Most aspects of the Affordable Care Act will not benefit many remodelers
Mortgage Refinance Applications Jump
The Market Composite Index, a measure of mortgage loan application volume, increased 14.6 percent on a seasonally adjusted basis from one week earlier.
Morgan Stanley Report: Housing Trough in 2012 Possible
Morgan Stanley analysts released their Housing Market Insights report, according to a report by HousingWire. The Morgan Stanley report predicts that home prices will fall by five to ten percent in 2011, and then remain flat for four years. The analysts added, however, that home prices are still at risk of falling further, and that the housing trough may continue through 2012.
Changing Age Demographics Affect the Housing Market
The high number of homes for sale right now could be due to the increased number of households with members who are 55 and older, said a University of Virginia professor in a report by The Virginian-Pilot.
Existing-Home Sales Move Up in August
Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0 percent below the 5.10 million-unit pace in August 2009.
Las Vegas' Existing Home Sales Hit 2-Year Low, New Home Sales A Record Low
August home sales in Las Vegas dropped to a two-year low for that month, according to real estate research firm MDA DataQuick of San Diego. Prices remained stagnant on a year-over-year basis but increased when compared with July.
Lumber Prices Jump Maximum Amount After U.S. Housing Starts Gains Announced
Future prices for lumber rose the maximum permitted by the Chicago Mercantile Exchange as a jump in U.S. housing starts revived prospects for construction materials. Lumber futures for November delivery rose the CME’s $10 daily limit, or 4.5 percent, to settle at $232 per 1,000 board feet at 1:10 p.m. in Chicago.
More Delinquent Home Loans Entering Foreclosure Pipeline
Mortgage performance statistics showed an acceleration of U.S. home loan delinquencies entering the foreclosure process in August 2010, according to Jacksonville-based Lender Processing Services' latest First Look Mortgage Report, derived from a database of nearly 40 million mortgage loans.
Higher Subsidies For Wealthiest Buyers
Congress should extend increased loan limits on mortgages backed by Fannie Mae and Freddie Mac that are set to expire at year end, according to the powerful chairman of the House Financial Service Committee Democratic Rep. Barney Frank of Massachusetts.
August Home Repossessions Highest Since Start Of Mortgage Crisis
Lenders took back more homes in August than in any month since the start of the U.S. mortgage crisis. In all, banks repossessed 95,364 properties last month, up 3 percent from July.