The historically low mortgage rates have not turbocharged home sales. At best, there has been a slight recovery and only in the most recent few months. Palm Coast, FL – January 24, 2012 – Past housing cycles were heavily influenced by changes in mortgage rates. The cycles, both up and down, were generally also abrupt. […]
Banks flush with cash but not lending. Palm Coast, FL – December 2, 2011 – These are strange times we live in. The economy has officially and statistically been out of recession for two years. Still, consumer confidence (as measured by The Conference Board) is at or near its lowest point ever. Consumer inflation – […]
Gradual improvement is expected in 2012 and beyond, according to projections at a residential forum here at the 2011 Realtors® Conference & Expo. Palm Coast, FL – November 12, 2011 – Although the housing market struggled to maintain an even footing in 2011, gradual improvement is expected in 2012 and beyond, according to projections at […]
Existing-home sales are little changed from the second quarter but are notably higher than a year ago. The good news is inventory levels have been trending gradually down. Palm Coast, FL – November 9, 2011 – Metro area median existing-home prices in the third quarter generally were down from a year ago, while sales rose […]
The total number of rental households has increased to 38 million in the second quarter of this year, an increase of 1.4 million renters in the past 12 months. Palm Coast, FL – October 28, 2011 – The total number of rental households has increased to 38 million in the second quarter of this year, […]
Housing affordability conditions are among the best they have ever been but exceptionally tight lending criteria have made it difficult for buyers to take advantage of such attractive affordability Palm Coast, FL – October 17, 2011 – Interest rates continue at historic lows. Home prices in many markets are more affordable than ever. Indeed, housing […]
Real GDP growth of 0.7 percent in the first half of the year has virtually assured that the lagging employment indicator will be dented in the third quarter. Palm Coast, FL – October 12, 2011 – As I write this, the traditional “end of summer” is upon us. Kids will be back in school, most […]
A typical American home at the prevailing average mortgage rate today would have a mortgage payment of $698 a month, not much different from what a home buyer would have faced 30 years ago. Palm Coast, FL – October 6, 2011 – A home buyer purchasing a typical American home at the prevailing average mortgage […]
The Fed policy is an attempt to push down 30-year mortgage rates at the cost of pulling up rates on 1-year or 3-year or 5-year adjustable rate mortgages (ARMs). Palm Coast, FL – October 3, 2011 – Interest rates have been falling across the board lately. It is due to the continuing ultra-loose monetary policy […]
Housing starts are on track to be lower than when the U.S. population was only half its current size, more than 50 years ago. Palm Coast, FL – September 16, 2011 – At the projected 551,000 rate for new housing unit construction this year, it would be the lowest since at least 1945. Data in […]