Builder confidence rises due to falling mortgage rates

Builder confidence for newly built single-family homes is rising due to falling mortgages, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The HMI rose 2 points in January to 58 on an index that grades any score above 50 as builders viewing conditions more good than poor. Last month, the HMI hit a three-year low. 

Flood insurance freeze halts thousands of US home sales

The Federal Emergency Management Agency ruled Thursday it will not approve new or renew existing flood insurance plans during the government shutdown.

Supreme Court dismisses appeal in real estate search patent case

The Supreme Court has ruled it would not review a Federal Circuit court decision denying a patent for Real Estate Alliance Ltd.’s real estate search tool.

NAHB: Affordability Hits Lowest in 10 Years

Affordability has hit its lowest in 10 years, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunities Index (HOI) for the second quarter of 2018. Approximately 57 percent of homes sold in the second quarter were affordable based on income (the median, nationally, is $71,900), down from roughly 62 percent in the […]

The post NAHB: Affordability Hits Lowest in 10 Years appeared first on RISMedia.

Building Claws Higher in July

Building clawed 0.9 percent higher in July, but still underwhelmed year-over-year, according to the Commerce Department. Combined, housing starts totaled 1.17 million, with 303,000 multifamily (five units or more) starts and 862,000 single-family starts. On an annual basis, starts tumbled 1.4 percent. Approvals for builds, encouragingly, increased 1.5 percent to 1.31 million permits, with approvals […]

The post Building Claws Higher in July appeared first on RISMedia.

Builder Confidence Healthy in July

Builder confidence is healthy, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The Index reading is 68; an above-50 reading indicates more builders have a positive outlook than a negative one. “Consumer demand for single-family homes is holding strong this summer, buoyed by steady job growth, income gains […]

The post Builder Confidence Healthy in July appeared first on RISMedia.

Housing Starts Spike to 11-Year High, Permits Stumble

Following a dip last month, housing starts rebounded in May, up 5 percent to 1.35 million from the revised April estimate of 1.286 million, according to recent data released by the U.S. Department of Housing and Urban Development and the Commerce Department. Meanwhile, single-family housing starts jumped up 3.9 percent since April to 936,000, the […]

The post Housing Starts Spike to 11-Year High, Permits Stumble appeared first on RISMedia.

Elevated Lumber Prices Lead to Builder-Confidence Slip

Builder confidence dropped down two points to 68 in June, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Experts say elevated lumber prices are to blame; however, the overall sentiment is still strong, as any above-50 readings point to a positive outlook. “Builders are optimistic about housing market […]

The post Elevated Lumber Prices Lead to Builder-Confidence Slip appeared first on RISMedia.

June Is National Homeownership Month

June is National Homeownership Month, and the industry is recognizing the importance of homeownership as a milestone of the American Dream. This year’s theme, set by the Department of Housing and Urban Development (HUD), is “Find Your Place.” HUD is one of many agencies that provide resources to help consumers obtain and sustain homeownership. Through […]

The post June Is National Homeownership Month appeared first on RISMedia.

Regulatory Relief Bill Passes Congress – Is Mortgage Lending Freedom Ahead?

Change is coming to the mortgage industry in the form of lessened restrictions for many community banks, along with greater consumer protections. The Economic Growth, Regulatory Relief and Consumer Protection Act—a bill rolls back many Dodd-Frank Wall Street Reform and Consumer Protection Act regulations imposed in 2008 following the financial crisis—has been signed into law. […]

The post Regulatory Relief Bill Passes Congress – Is Mortgage Lending Freedom Ahead? appeared first on RISMedia.