Another Sign of Home Price Recovery
Although news about the housing market has been mixed over the past month, new data has started to be more positive than negative. Perhaps, for once in the past year, the signs of a…
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Newest first · Page 174US Construction Spending Up 9.4% So Far in 2012
Spending on construction in the US rose from a seasonally adjusted annual rate of $822.5 billion in April to $830 billion in May, a rise of 0.9%. Year-over-year, May’s total is up 7% higher…
Another Homebuilder is Getting Well (KBH, LEN, PHM, HOV, TOL, DHI)
The signals are multiplying that a recovery in home construction is taking place. Earlier this week the S&P Case-Shiller housing price index showed a gain for the first time in seven months. The US…
Activist Gets More Active Against Genworth Mortgage Insurance Operations
GENWORTH FINANCIAL, INC. (NYSE: GNW) has been battered as far as its stock is concerned and shares matched a 52-week low this morning of $4.80. At least that was the case until an activist…
Homebuilder Hammers Estimates Again, Orders Rise 40% (LEN, DHI, PHM, HOV, TOL, NVR, KBH, XHB)
Homebuilder Lennar Corp. (NYSE: LEN) reported second quarter earnings today that handily beat both EPS and revenue estimates. Excluding a one-time tax gain, the company posted EPS of $0.21 compared with a consensus estimate…
Mortgage Applications Drop Sharply
Flickr, Images of MoneyThe Mortgage Bankers Association today released its weekly survey on mortgage applications, noting that total volume fell by -7.1% on both a seasonally adjusted and unadjusted basis. The refinance index fell…
Detroit’s Housing Problem Persists
No other large American city has the rows and rows, blocks and blocks of empty homes that Detroit has. Evidence indicates that some houses in Detroit can be bought for less than $10,000, at least by…
Home Prices Up for First Time in Seven Months
US home prices rose an average of 1.3% in April according to the latest S&P Case-Shiller home price index. Prices rose in both the 10-city and 20-city indexes after seven consecutive months of decline.…
Calling A Housing Bottom
How many people and groups have predicted “when” the bottom of the housing market since things started to go south in late 2007 and early 2008? Countless. Now Zillow is forecasting a bottom in…
New Home Sales at 2-year High
The US Census Bureau reported this morning that new home sales for the month of May reached a seasonally adjusted annual total of 369,000, much better than the April total of 343,000 and even stronger…
200,000 Seek Foreclosure Reviews (BAC, C, JPM, WFC, PNC, HBC)
Flickr, Images of MoneyAs part of the $26 billion mortgage foreclosure settlement reached between the federal and state governments with a number of mortgage lenders, borrowers who believe that their homes were foreclosed in…
Mortgage Applications Fell Last Week
According to the Mortgage Bankers Association, applications for mortgages declined by -0.8% last week compared with a week earlier. The refinance index rose by 1%, but the purchase index fell by -9%. Here’s the…
Uncle Sam Riding to Big Banks’ Rescue Again? (BAC, C, JPM, WFC)
Shares of Bank of American Corp. (NYSE: BAC) are up about 5% today on two bits of news. First there’s the story that the bank is negotiating a sale of its wealth management division…
New Housing Permits Jump, Construction Starts Fall from Four-year High
The monthly report from the US Census Bureau and the Department of Housing and Urban Development shows that new housing starts totaled a seasonally adjusted annual rate of 708,000 units in May, a drop…
Fed Survey Details How Recession Sucked the Blood out of American Household Net Worth
The Federal Reserve report on consumer finances, which is conducted every three years and is backward looking, shows just how brutal the Great Recession was on American households. This will show how bad some…