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Pending Home Sales Pick Up
The number of homes that went under contract in July rose 5.2%, the National Association of Realtors reported Thursday, signaling that perhaps the pull-forward effect of the federal home-buyer tax credit was beginning to wane. The NAR's Pending Home Sales Index rose 5.2 percent to 79.4 based on contracts signed in July. Analysts were expecting a decline of 1%. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 09/02/2010 )
Builder Confidence Fades on Foreclosure Fears
The National Association of Home Builders' measure of builder confidence in the new home market took an unexpected turn downward in March as unsettled winter weather and fear of more foreclosed properties hitting the market more than offset optimism for the spring selling season. The NAHB/Wells Fargo Housing Market Index (HMI) dropped back to 15 from 17 in February. Analysts were expecting the index to remain at 17. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 03/15/2010 )
New Home Sales Drop 2.2% in February
More evidence of winter weakness in the housing market came from the Commerce Department Wednesday: Sales of new single-family houses in February fell 2.2% from January to a seasonally adjusted annual rate of 308,000, 13% below the same month last year. Prices, however, were up. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 03/24/2010 )
Housing Starts, Permits Rise on Multifamily Construction
Housing starts, driven by a surge in multifamily construction in the South, rose 1.6% in March to a seasonally adjusted annual rate of 626,000, 20.2% ahead of the same month last year, the Commerce Department reported Friday. Single-family starts fell 0.9% to at rate of 531,000, still 47.1% ahead of March 2009 and compared to a February estimate that was revised upward to a 5.7% gain from the previously reported drop of 0.6%. Analysts were mixed on the data, as they were going into the thick of earnings season next week. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 04/16/2010 )
Existing Home Sales Rise 6.8% in March
Sales of existing homes, coops and condos rose 6.8% in March from February to an adjusted annual rate of 5.35 million, 16.1% ahead of the pace in March 2009, the National Association of Realtors reported Thursday. The increase, which was evident across all regions, was in line with what Wall Street was expecting. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 04/22/2010 )
March New-Home Sales Surge 27%
New single-family home sales, likely fueled by the federal home-buyer tax credit, were up 26.9% sequentially in March to a seasonally adjusted annual sales rate of 411,000, the Commerce Department reported Friday. It was the highest sales rate since July of 2009 and well above the analyst consensus expectation of a rate of 325,000. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 04/23/2010 )
Existing Home Sales Rise 7.6% in April
Sales of existing single-family, townhouse, coop and condominium homes rose 7.6% to an annual pace of 5.77 million units in April, the final month of the federal home-buyer tax credit, the National Association of Realtors reported Monday. The gain beat economist expectations of an increase of 4.7% to a rate of 5.6 million. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 05/24/2010 )
April Construction Spending Rises 2.7%
Construction spending in April rose 2.7% from March to a seasonally adjusted annual rate of $869.1 billion but remained 10.5% below April, 2009, the Commerce Department reported Tuesday. The increase was driven in part by a 4.4% sequential rise in residential construction spending to a seasonally adjusted annual rate of $263 billion. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 06/01/2010 )
Pending Home Sales Rise 6% in April
The final homebuyer-tax-credit-dependent metric, the National Association of Realtors Pending Home Sales Index (PHSI) for April, showed that the extended tax credit worked nearly as well as the first in boosting sales. The PHSI, based on sales contracts signed in April and released Wednesday morning, was up 6% to a reading of 110.9, it highest reading since last October's 112.4, which was driven by the expiration of the previous homebuyer tax credit program. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 06/02/2010 )
Builder Confidence Erodes in Wake of Tax Credit
The NAHB/Wells Fargo Housing Market Index (HMI) dropped back to 17 this month from 22 in May, snapping a string of two consecutive monthly gains and putting the index back to where in was in February. Wall Street was looking for another reading of 22. . . .
Author: BB Staff
BIG BUILDER News ( Created Date: 06/15/2010 )
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