More than 60 percent of builders surveyed in May reported that the overall supply of developed lots is low.» Read More
Fears of the fiscal cliff could be impacting potential buyers already. The new home sales monthly number from the U.S. Department of Commerce is based on signed contracts.
Sales of existing homes are recovering slowly, but a drop in supplies of those homes is pushing confidence among the new home builders to a six year high.
The federal agency that some credit with saving the housing market during the worst of the recent crash, may now be in need of taxpayer help itself.
The homebuilders are rising from the ashes, after overbuilding and a credit crash sent sales and construction to levels not seen economists began counting all those numbers; they are rising, but not necessarily thriving.
The one thing standing in the way of a more robust housing recovery, is tight credit. Mortgage rates are at near-historic lows, but too many potential home buyers still cannot access these rates due to damaged credit.
LOS ANGELES-- Ryland Group Inc. said Wednesday it returned to a profit in the third quarter, as the homebuilder sold more homes and benefited from higher prices. The results trumped Wall Street's expectations, sending shares in the Westlake Village, Calif., company up more than 5 percent in after-hours trading.
A jump in signed contract to buy newly built homes in September brought volumes to the highest level since April of 2010. Is it enough to put a period on the statement that housing is in full recovery? Perhaps, but not an exclamation point.
It’s hard to imagine, given that the nation’s housing market is still digging itself out of an epic foreclosure crisis, that there just are not enough homes available to buy. But, that may be the case.
Real estate is and always will be local, and this recovery is becoming increasingly local. That is clear in the latest numbers on supplies of distressed homes.
CoreLogic, a private real estate data provider, said U.S. home prices rose 4.6 percent in August from a year ago, the largest year-over-year increase in more than six years. Prices are rising in most parts of the country, CoreLogic said. _ PulteGroup Inc., up 18 cents, or 1.2 percent, to $15.49.
*Credit Suisse cuts PulteGroup Inc to neutral from outperform. *Credit Suisse raises PulteGroup Inc price target to $15 from $12.50. *Credit Suisse cuts MDC Holdings Inc to underperform from neutral.
The government has been pushing more short sales at Fannie Mae and Freddie Mac through financial incentives, and banks are streamlining the process. But all the progress that has been made could end abruptly.
Stocks staged a strong comeback from their lows Monday, with the Dow posting a triple-digit recovery, but all three major indexes still finished in the red amid fresh worries over the euro zone.